FAQ — Block Trades (Partner with Paradigm)
    bybit2022-08-29 07:59:29

    To help our institutional traders streamline trading and source liquidity for high-volume and spread trades, Bybit has teamed up with Paradigm — a platform that automates over-the-counter (OTC) crypto trading for large-size single and multi-leg trades.


    What are Block Trades?

    Block trades are large, privately negotiated transactions. As a block trading platform, Paradigm allows users to execute Spot, Contracts, Options and any combination of multi-leg trades. These types of transactions are allowed outside the Bybit order book. Once the two counterparties of the transaction reach an agreement, Paradigm will submit a margin calculation to the Bybit trading platform, as well as operation requests such as execution and settlement.


    What are the requirements to enable Paradigm API trading?

    There are two (2) requirements to meet:

    • Business KYC verification is required
    • Enable Google 2FA


    Please note that Bybit's affiliates are not allowed to conduct Paradigm API trading.


    What is the difference between normal API and Paradigm API?

    Paradigm has a dedicated API to support order matching for block trades, which is slightly different from the order-placement logic supported by most online Open APIs. 


    Where can I find Paradigm’s API codes for trading?

    No API codes are required. Traders can place orders directly on the Paradigm web or app trading page. To learn how to trade on Paradigm, please contact Paradigm’s 24/7 support.


    Which products are supported by Paradigm API trading?

    All Inverse Contracts — Perpetual and Futures, USDT perpetual, USDC Perpetual and USDC Options are supported.


    Spot trading is also supported, but not for Leveraged Tokens, Margin Trading or Institutional Lending.


    Are there any fees associated with Paradigm API trading? 

    Paradigm doesn’t charge a fee. The fees incurred are the same as those charged on the Bybit platform. For fee details, please visit here.


    Are my assets held on the Bybit or Paradigm platform?

    Your assets will be held on the Bybit platform.


    What PC systems or software are required for Paradigm API trading?

    Please contact Paradigm’s 24/7 customer support for more information.


    What are the minimum and maximum orders I can place?

    Order size limits vary by product and are detailed below:



    Maximum Order Size

    Minimum Order Size

    Inverse Contracts

    (Perpetual and Futures)

    10,000,000 USD

    1 USD

    USDT Perpetual 

    5× Max. Order Qty. per Coin

    1 USD

    USDC Perpetual 

    5× Max. Order Qty. per Coin

    1 USD

    USDC Options

    No Cap

    5 BTC

    50 ETH

    Spot Trading

    No Cap

    1 USD


    Are there any price restrictions when I place an order?

    For Derivatives contracts, the price cannot exceed 5 percent of the mark price on the Bybit platform. There are no restrictions on the Spot market.


    Is there a trading time limit?

    Trading is available 24/7, but due to the large number of orders settled at 12AM (midnight), 8AM and 4PM UTC, orders may be delayed or rejected within 30 seconds.


    Does paradigm API trading support Market Order, Limit Order, Conditional Order and TP/SL Order?

    A block trade is a transaction between two counterparties on the traded Derivatives or Spot at an agreed-upon price and trade volume, so it doesn’t support any conditions or trigger orders. For more information, please contact Paradigm’s 24/7 support.


    Does Paradigm support advanced order types such as Iceberg Orders, One-Cancels-the-Other Orders (OCO), Immediate-or-Cancel Orders (IOC), Bracket Orders or Trailing Stop Orders?

    Advanced order types are not supported in Paradigm API trading.


    What is the maximum leverage supported?

    Different trading pairs have corresponding maximum leverage. Please refer to the Risk Limit column under Contract Details, then click on the Risk Limit page to view more.


    What are the margin requirements for Paradigm API trading?

    Margin requirements depend on the Bybit platform. For more information, please visit here.


    Are margin calls supported for Paradigm API trading?

    Yes, margin calls are supported.


    How long do I have to deposit funds into my account when I receive a margin call?

    This will depend on current market conditions. Paradigm reserves the right to liquidate positions in the event of extreme market volatility.


    What is the liquidation process?

    For details on the liquidation process, please refer to the following:


    Are there risk management tools such as stop loss?

    No, traders are responsible for their own trading risk.


    Will orders for block trades go into Bybit's order book, or will they be traded over the counter?

    Since block trades are executed over-the-counter (OTC), these orders will not enter Bybit's order book, nor will they be recorded in Bybit's trade history (web page and APP). However, you can view them through the API.


    Is Paradigm's order book the same as Bybit's?

    No, their order books are different. All block trades will go to Paradigm's order book. Bybit only facilitates settlement and clearing functions for blocks. Therefore, these block trades do not enter Bybit's order book.


    Does Bybit or Paradigm take the opposite side of the trade, or is there an external counterparty to each trade?

    Bybit/Paradigm only facilitates trades between traders and is never the counterparty to any trade.


    Will Bybit be a counterparty with traders?

    Bybit only facilitates transactions between traders, and is by no means a counterparty to any transaction.


    Can I determine which broker the counterparty is using?

    Yes, traders will be able to view counterparty brokers.


    How will the closing and opening prices be determined if unforeseen circumstances cause trading to be suspended?

    In this case, the index price will be used as the mark price to determine the opening and closing prices.


    How many orders per second are supported in Paradigm API trading?

    Paradigm does not limit the number of orders on which a user can create or perform operations. However, Paradigm has rate limits on matching and nonmatching engine requests. When users reach their limit, they receive a 429 HTTP status code. For details, please contact Paradigm’s 24/7 support.


    Under what circumstances will my order be rejected?

    Orders will be rejected if there is insufficient balance to meet the margin requirements for opening the position.


    What should I do if I encounter problems during the transaction?

    If you experience account-related issues — such as account registration or API key settings — you can log in to your Bybit Account and click on the support icon in the bottom right corner to contact Bybit’s LiveChat support. Alternatively, you can send your request via this form.


    For technical or transaction-related questions, such as order fulfillment or order cancellation, please contact Paradigm’s 24/7 support.


    Can I modify or cancel an order after it’s been submitted?

    For transaction-related inquiries, please contact Paradigm’s 24/7 support.


    What should I do if I place an order with incorrect parameters and it can’t be canceled?

    For transaction-related inquiries, please contact Paradigm’s 24/7 support.


    If there’s a trade dispute, do we have an arbitration institution?

    There is no arbitrator. Bybit will conduct a thorough investigation of trade disputes and reserve the right to make final decisions in each case.


    What audit-trail details do I need to provide if there are trade disputes?

    All Paradigm-related orders, transaction records and user information will be marked as referenced.


    Will my funds/coins be protected if Bybit or Paradigm goes bankrupt?

    Your assets are stored in your Bybit wallet address. There is no capital guarantee arrangement.


    Will you share my transaction with tax authorities?

    No, Bybit does not share your trade history with tax authorities.

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