What is a USDC Perpetual Contract?
USDC perpetual contracts are settled in USDC and quoted in USD. Traders can use USDC to open long or short positions without an expiry date.
For example, with BTC-PERP, traders place orders based on BTC quantity, with margin, profits, and losses calculated in USDC.
What is a USDC Futures Contract?
Similar to USDC perpetuals, USDC futures contracts are quoted in USD and settled in USDC. However, they have no funding fees and feature a predetermined expiry date (settlement day), allowing traders to buy/sell assets at a fixed price in the future. On settlement day, positions are automatically closed.
Key Differences Between USDC Perpetual and Futures Contracts
| Feature | USDC Perpetual | USDC Futures |
|---|---|---|
| Availability | All users | Unified Trading Account users only |
| Fees | Trading fee + funding rate | Trading fee + settlement fee (currently 0%) |
| Expiry | None | 8AM UTC on settlement day |
Beyond these differences, USDC futures operate similarly to perpetuals. Learn more: USDC Contracts Overview.
USDT vs. USDC Perpetual Contracts
Both are perpetual contracts but differ in collateral:
- USDC Perpetuals: USDC-denominated margin.
- USDT Perpetuals: USDT-denominated margin.
Additional distinctions include leverage options and risk management features.
Margin Modes for USDC Contracts
Only cross-margin is supported. Traders select preferred leverage within this mode.
Why Can’t I Trade USDC Futures?
USDC futures are exclusively available to users who upgraded to a Unified Trading Account.
USDC Futures Types Offered by Bybit
Bybit provides:
- Weekly, bi-weekly, tri-weekly
- Monthly, bimonthly
- Quarterly, bi-quarterly
New USDC Futures Listing Schedule
New contracts launch every Friday at 8AM UTC. Expiry cycles follow a rolling structure where:
- Weekly → Bi-weekly → Tri-weekly contracts transition sequentially.
- Monthly contracts adjust if expiry dates overlap with tri-weekly settlements.
👉 Explore USDC futures trading strategies
8-Hour Settlement Mechanism
USDC contracts settle unrealized P&L every 8 hours (8AM, 4PM, 12AM UTC). Settled profits reflect in wallet balances, improving capital efficiency.
Example: A 200 USDC profit at settlement deposits into your wallet.
Learn more: 8-Hour Settlement Explained.
Why Did My Entry Price Change Without New Orders?
The 8-hour settlement mechanism recalculates your average entry price as the mark price at each cycle’s end.
Using Unrealized P&L for New Positions
Yes, unrealized profits can fund new orders anytime.
Simultaneous Long/Short Positions?
No. Bybit enforces unidirectional positions (long or short only).
Trading Fees
- Taker fee: 0.055%
- Maker fee: 0.02%
Details: Fees Overview.
Maker vs. Taker Orders
- Maker: Adds liquidity by resting orders on the book.
- Taker: Removes liquidity via immediate execution.
Maximum Leverage
Varies by contract. Refer to: Risk Limits (USDC Contracts).
Order Limits
- 500 active orders max (latest 50 displayed).
- 10 conditional orders max.
Supported Order Types
- Market, limit, conditional, and stop-loss/take-profit orders.
Guides: - Order Types Explained
- Enhanced TP/SL
Ensuring Maker Fees for Limit Orders
Set prices as follows:
- Long: Price < best ask
- Short: Price > best bid
Enable post-only to avoid taker execution.
Price Limits
Contracts have minimum/maximum price thresholds (e.g., ±10% of last price). Details: Price Limits.
Portfolio Margin vs. Cross-Margin
- Hedged positions: Lower IM in portfolio margin.
- Unidirectional positions: Higher IM.
Calculations vary by risk models. Learn more: Portfolio Margin.
Risk Management via Subaccounts
Subaccounts isolate P&L from main accounts. Transfers occur only via spot wallets.
Guides:
Note: Isolated margin isn’t supported for USDC perpetuals.
Partial Liquidation
Bybit uses partial liquidation to reduce maintenance margin requirements and prevent full-position wipeouts. Details: Liquidation Process.
FAQ Section
Q: Can I trade USDC contracts without USDC?
A: No. Positions require USDC-denominated collateral.
Q: How often do funding rates apply?
A: Only for perpetuals (every 8 hours). Futures have no funding fees.
Q: Are USDC contracts available on mobile?
A: Yes. Trade via Bybit’s iOS/Android app.
Q: What’s the minimum order size?
A: Varies by contract. Check the trading rules page.
Q: Do USDC contracts support API trading?
A: Yes. Use Bybit’s REST/WebSocket APIs.
Q: How are taxes handled?
A: Consult local regulations. Bybit doesn’t provide tax advice.