VICTORIA, Seychelles, July 25, 2022 (GLOBE NEWSWIRE) — Bybit, the third most visited cryptocurrency exchange in the world, has launched its unified margin account for eligible users on July 25, 2022, with a full release to be expected in the near future.
Bybit’s unified margin account offers a completely new derivatives trading structure. Users can use all assets under their account as collateral to trade USDT perpetual, USDC perpetual, and USDC options contracts.
Currently, the unified margin account supports USDT, USDC, BTC and ETH. More assets will be supported after the full release.
Under the new account, overall risks and assets will be calculated in USD terms. As long as the total maintenance margin (calculated as USD equivalent) under the account meets the requirement, the trader’s positions will remain open.
Traders will be able to trade USDT perpetual, USDC perpetual, and USDC options contracts simultaneously via the unified margin account — without transferring assets back and forth across multiple accounts.
Traders’ USDT, USDC, BTC, and ETH balances under the unified margin account will be calculated as USD equivalent based on their respective conversion ratio. The assets will then be used collectively as their position margin.
The profit and loss of all USDT perpetual and USDC perpetual contracts positions under the unified margin account will be combined and offset against each other. In other words, the loss incurred by one position may not trigger liquidation as long as the overall portfolio risk remains under a critical level.
Another feature of this account is auto-borrowing. If the available balance of an asset under the unified margin account falls below zero due to trades and/or market fluctuations, the system will process auto borrowing of the asset. No interest will be incurred if the…
