Bybit launches 24/7 perpetuals for EUR/USD, GBP/USD, and USD/JPY

Bybit just rolled out perpetual contracts tracking three of the world’s most traded currency pairs, giving crypto-native traders a way to speculate on forex markets without ever leaving the exchange. The new USDT-settled contracts cover EUR/USD, GBP/USD, and USD/JPY, and they trade around the clock with leverage up to 100x. Traditional forex markets close on weekends. These don’t. That’s the pitch. What Bybit is actually offering The three new contracts, listed as EURUSDUSDT, GBPUSDUSDT, and USDJPYUSDT, are synthetic perpetual contracts. They mirror spot forex rates but settle in USDT, meaning traders can collateralize positions with crypto assets rather than fiat currency. Like other perpetuals, there’s no expiration date. Positions stay open as long as the trader wants, subject to funding rate payments every eight hours. Bybit has capped that funding rate at 0.5%, which keeps costs from spiraling during periods of heavy directional bias. The tick size is set at 0.00001, matching the precision traders expect from institutional forex platforms. And to sweeten the launch, Bybit is temporarily waiving fees on limit orders entirely while offering a 50% discount on market order fees. T...