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    Comparison Between a Unified Trading Account and Standard Account
    bybit2024-05-28 10:22:38

    Starting from September 2023, Bybit will transition new users to the Unified Trading Account (UTA), replacing the Standard Account which requires holding specific assets for certain trades. The UTA allows traders to use various margin assets as collateral in one account, converted into USD for trading purposes. This shift not only streamlines asset management but also enhances capital utilization, offering increased flexibility and efficiency. This article will further explore the differences between these two account types.




    1. Overall Differences

     

    Standard Account

    Unified Trading Account

    Single or Multi Asset Margin

    Traders must hold the specific asset related to the trading product in each account to participate. For instance, USDT is required in the Derivatives Account to trade USDT contracts.

    Traders can use a variety of supported margin assets as collateral, eliminating the need for the exact settlement asset. For example, holding BTC in a UTA allows the trader to place a USDT Contracts order by using the BTC's equivalent USDT value as collateral.

    Accounts to Manage

    1. Funding Account

    2. Spot Account

    3. Derivatives Account

    4. USDC Derivatives Account

    1. Funding Account

    2. Unified Trading Account

    3. Inverse Derivatives Account

    Trading Products Supported 

    1. Spot

    2. Spot Margin

    3. Leveraged Tokens

    4. USDT Contracts

    5. Inverse Contracts

    1. Spot

    2. Spot Margin

    3. Leveraged Tokens

    4. USDT Contracts

    5. Inverse Contracts

    6. USDC Contracts

    7. USDC Options

    Unrealized P&L Offset across Products

    Not Supported

    Unrealized profits from one derivatives product can be used to offset losses in another (except in Isolated Margin mode). For more details, visit here.





    2. Types of Trading Products

     

    Spot and Spot Margin 

    USDT Contracts

    USDC Contracts

    USDC Options 

    Inverse Contracts

    Standard Account

    Spot Account

    𐄂

    𐄂

    𐄂

    𐄂

    Derivatives Account

    𐄂

    𐄂

    𐄂

    Unified Trading Account

    Unified Trading Account



    (For Isolated Margin mode, Spot Margin and USDC Options are not supported in UTA)

    𐄂

    Inverse Derivatives Account

    𐄂





    3. Assets as Collateral Required

     

     

    USDT Contracts

    USDC Contracts

    USDC Options 

    Inverse Perpetual & Futures

    Standard Account

    USDT

    Not supported in Standard Account

    The respective settlement assets

    Unified Trading Account

    Any supported margin assets in Unified Trading Account 






    4. Position and Margin Mode

     

     

    Margin Mode

    Position Mode

    Standard Account

    1. Isolated Margin

    2. Cross Margin

    1. One-way Mode 


    2. Hedge Mode

    • Support different leverage settings for long and short positions. 

    • Only available for USDT Perpetual Contract.

    Unified Trading Account

    1. Isolated Margin

    2. Cross Margin

    3. Portfolio Margin


    Margin mode switching can be supported even when there are open positions or active orders, subject to the criteria stated here.

    1. One-way Mode 


    2. Hedge Mode 

    • Both long and short positions have to use the same leverage settings. 

    • Only available for USDT Perpetual Contract.





    5. Borrowing and Interest

     

     

    Spot Margin Trading

    USDT Contracts

    USDC Contracts

    Inverse Contracts

    Standard Account

    Users can borrow from the platform while using other margin assets as collateral for repayment. Interest will be charged on the borrowed amount.

    Borrowing not supported

    Unified Trading Account

    Users can borrow from the platform while using other margin assets as collateral for repayment. Interest will be charged on the borrowed amount. For more information, please visit here

    Borrowing not supported





    6. Risk Management

     

     

    Liquidation

    Standard Account

    Liquidation triggers when the Mark Price reaches the Liquidation Price. The liquidation price is calculated based on parameters such as initial margin rate, maintenance margin rate, and available balance. 

    Unified Trading Account

    According to different margin modes, liquidation is based on different criteria. 


    Isolated Margin Mode: Similarly to Standard Account, liquidation triggers when the Mark Price reaches the Liquidation Price. 


    Cross or Portfolio Margin Mode: According to the initial margin and maintenance margin of the position, calculate the account's initial margin rate and maintenance margin rate. When the account's maintenance margin rate reaches 100%, liquidation is triggered. For more information, please visit here.





    To learn more about the liquidation process, please refer to the following articles: 

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