Bybit has listed the SPYUSDT perpetual contract with up to 20x leverage, expanding the exchange’s growing lineup of stock-linked perpetual products available to crypto traders around the clock.
Bybit adds SPYUSDT perpetual contract with up to 20x leverage
The SPYUSDT contract tracks the S&P 500 ETF (SPY) and settles in USDT. Traders can open long or short positions with leverage up to 20x, according to the exchange’s stock perpetual contracts announcement.
The contract is structured as a perpetual, meaning there is no expiry date. Positions remain open until the trader closes them or gets liquidated, following the same mechanics used across Bybit’s existing crypto perpetual contracts.
How SPYUSDT fits Bybit’s broader stock-perpetual push
The listing is not a standalone addition. Bybit launched an initial batch of 20 US stock perpetual contracts as part of a broader push into traditional finance exposure products, introducing 24/7 TradFi perpetual contracts trading covering dozens of US stocks and global ETFs.
The move lets crypto-native traders gain exposure to equity indices without leaving the Bybit platform or converting to fiat. SPYUSDT, as an S&P 500 tracker, is among the most recognizable tickers in that batch.
This expansion reflects a wider trend where crypto platforms are bridging traditional and digital asset markets. Similar efforts to connect TradFi rails with blockchain infrastructure have emerged across the industry, including initiatives like the NUVA Ethereum RWA marketplace that aim to bring real-world assets on-chain.
The intersection of traditional finance and crypto has also drawn increased attention from legal and regulatory bodies. A recent court proceeding involving Aave and frozen ETH highlights how DeFi protocols operating at this crossroads face growing scrutiny.
What traders should watch after the SPYUSDT listing
A 20x leverage ceiling means positions can be liquidated on relatively small adverse moves. A 5% move against a fully leveraged position would wipe out the margin entirely.
Traders should review the specific contract specs, margin requirements, and funding rate schedules in Bybit’s official documentation before opening positions. Stock-linked perpetual contracts also carry correlation risk, as SPYUSDT pricing depends on the underlying equity market.
Weekend and after-hours trading sessions may see different volatility patterns compared to traditional market hours. Bybit has not published detailed liquidity or open interest figures for the new contracts at the time of writing.
As with any leveraged product, risk management is essential. The crypto space has seen cases where even sophisticated users needed technical tools to recover access to significant holdings, underscoring how quickly things can go wrong when proper precautions are not in place.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
