Bybit has introduced synthetic perpetual contracts for three major currency pairs: EUR/USD, GBP/USD, and USD/JPY. These instruments are listed as EURUSDUSDT, GBPUSDUSDT, and USDJPYUSDT. They mirror spot forex rates but are settled in USDT, allowing traders to use crypto assets as collateral.
The contracts operate 24/7 with leverage up to 100x. There is no expiration date for positions, though traders must pay funding rates every eight hours. Bybit has implemented a cap on the funding rate at 0.5% to maintain cost predictability during high volatility.
The platform has set the tick size at 0.00001. To support the launch, the exchange is temporarily waiving all fees for limit orders and providing a 50% discount on market order fees.
These forex instruments are part of a broader TradFi Perpetual suite that includes over 200 synthetic assets. Bybit started developing this category in April 2026, initially focusing on commodities and equities before expanding into currency pairs.