Key Facts
- Bybit has switched on Perp Options, which it describes as the first options contracts written on TradFi perpetuals.
- SpaceX and Nvidia are the two underlying assets available at launch, with settlement handled in USDT.
- The contracts trade continuously, with no exchange opening bell and no weekend closure.
- A contract multiplier of one allows fractional lot sizes, in place of the 100-share block used in conventional options markets.
- Positions sit inside the Unified Trading Account alongside Spot and Futures, and qualify for Portfolio Margin offsets.
- Tesla, QQQ, SOXL and Micron are named as candidates for the next wave of listings.
DUBAI, United Arab Emirates — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has turned on Perp Options, a contract type the exchange bills as the industry’s first options built on TradFi perpetuals. The launch gives traders continuous access to US equity options from inside an existing Bybit account, with no session hours and no weekend gap.
From 17 September 2026, the product opens with SpaceX and Nvidia as its underlying assets. Settlement runs in USDT, keeping profit and loss legible without forcing traders into a second token or an extra conversion leg. Perp Options also slots into Bybit’s Unified Trading Account, so Spot, Futures and Options exposure sit under one balance rather than three.
Four trader profiles in the frame
Bybit is pitching the contracts at several audiences at once, a spread it ties to its ambition of building the New Financial Platform. Traders on crypto rails pick up TradFi options exposure without funding a separate brokerage relationship. Options specialists from traditional venues get a market that does not shut at the closing bell.
Macro traders can put directional views on global assets through an options wrapper, pairing familiar instruments with crypto-market availability and speed. Anyone already running Bybit’s TradFi perpetuals can write covered calls or protective puts straight onto those positions, tightening risk management without unwinding the underlying leg.
Strategy set and margin treatment
Beyond outright calls and puts, the venue supports spreads, straddles, covered calls and other combination structures from day one. The contract multiplier of one separates it from legacy equity options: lots are fractional, so the standard 100-share minimum does not apply. Portfolio Margin lets Perp Options positions net against related holdings, trimming total margin across asset classes.
“Bybit Perp Options is kicking off with space-age ambition and AI-infrastructure potential, but we are looking to expand beyond sectors in coming months to provide our traders with market access to Tesla, QQQ, SOXL,Micron, and more,” said Mike Xue, Head of Bybit Option Business. “The potential is enormous as Bybit’s own TradFi Perpetuals continues to grow from its current offerings of over 250 tickers.”
Built on a fast-growing perpetuals base
That ticker count is the base the options layer sits on, and it has been compounding. Bybit’s derivatives turnover reached $321bn in August, up 14.9% month on month, with its TradFi perpetual range stretching past 250 pairs across equities, commodities and exchange-traded funds. Real-world-asset perpetuals across all venues cleared $602bn over the same month. Rival routes are opening too: Crypto.com’s Nadex arm has registered with the SEC to trade security futures in the United States, a regulated path to a comparable destination.
Perp Options is live on the newest build of the Bybit App, making Bybit users the first to trade options written on TradFi perpetuals.
About Bybit
Bybit is The New Financial Platform. The company holds that everyone should reach every financial opportunity on earth, and is building an intelligent platform connecting anyone, anywhere, to global finance.
More than 80 million users worldwide rely on Bybit, which gathers investing, trading, payments and wealth-building into one secure ecosystem. AI-driven technology, deep liquidity, solid security and transparent operations make global finance more accessible and efficient. Built for everyone. Powered by intelligence. Open to the world.
Frequently Asked Questions
What makes Bybit Perp Options different from standard equity options?
They are written on TradFi perpetuals rather than on shares themselves, and they trade continuously instead of within exchange hours. Settlement is in USDT, so there is no conversion leg or second token to hold. A contract multiplier of one permits fractional lot sizes, replacing the 100-share block that conventional options markets require of buyers and sellers.
Which assets can be traded at launch?
SpaceX and Nvidia are the two underlying assets available from the 17 September 2026 start. Mike Xue, Head of Bybit Option Business, has flagged Tesla, QQQ, SOXL and Micron among the names lined up for coming months, drawing on a TradFi perpetuals range that already spans over 250 tickers.
How do the contracts interact with a trader’s other positions?
Perp Options sit within the Unified Trading Account, so Spot, Futures and Options can be held together under a single account. Portfolio Margin allows those options positions to be hedged against related holdings, which reduces the overall margin requirement as risk is managed across several asset classes at once.
