Competition Calendar
- Early registration: –
- General registration: –
- Late registration: –
- Preheat: –
- Competition: –

Eligibility
1. Users must complete Identity Verification Lv. 1 to participate in WSOT.
2. Only Unified Trading Accounts (UTA) are eligible, including UTA Main Accounts and Subaccounts.
3. Market Makers, institutional users and Pro 3 or above are not eligible.
4. Users must click the "Register" button on the WSOT page to join competitions and events.
5. To join the daily P&L% leaderboard during Preheat, maintain a balance over $100 for at least 5 minutes at the start of each day's leaderboard period.
6. In Preheat, only UTA Main Accounts can receive tasks. Switch to your Main Account to view and complete tasks.

About Preheat
1. New user exclusive
-For new users only.
- Complete tasks in this category to receive rewards.
- Rewards are limited and distributed on a first-come, first-served basis.
- A 10 USDT credit will be sent to eligible winners' Rewards Hub after a 3-day pending period.
- Lucky draw rewards will be sent to eligible winners' Rewards Hub within 14 days after WSOT concludes.
2. Refer & earn more
- Complete tasks in this category to receive rewards.
- Rewards are limited and distributed on a first-come, first-served basis.
- A 7 USDT credit will be sent to eligible winners' Rewards Hub after a 3-day pending period.
- Lucky draw rewards will be sent to eligible winners' Rewards Hub within 14 days after WSOT concludes.
3. Daily mystery box giveaway
- Reach daily trading milestones in various categories to unlock Bronze, Silver, and Gold mystery boxes.
- Daily trading milestones are distributed based on user status/account info.
- Trade more to achieve milestones and unlock additional rewards.
- Trading volume from zero-fee pairs will not count toward total volume.
- Mystery box rewards, if any, will be sent to eligible winners' Rewards Hub.
4. Daily P&L% leaderboard
- A fixed daily prize pool of $20,000 will be shared among the top 500 participants in individual P&L% rankings, for 9 consecutive days.
- To participate, maintain a balance over $100 for 5 minutes at the beginning of each day’s leaderboard period.
- Rankings and rewards are recalculated every 24 hours. Ranking starts at 10AM UTC each day and ends at 10AM UTC the next day. Users joining between 9:55AM UTC and 10AM UTC will not be ranked that day.
- To receive leaderboard rewards, participants must achieve a daily trading volume of at least $10,000.
- Rewards will be sent to eligible winners' Rewards Hub within 14 days after WSOT concludes.

P&L% ranking calculations
1. P&L% = Profit / (Initial Equity + Total Deposits) * 100%
2. Profit = [final equity (including unrealized P&L and/or bonus) – initial equity (including unrealized P&L and/or bonus) + withdrawals – deposits]
3. Deposits = Accumulated deposits (including transfers, awarded bonuses, commissions, asset conversions, and Lending redemptions) during competition.
4. Withdrawals = Accumulated withdrawals (including any withdrawals, asset conversions, and assets lent via Lending) during competition.
5. Transfers to or from UTA during competition are considered deposits or withdrawals. Account equity updates every 5 minutes.
6. P&L% includes all USDT and USDC Perpetual contracts, USDC Options, Spot Trading, Spot Margin Trading, and Leveraged Tokens.
7. Tokens in UTA are converted to USD equivalent. Overall P&L% may fluctuate based on token prices.
8. Options that expired without delivery and 0-fee options will not be calculated.

Terms and Conditions
1. If similar trading strategies are detected, only the participant with the largest P&L% or profit will continue.
2. If matched trading is detected, all associated users will be disqualified from Squad Showdown.
3. Users cancelling more than 10 orders per minute may be disqualified.
4. Bybit can disqualify users engaged in inappropriate, dishonest, or abusive behaviour, including wash trading, volume faking, multiple accounts, or market manipulation.
5. Bybit has the final interpretation of terms. For questions, contact Customer Support.
6. Only participants with Individual Identity Verification Lv. 1 or Business Verification are eligible. Participants from [restricted countries and regions](https://www.bybit.com/en/help-center/article/Service-Restricted-Countries) are not eligible.
7. Users in the European Economic Area (EEA) are not eligible. Participation in the EEA is prohibited.