Bybit FAQ: 70+ Answers on Derivatives, Spot & API Automation

Yes. You can connect TradingView to Bybit either through PickMyTrade or through Bybit's own built-in Webhook Signal Trading feature. PickMyTrade handles the API authentication and order routing for you, so you just paste a webhook URL into your TradingView alert and PickMyTrade forwards the signal to Bybit.

Yes. Go to pickmytrade.io, add Bybit as your broker connection, and enter your Bybit API key and secret. In PickMyTrade, go to Generate Alert to create your alert — you will receive a JSON payload and a webhook URL. Paste the JSON into the TradingView alert message box and paste the webhook URL into the TradingView webhook field. PMT supports Bybit for USDT/USDC Perpetual Futures — spot trading is not supported. Full setup guide: https://docs.pickmytrade.io/docs/connect-bybit-with-pickmytrade/

PickMyTrade uses Bybit's current public API, which supports USDT/USDC perpetuals under the Unified Trading Account. PickMyTrade handles the API connection for you — no manual API configuration is required.

Yes. PMT supports Bybit for USDT/USDC Perpetual Futures — spot trading is not supported. In PickMyTrade, go to Generate Alert to create your alert — you will receive a JSON payload and a webhook URL. Paste the JSON into the TradingView alert message box and paste the webhook URL into the TradingView webhook field.

At minimum it includes the action (buy/sell/close), the symbol (e.g. BTCUSDT), quantity or order size, and the product type (spot or perp). PickMyTrade auto-generates the JSON for you so you don't have to write it manually, but you can also use Bybit's native webhook feature with a payload their help center documents.

PickMyTrade places no restriction on the number of strategies you can run for automation. Each strategy gets its own webhook URL, and alerts are routed through your Bybit API key. Standard Bybit API rate limits still apply.

Yes. TradingView webhooks are only available on paid plans (Essential, Plus, or Premium). The free plan does not emit webhook alerts, so automation to Bybit through any third-party tool requires at least the entry-level paid tier.

Typical end-to-end latency is under 200ms: TradingView fires the webhook, PickMyTrade receives it and calls Bybit's API, and Bybit matches the order. Exact timing varies with TradingView alert dispatch and network conditions, so it is not suitable for ultra-low-latency HFT strategies.

Yes. You can create sub-accounts under your master account and generate a separate API key per sub. This is a common pattern for isolating each bot or strategy so one strategy's risk does not bleed into your main balance.

Many users do. A dedicated sub-account with its own API key means PickMyTrade only has access to the capital you allocate to automation, which limits blast radius if an API key is ever leaked. You can top up or drain the sub-account from your master as needed.

An API key created without an IP whitelist expires after 90 days. If you bind the key to one or more IP addresses, it stays active until you revoke it. Automation tools typically recommend IP-whitelisting to avoid the 90-day reset.

Enable Read and Trade for spot and/or contracts, depending on what you plan to trade. Do NOT enable withdrawal permissions; no order-routing tool needs them. You should also uncheck Account Transfer and Subaccount Transfer unless a specific feature requires it.

Yes, Bybit supports hedge mode on perpetuals, so you can hold both a long and a short on the same contract simultaneously. Hedge mode has to be toggled on inside Bybit itself, and your bot needs to send the correct positionIdx field when placing orders.

Bybit enforces per-endpoint rate limits measured in requests per second, and exceeding them returns 429 errors or short IP throttles. WebSocket market-data streams are not counted against REST rate limits, which is why many bots use WS for prices and REST only for orders.

Yes. With PickMyTrade you can route a single TradingView alert to multiple broker connections, letting you mirror a strategy across venues. Each connection has its own webhook URL and alert configuration.

Yes. PickMyTrade runs in the cloud, and TradingView sends alerts from their servers, so once both are configured you can shut down your PC and trades will still execute on Bybit. Native Bybit Webhook Signal Trading is similarly server-side.

Yes. Bybit has a built-in Webhook Signal Trading feature where you configure a strategy template on Bybit and paste Bybit's URL into TradingView. PickMyTrade is a separate, broker-agnostic layer that gives you more control over JSON payloads, position sizing logic, and the ability to mirror the same alert to non-Bybit brokers.

This error often appears when using UTA Pro sub-accounts with certain bot platforms, because duplicate client order IDs get sent within a short window. Using a standard UTA sub-account (not UTA Pro) and making sure your bot generates unique order link IDs per request usually resolves it.

No. PickMyTrade is a no-code bridge - you click through a visual setup to connect your Bybit API key, and it generates the webhook URL and JSON for your TradingView alert. You only touch code if you want to customize the JSON payload yourself.

