How to Get Started with Crypto Loans

Crypto Loans is an overcollateralized loan service designed to meet your liquidity needs. It offers both flexible and fixed rate loans at competitive interest rates. By using your crypto as collateral, you can borrow funds without selling your holdings, which is ideal if you believe your assets will appreciate over time and prefer to hold them long-term.

 

 

• Place an Order
• View Your Orders
• Repay Your Loan
• Renew Your Loan
• Adjust Your Collateral
• Manage Legacy Orders

 

 

 

 

Place an Order

Step 1: Log in to the Bybit App and navigate to More → Finance → Crypto Loans to access the Crypto Loans page.

 

 

 

 

 

 

Step 2: Browse both flexible and fixed rate loan options under the All products, Flexible and Fixed tabs to find the offer you're looking for.

 

 

a) For a flexible rate loan:

Under the Flexible tab, you'll find a list of available assets and their annual interest rate. Tap on or search for the asset you wish to borrow. Specify the following details and tap Borrow:

• Loan amount — Tap Max to borrow the maximum amount allowed based on your collateral value and the asset's borrowing cap.

• Collateral asset and amount

 

 

Your LTV after borrowing, hourly/annual interest rate and estimated daily interest will be calculated automatically.

 

 

 

b) For a fixed rate loan to borrow funds:

Under the Fixed tab, select the asset you wish to borrow from the dropdown menu. The available durations and their corresponding annual interest rates will be displayed under I Want to Borrow.

 

Select an existing order under I Want to Borrow, or tap Borrow under the asset name to create a new order by providing the following details:

• Duration: Choose a duration ranging from 7 to 180 days. Please refer to the product page for available terms.

• Borrow Amount: Enter the amount you wish to borrow.

• Interest Rate: Specify your expected interest rate.

• Collateral: Select the supported collateral asset(s) available in your Funding Account.

• Repayment Method: 

  • Auto-Repay: Enable this option to automatically use assets in your Funding Account to repay the loan on the settlement date.

  • Convert to Flexible Rate: Enable this option to convert your fixed-rate loan into a flexible-rate loan automatically once it reaches maturity.

 

Once done, tap Borrow, and a confirmation pop-up will appear.

 

 

Notes:

— Interest is charged upfront. Once a borrow order is matched, the borrowed assets, minus the interest, will be credited to the borrower's Funding Account. Loans can be repaid at any time, but prepaid interest is non-refundable.

— If the loan is overdue, a penalty of three times the interest will automatically apply, accruing hourly during the grace period following the expiry date. If the loan remains unpaid by the end of this period, the collateral will be automatically liquidated to cover the loan and overdue interest. A liquidation fee of 2% of the loan amount will also be charged. If your collateral is converted to repay the loan, a 0.1% exchange fee will apply to the conversion.

— A single borrow order can be matched with multiple supply orders. If the matches occur at different times, the borrow order will have multiple settlement dates. 

— The LTV is calculated based on Cross Margin mode, where collateral assets are used across all loan orders. The Initial LTV is set at 80%, meaning the total value of your borrowed assets and interest cannot exceed 80% of your collateral's value (with the collateral value ratio applied).

 

 

Now your Crypto Loans order has been successfully placed!

 

 

 

 

 

 

 

View Your Orders

To view your loans, tap the "…" icon in the top-right corner of the Crypto Loans homepage to access My Dashboard.

 

 

 

You can also tap the LTV section of the page to access My Dashboard.

 

 

 

On your dashboard, all the details are organized under Total Debt, Funding, Borrowing and Collateral:

• Total Debt — Shows all assets borrowed and information under the Flexible and Fixed Rate Loan. The floating value is only displayed for Flexible Loan whereas fixed value is only displayed for Fixed Rate Loan. 

• Funding — Loan orders that are currently in the matching process, which is not yet fully executed but remains active until the matching is complete.

• Borrowing — Loan orders that have already been placed and active.

• Collateral: Lists all collateral assets with their quantity and USD value. Tap Adjust to modify your collateral.

 

 

 

Alternatively, tap the "…" icon in the top-right corner of the Crypto Loans homepage to access Loan order. You can view records across Flexible Rate Loan (legacy), Flexible Rate Loan and Fixed Rate Loan, with detailed information on your loans, repayments, interest, collateral and more. You can also filter by asset or time to narrow down the results.

