Bybit launches 24/7 perpetuals for major currency pairs
Dubai-based crypto exchange Bybit has introduced USDT-settled perpetual contracts tracking three major forex pairs: EUR/USD, GBP/USD, and USD/JPY. These contracts expand Bybit’s lineup of traditional finance derivatives and offer up to 100x leverage, allowing traders to operate 24/7, including during closures of underlying FX markets. Profits and losses are settled in USDT, with the contracts providing exposure without ownership of the actual currencies and no expiration date.
Details of the New Contracts
The newly launched perpetual contracts cover major currency pairs EUR/USD, GBP/USD, and USD/JPY, allowing traders to speculate on currency movements without actual ownership. These contracts do not expire, typical for perpetual types, and offer up to 100x leverage — the highest level available on Bybit. Trading is available 24/7, including when traditional FX markets are closed, and settlements are made in the stablecoin USDT.
Market Context and Competition
This launch is part of Bybit’s broader TradFi Perpetuals suite initiated in April, now encompassing over 200 assets including equities, commodities, ETFs, and pre-IPO companies. The foreign exchange market remains the largest and most liquid worldwide, with an average daily over-the-counter turnover of $9.6 trillion as of April 2025, based on Bank for International Settlements data. Other crypto exchanges have also launched similar forex perpetual products: Kraken offered five forex perpetual futures with up to 50x leverage in April 2025, while BitMEX introduced six pairs with up to 100x leverage in April 2026.
Why it matters
This development is significant as Bybit expands its product offerings by integrating traditional financial markets into its crypto ecosystem. Launching perpetual contracts on major forex pairs with high leverage and 24/7 availability changes how traders and investors access foreign exchange exposure, blending the convenience of crypto markets with the liquidity of the world’s largest financial market. This product intensifies competition within crypto derivatives platforms by providing flexible instruments and highlights the increasing adoption of traditional financial assets by crypto exchanges.
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