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Bybit is a crypto exchange for spot and perpetual futures trading. It also matters to prop traders: HyroTrader and Crypto Fund Trader both let you trade a challenge through your own Bybit account.
Crypto exchange
Bybit
Crypto exchange with spot, perpetual futures and a demo account that prop firms such as HyroTrader and Crypto Fund Trader connect to.
| Spot fees, maker / taker | 0.1% / 0.1% for regular users (VIP 0) source |
|---|---|
| Futures fees, maker / taker | 0.02% / 0.055% for regular users (VIP 0) source |
| Identity check | Required: at least Standard verification for all products and services source |
| Not available in | Including the US, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Syria and Sudan; see the full list source |
| Proof of reserves | Published regularly, with a Merkle tree you can check your balance against source |
Checked on the official site on . Terms change, so confirm them before you pay.
Fees in practice
A regular user pays 0.1% on spot trades, whether the order adds liquidity or takes it. On a $5,000 spot purchase, that is $5.
Futures cost less per trade: 0.02% for limit orders that wait in the book and 0.055% for market orders. On a $10,000 futures position opened with a market order, that is $5.50, and closing it with a market order costs the same again.
Identity check
Bybit requires at least its Standard identity verification for all products and services. If you live in a country on its restricted list, the verification can be rejected.
Who it suits
- Traders who want both spot and perpetual futures in one account.
- Prop traders whose challenge runs on a Bybit account, at HyroTrader or Crypto Fund Trader.
It doesn't suit you if you live in the US, mainland China, Hong Kong, Singapore or Canada, among other restricted countries.
Proof of reserves
Bybit publishes proof-of-reserves reports with a Merkle tree, so you can check that your balance is included.
Compare it with OKX: Bybit vs OKX.
Risk warning: crypto trading and prop firm challenges are risky. Many traders fail a challenge and lose the fee. Only pay what you can afford to lose. Nothing here is financial advice.