 

 

 

 

 

 

 

Repay Your Loan

Step 1: From My Dashboard, tap Total Debt, locate the loan you'd like to repay, and tap Repay.

 

 

 

 

 

 

Step 2: If you have any liabilities from Fixed Rate Loan and Flexible loan, you may go to All section to repay the liabilities. If not, you may switch to either Flexible or Fixed section to do the repayment. Please note that the system will first repay the Flexible Rate Loan, followed by the Fixed Rate Loan.

 

Additionally, you may also select more than one type of collateral for the repayment. Kindly review the repayment details on the confirmation pop-up and tap Repay.

 

 

 

Now your loan and interest have been successfully repaid!

 

Notes:

— Partial repayments are allowed for Flexible Rate Loan and Fixed Rate Loan.

— Loans can be repaid at any time. For Flexible Rate Loan, interest is calculated based on the actual borrowing duration, and any period less than one hour is rounded up to a full hour. For Fixed Rate Loan, the interest is charged upfront when the loan is confirmed and won't be refunded if you repay early.

— If Auto-Repay is enabled for Fixed Rate Loan, assets in your Funding Account will be automatically used to repay the loan on the settlement date, helping you avoid overdue penalties. Make sure your account has enough funds to cover the full repayment; otherwise, the automatic repayment will fail.

— When making repayments, the repayment amount will first be applied to loan interests, then the borrowed amount.

— You can also enable a “repayment due” reminder by going to the Crypto Loan homepage and clicking the edit icon next to Expiring Soon in My Dashboard to set the number of days before the due date. Once a repayment is due, the number of expiring products will be displayed next to Expiring Soon.

 

 

 

 

 

 

 

 

Renew Your Loan

The Loan Renew function is only available for repaid orders with an amount greater than 0 and more than 6 hours before the due date. Please note that each loan contract can be renewed up to 5 times.

 

 

Step 1: From My Dashboard, locate the loan that you would like to renew and tap Renew.

 

 

 

Alternatively, you can also head to the order page by tapping the three dots on the upper right corner on the Crypto Loans page, and then on Loan order → Fixed Rate Loan → Borrowing to find the loan that you would like to renew and tap Renew.

 

 

 

 

 

 

Step 2: Set your collateral for the renewal borrowing, and review the LTV and repayment due date. Tap Renew to acknowledge the renewal.

 

 

Note: The loan amount is fixed and cannot be adjusted.

 

 

Now your loan has been successfully renewed!

 

 

 

To view your renewal records, you can tap the three dots button on the upper right corner and then on Loan order → Fixed Rate Loan → Renewal Records.

 

 

 

Tap the renewal order to see the breakdown records when you renew under the same loan order.

 

 

 

 

 

 

 

 

Adjust Your Collateral

Step 1: From My Dashboard, go to Collateral and tap Adjust.

 

 

 

 

 

 

Step 2: To add collateral, select the Add Collateral tab. Enter the amount you'd like to add, or tap Max to use the full available balance in your Funding Account. Adding collateral reduces your LTV and lowers your liquidation risk.

 

 

 

To remove collateral, select the Reduce Collateral tab. Enter the amount you'd like to withdraw, or tap Max to remove the Maximum Reduction Qty.

 

 

 

 

 

 

Step 3: Double-check the details and tap Confirm.

 

 

Notes:

— Collateral can only be reduced if the current LTV is below the Initial LTV.

— The Maximum Reduction Qty refers to the amount that brings your LTV back to its initial level. Please refer to the amount shown in the adjustment window.

 

 

 

 

 

 

 

Manage Legacy Orders

If you have active orders placed before the launch of the new Crypto Loans, you can manage them by tapping Crypto Loans (legacy) on the homepage. You'll still be able to make repayments and adjust collateral as usual. These orders follow the old LTV rules and won't be included in the new system's calculations. Please note that new loan orders can only be placed in the new Crypto Loans system.

 

 

 

 

 

For more information on Crypto Loans, refer to the following articles:

• Introduction to Crypto Loans

• FAQ — Crypto Loans

• Loan-to-Value Ratio and Liquidation (Crypto Loans)