You backtest on TradingView using Pine Script, the same way you would for any other broker. The backtest runs on TradingView's historical data, then once you are satisfied with the results you attach an alert and route it to Bybit through PickMyTrade.

Yes. Bybit's API accepts takeProfit and stopLoss fields, so your bot can attach TP/SL at order time. PickMyTrade supports TP and SL parameters in the alert JSON. Market orders and limit orders are also supported.

In practice, most TradingView-to-Bybit automation via PickMyTrade is for USDT/USDC perpetuals. TradingView charts don't natively stream every option strike, so automating options is not recommended. Check that your automation tool explicitly supports Bybit options before attempting.

For most retail traders, yes. Cloud tools like PickMyTrade handle uptime, IP whitelisting, and reconnection logic. Self-hosted bots give you more control but also mean you are responsible for outages, TradingView retries, and patching the Bybit API when it changes.

No. Bybit does not offer services to users in the United States - it is explicitly listed among Bybit's service-restricted countries. Some US users use VPNs, but that violates Bybit's terms of service and puts your funds at risk of a frozen withdrawal.

Bybit does not serve the United States, Mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Syria, Sudan, sanctioned Russian-controlled regions of Ukraine, and a handful of others. The full list is published on Bybit's help center and updated periodically.

Go to bybit.com, click Sign Up, and register with an email or phone number. You can start depositing and spot trading before KYC, but most features - including higher withdrawal limits and derivatives - require at least Standard (Level 1) KYC.

Bybit has three KYC tiers. Standard (Level 1) needs a government ID plus a selfie and usually completes in 5 to 20 minutes. Advanced (Level 2) adds a proof-of-address document. Pro (Level 3) requires enhanced due diligence including proof of income.

Unverified accounts can deposit crypto and spot trade, but face a daily withdrawal cap (historically 2 BTC-equivalent) and are blocked from many derivatives features. Completing Standard KYC is required to unlock the product catalog most users come to Bybit for.

Yes. Bybit supports institutional and business KYC, which requires corporate registration documents, beneficial-owner information, and additional due diligence. Processing takes longer than individual KYC and is handled by a separate institutional team.

Yes, through Bybit EU GmbH, which holds a MiCA CASP authorization from Austria's FMA and can passport services across most EEA countries. EU users are onboarded onto the EU entity rather than the global platform, which changes some available products.

Between December 2-16, 2024, Bybit completed a forced migration of all accounts to the Unified Trading Account (UTA) system. Standard and legacy UTA accounts are no longer supported — every Bybit account now operates under UTA by default. UTA combines Spot, USDT Perpetual, USDC Perpetual, Inverse Perpetual, and Options trading under one account, so you no longer transfer funds between separate wallets to trade different products. Your entire portfolio acts as collateral (cross-collateral margin), which boosts capital efficiency but also means losses in one product can affect margin available for others. UTA supports different account modes (Isolated Margin, Cross Margin, Portfolio Margin) that you can switch between — automation bots must specify the correct mode in API calls. Impact on automation: UTA requires Bybit API v5; if your bot or service used the older v3 endpoints, it needs updating. PickMyTrade already uses Bybit API v5 and handles UTA seamlessly. Ensure your automation specifies the correct position mode (one-way vs. hedge) and margin type — mismatched settings will cause order rejections. Some users have reported unexpected borrowing fees under UTA when their margin balance dips below required levels; monitor your account for auto-borrowing if running leveraged strategies.

The base spot fee is 0.10% maker and 0.10% taker for regular users. VIP 1 drops to roughly 0.06% maker / 0.08% taker, and higher VIP tiers can reach 0.01% / 0.03%. Paying fees with BB (Bybit's native token) can reduce the effective rate further.

Base futures fees are approximately 0.020% maker and 0.055% taker. VIP tiers reduce this to 0.00% / 0.03% at the highest levels. These are applied per fill, not per order.

Perpetual contracts have no expiry, so a funding rate keeps their price anchored to spot. Every 8 hours (00:00, 08:00, 16:00 UTC) longs pay shorts or vice versa, depending on whether the perpetual trades above or below the index price. Some high-volatility contracts settle more frequently.

Network fees vary by coin and chain. For example, withdrawing USDT on Tron (TRC-20) can cost around 1 USDT, while the same USDT on Ethereum (ERC-20) is closer to 10 USDT because Ethereum gas is more expensive. Bybit publishes the current fee for each coin/chain pair on the withdrawal page.

On-chain crypto deposits are free - Bybit does not add a platform fee. You still pay the network's transaction cost to move the coin onto the chain. Fiat deposits via card or bank can carry fees from the payment processor or P2P counterparty.

Bybit's P2P platform generally charges zero platform fees for takers buying or selling crypto peer-to-peer. You still need to account for any payment-method fees your bank or provider charges, and makers have separate rules.

