Bybit Leveraged Tokens

Using BTC as an example,

BTC3L refers to a Leveraged Token holding long positions of BTCUSDT Perpetual Contracts with 3x leverage.

BTC3S indicates a Leveraged Token holding short positions of BTCUSDT Perpetual Contracts with 3x leverage.

Leveraged Token trading will be channeled directly through your Bybit Spot Account.

Please refer to Differences Between Leveraged Tokens and Derivatives Trading.

Please refer to Bybit Leveraged Tokens: Fees Explained .

There are no liquidation risks.

Taking BTC3L as an example, the target leverage range is [2,4]. The rebalancing mechanism will automatically be triggered when the actual leverage ratio is ≥ 4x or ≤ 2x, to be adjusted to achieve the target leverage of 3x.

Note: Please be aware that the net asset value of a Leveraged Token could fall to zero, in which case it would be unrecoverable.

Rebalancing is a process to make sure that the Perpetual Contracts positions of the underlying asset will be dynamically adjusted to achieve the target leverage. The rebalancing mechanism will be automatically triggered when the actual leverage ratio falls outside the target leverage range.

For more information, please refer to Bybit Leveraged Tokens Rebalancing Mechanism.

Currently, withdrawals are not supported.