Crypto08 September, 20262 min read
Bybit Launches USDT-Settled Forex Perpetual Contracts for EUR/USD, GBP/USD, and USD/JPY
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Bybit launches USDT-settled FX perpetuals for EUR/USD, GBP/USD, USD/JPY. Trading is 24/7 with up to 100x leverage and no expiry.
Bybit adds 24/7 FX
Dubai-based crypto exchange Bybit launched USDT-settled Forex (FX) Perpetual Contracts covering EUR/USD, GBP/USD and USD/JPY, with no expiration date and trading available around the clock. FinanceFeeds said the new products track “three of the world’s most heavily traded foreign exchange pairs” and settle profits and losses in USDT while leverage is available at up to 100x.
Finance Magnates reported the exchange listed perpetual contracts on EURUSDUSDT, GBPUSDUSDT and USDJPYUSDT on Tuesday, each “offer[ing] leverage of up to 100x and track[ing] the corresponding spot currency pair without an expiry date.” The contracts are designed to give traders exposure to currency movements without requiring them to own euros, pounds, dollars or yen directly, while keeping positions inside Bybit’s Unified Trading Account.
Unified account, macro timing
DailyCoin said the FX perpetuals operate within Bybit’s Unified Trading Account and include funding rates and dynamic leverage, while trading around the clock lets users react to weekend macro developments, central bank statements, and geopolitical developments in real time. FinanceFeeds described the around-the-clock structure as different from traditional spot FX because liquidity and price formation remain concentrated around established market hours, while Bybit’s perpetuals keep trading active even when underlying foreign exchange markets are closed.
Finance Magnates added that Bybit said the schedule is meant to let traders respond to “central-bank statements, geopolitical developments and other macro events outside conventional currency-market hours,” while also noting that initial contract specifications do not identify the price data sources or explain how the reference price will be handled while the underlying market is closed. Bybit said it may adjust parameters including leverage, margin rates, funding rates and price sources, and the products are described as usable for directional trading or to hedge currency exposure while retaining crypto collateral.
Competition and risk
FinanceFeeds said the launch extends Bybit’s TradFi Perpetuals suite, which debuted in April and now covers more than 200 assets across equities, commodities, exchange-traded funds, foreign exchange and shares of pre-IPO companies. FinanceFeeds also placed Bybit in a broader competitive push, noting that Kraken introduced five forex perpetual futures in April 2025 with leverage of up to 50x and that BitMEX followed in April 2026 with six FX pairs carrying leverage of up to 100x.
In its risk framing, FinanceFeeds warned that at up to 100x, “relatively small adverse price moves can produce substantial losses or trigger liquidations,” especially during periods of market stress or reduced liquidity. PR Newswire Canada said turnover in OTC FX markets averaged $9.6 trillion per day in April 2025 and that FX Perpetual Contracts are USDT-settled and track spot exchange rates without an expiry date, positioning the product as a new avenue for accessing the “trillion-dollar-a-day global forex market.”