On spot the base rates are similar (~0.1%), but Bybit's futures taker fee (0.055%) is slightly higher than Binance's (0.04%). At VIP tiers the gap narrows. Fee competitiveness depends heavily on your volume and whether you use token-based discounts.

Bybit perpetual futures use a funding rate mechanism that creates a real cost (or benefit) for holding positions overnight. Funding payments occur every 8 hours at 00:00, 08:00, and 16:00 UTC. If the rate is positive (common in bull markets), longs pay shorts; if negative, shorts pay longs. Holding overnight exposes you to 1-2 funding payments depending on entry time. Typical costs: under normal conditions, ~0.01% per 8-hour interval, annualizing to roughly 11% of position size. During high volatility, rates can spike to 0.1-0.3% per interval (130-390% annualized) — this can quickly eat into leveraged profits. Example: $10,000 in BTC perps at 10x leverage with 0.01% rate = ~$1 per interval, or ~$3/day; during a spike to 0.1%, that jumps to $30/day. Tips for automated traders: monitor funding rates before deploying overnight strategies; consider using TradingView time-based flatten alerts via PickMyTrade to exit before costly funding intervals; extreme funding rates often signal crowded trades and potential reversals.

The UTA merges your spot, futures, and options balances into a single account with shared margin. Unrealized profits on one position can act as margin for another, and more than 70 coins can be used as collateral. Upgrading to UTA is one-way - you can't revert to a classic account after the upgrade.

Bybit supports spot trading, USDT and USDC perpetual futures, inverse (coin-margined) contracts, options on BTC and ETH, and a margin-trading mode on spot. There is also P2P, a Launchpad for new token sales, copy trading, and several Earn products.

You browse a leaderboard of Master Traders, allocate capital (minimum ~100 USDT), and their trades mirror into your account automatically. Classic mode copies positions 1:1, Pro mode pools into a NAV-style strategy product, and TradFi copy trading covers MT5 forex and commodity signals.

Launchpad is Bybit's token-sale platform where you can commit USDT (or stake BB) for a chance at early allocations of newly listed projects. It works through a lottery-style subscription model rather than a first-come-first-served model.

Bybit Earn bundles flexible and fixed-term savings, Dual Asset, liquid staking, and on-chain staking into one menu. APRs and lock-up periods vary by product, and some products carry principal risk even though the headline yield looks attractive.

Bybit offers USDC-settled options on BTC and ETH with expiries ranging from daily to quarterly. You can buy or sell calls and puts, see Greeks, and view a P&L probability chart in the trading UI. Sellers face margin requirements; buyers pay a premium up front and cannot be liquidated.

Bybit offers up to 100x leverage on major pairs like BTCUSDT perpetual, with lower caps on smaller altcoins. Higher leverage tightens your liquidation price, so most experienced traders keep effective leverage well below the maximum.

Log in, go to Assets - Deposit, pick the coin and the network (e.g. USDT on TRC-20), and send from your wallet to the generated address. Deposits are free at the platform level; you pay only the network gas fee.

Yes, where regulation allows. Bybit supports Visa and Mastercard purchases via One-Click Buy across 50+ fiat currencies. Fees and limits depend on the processor and your region, and some countries don't have card payments enabled.

P2P lets you buy or sell crypto directly from another user using a local payment method (bank transfer, wallet, etc.). Bybit escrows the crypto and releases it after the seller confirms fiat receipt. The platform supports 57+ fiat currencies and 550+ payment methods.

USDT and USDC are the two dominant stablecoins on Bybit and settle most of its markets. USDT supports multiple chains including TRC-20 and ERC-20; USDC is mainly on Ethereum and a handful of other networks. Always pick the right chain on both sender and Bybit or funds can be lost.

Bybit usually processes withdrawal requests within minutes after review, but it can take longer during high-volume periods or if risk checks are triggered. Once broadcast, arrival time depends on the blockchain - Tron and Solana withdrawals land fast, Ethereum can take longer during congestion.

Yes, each coin and network has its own minimum, set slightly above the network fee so withdrawals don't net to zero. You can see the minimum on the withdraw screen before confirming; attempting to withdraw below it gets rejected.

Bybit uses a mix of cold and hot wallets, multi-sig approval workflows, and insurance funds on the derivatives side. Publicly it runs monthly Merkle-tree Proof of Reserves audits - verified by Hacken since mid-2024 - showing reserves of 100% or more against user balances.

It's a Merkle-tree-based cryptographic audit that lets you verify your individual balance is included in the reported total, without exposing other users' balances. Bybit publishes a fresh report roughly monthly and has consistently shown >100% coverage on major assets.

On February 21, 2025, attackers (attributed to the DPRK-linked Lazarus Group) compromised a Safe{Wallet} developer workstation and manipulated a transaction UI, draining roughly $1.5B in ETH from a Bybit cold wallet. Bybit said users would not bear losses and backed balances with reserves while pursuing recovery. Customer-facing trading was not directly breached.

Bybit requires 2FA for login, withdrawal, and sensitive settings. You can bind Google Authenticator (or another TOTP app), SMS, and email codes. An authenticator app is strongly recommended because SMS is vulnerable to SIM-swap attacks.

Yes. Turning on Withdrawal Address Whitelist restricts outgoing transfers to addresses you have explicitly pre-approved. Combined with the New Address Lock - which delays a newly added address from being used for 24 hours - it's the single best guardrail against drain-style attacks.

It's a short string you set in your security settings that Bybit then embeds in all its legitimate emails and SMS. If an alleged Bybit email arrives without your code, it's a phishing attempt and you should not click links inside it.

Not applicable - Bybit is a retail crypto exchange, not a prop firm. For prop firm automation via PickMyTrade, look at Tradovate, Rithmic, TradeLocker, Match-Trader, or ProjectX. These are the platforms that host the major futures and CFD prop firms.

No. Bybit has copy trading and Master Trader programs, but it doesn't sell evaluation challenges or funded-trader accounts in the prop-firm sense. If you want evaluations-to-funded, that lives in the traditional futures/CFD ecosystem.

A handful of small crypto-focused 'prop' programs use Bybit-compatible APIs or copy trading, but none are household names comparable to the big futures prop firms. For automation, stick to Bybit's own retail and copy-trading products, or use a futures-focused prop firm on Tradovate / Rithmic / ProjectX.

The most common reasons are: the ID photo is blurry or expired, your proof-of-address document is older than three months, you submitted a scanned/e-copy instead of a clean photo of a physical document, or Bybit detected another verified account with the same ID. You can re-submit after checking the email Bybit sends with the rejection reason.

Usual causes: wrong network selected (e.g. sent USDT on BEP-20 to a TRC-20 address), the coin needs more block confirmations, or you forgot a required tag/memo on coins like XRP or XLM. Bybit offers a self-service deposit recovery form for missing-memo cases; wrong-network sends are sometimes unrecoverable.

Withdrawals get held when the address and chain don't match, the amount is below the minimum, the balance is locked by open orders, you've hit the 24-hour withdrawal limit, or risk systems flag the transaction. Canceling active orders and moving funds to the Funding wallet often unlocks a pending request.

That error almost always comes from clock drift: your phone's time isn't synced with the authenticator. Go to Google Authenticator - Settings - Time correction for codes - Sync now, or enable automatic time zone on your device and retry.

Log in, click 'Having problems with verification', pick 'Google Authenticator not working', and Bybit emails/SMSes you a recovery code. If you also lost access to your email and phone, you can file a manual support case - expect a 1-3 business day response. Saving your Recovery Key Phrase when you first set up 2FA makes this much faster.

Common causes: the key hit its 90-day expiry (keys without an IP whitelist auto-expire), your server IP changed and isn't on the whitelist, system time on the machine making the request is off by more than a few seconds, or you accidentally unchecked Trade permissions. Re-generate the key and IP-whitelist it to avoid the 90-day reset.

Binance wins on breadth: more listings, deeper spot liquidity, and a larger fiat on-ramp network. Bybit is widely seen as more focused on derivatives UX, with a cleaner perpetuals interface, competitive futures fees, and strong copy trading. Both restrict US users; Binance has a separate Binance.US entity, Bybit does not.

Both are top-tier derivatives venues with deep liquidity on BTC and ETH perps. OKX typically edges Bybit on spot liquidity and a wider range of trading products (including DEX integrations), while Bybit is often preferred for the UTA experience and copy trading. Fee structures are close at retail tiers.

BingX is best known as a copy-trading-first platform with a large social trading community and slightly cheaper base futures taker fees. Bybit has deeper derivatives liquidity, more institutional tooling, and a broader product range (options, Launchpad, UTA). Most high-volume traders pick Bybit; beginners focused on copy trading often start with BingX.

Bitget has a larger registered user base and a flagship copy-trading product, plus a well-funded protection pool. Bybit tends to be rated higher for pro traders thanks to stronger derivatives liquidity, UTA, and options. Fees are broadly similar at entry tiers.

For non-US traders who want derivatives and leverage, Bybit is the obvious choice - Coinbase's international derivatives offering is narrower and geared more to institutional users. Coinbase is stronger for regulated fiat rails and custody comfort, while Bybit is stronger for active trading and low derivatives fees.