Open Interest Limit (Perpetual and Expiry Contracts)

In order to prevent excessive market risk concentration on a small number of traders and the risk of market manipulation, Bybit limits the ratio of the number of open positions held by each individual trader relative to the open interest of the specific contracts.

For individual or multiple accounts belonging to the same trader, the sum of positions for any specific contract with the same direction must not exceed a certain percentage of the contract's open interest. If the maximum open interest limit for a particular contract type is exceeded, our system will automatically cancel any orders that may increase the position size.

Position Limit Calculation

Using an Inverse Contract as an example. Suppose the first tier of open interest is 5,000,000 USD. When a particular contract's open interest falls within the first tier (0 – 5,000,000), the maximum position that a user can open is limited to 20% of the total open interest. For each increase in the total open interest tier, users are allowed to hold more positions according to the corresponding percentage.

Based on the open interest in the tiers, the maximum number of open long or short positions that can be held by a single user are as follows:

For Inverse Perpetual and Expiry Contracts

1. BTCUSD/ETHUSD/EOSUSD/XRPUSD/SOLUSD/ADAUSD

Total open interest tier (USD)	Maximum percentage of open positions held by each user	New positions that can be opened at each tier (USD)	Maximum amount of open positions (USD)
< 5,000,000	20%	1,000,000	1,000,000
5,000,000 to 10,000,000	18%	900,000	1,900,000
10,000,000 to 15,000,000	16%	800,000	2,700,000
15,000,000 to 20,000,000	14%	700,000	3,400,000
20,000,000 to 25,000,000	12%	600,000	4,000,000
25,000,000 to 30,000,000	10%	500,000	4,500,000
30,000,000 to 35,000,000	8%	400,000	4,900,000
35,000,000 to 40,000,000	6%	300,000	5,200,000
40,000,000 to 45,000,000	6%	300,000	5,500,000
45,000,000 to 50,000,000	6%	300,000	5,800,000
50,000,000 to 55,000,000	6%	300,000	6,100,000
55,000,000 to 60,000,000	6%	300,000	6,400,000
60,000,000 to 65,000,000	6%	300,000	6,700,000
65,000,000 to 70,000,000	6%	300,000	7,000,000
70,000,000 to 75,000,000	6%	300,000	7,300,000
> 75,000,000	6%	-	>7,300,000

2. Other Inverse Perpetual and Expiry Contracts

Total open interest tier (USD)	Maximum percentage of open positions held by each user	New positions that can be opened at each tier (USD)	Maximum amount of open positions (USD)
< 5,000,000	20%	1,000,000	1,000,000
5,000,000 to 10,000,000	18%	900,000	1,900,000
10,000,000 to 15,000,000	16%	800,000	2,700,000
15,000,000 to 20,000,000	14%	700,000	3,400,000
20,000,000 to 25,000,000	12%	600,000	4,000,000
25,000,000 to 30,000,000	10%	500,000	4,500,000
30,000,000 to 35,000,000	8%	400,000	4,900,000
35,000,000 to 40,000,000	6%	300,000	5,200,000
40,000,000 to 45,000,000	4%	200,000	5,400,000
45,000,000 to 50,000,000	2%	100,000	5,500,000
50,000,000 to 55,000,000	2%	100,000	5,600,000
55,000,000 to 60,000,000	2%	100,000	5,700,000
60,000,000 to 65,000,000	2%	100,000	5,800,000
65,000,000 to 70,000,000	2%	100,000	5,900,000
70,000,000 to 75,000,000	2%	100,000	6,000,000
> 75,000,000	2%	-	>6,000,000

For USDT Perpetual and Expiry Contracts

Total open interest tier	Maximum percentage of open positions held by each user
BTCUSDT (Perpetual & Expiry)	5%
Other Perpetual & Expiry Contracts	Up to 10%

For USDC Perpetual Contracts

Total open interest tier	Maximum percentage of open positions held by each user
All USDC Perpetual	Up to 10%

Notes:

— The open interest limits calculation for Inverse Perpetual and Expiry contracts are subject to the maximum position limit of the contract or the tiered market open interest limit stated above. The formula for calculating the open interest limit is:

Position Limit = Max [(Market Open Interest x Tier Market Open Interest Limit), Position Limit]

— The open interest limits calculation for USDT Perpetual & Expiry and USDC Perpetual are subject to the maximum position limit of the contract or 5%~10% of the open interest limit stated above . The formula for calculating the open interest limit is:

Position Limit = Max [(Market Open Interest x Open Interest Limit), Position Limit]

— The maximum percentage of open positions held by each user is limited to each particular contract. For example, a user can hold three (3) positions in XRPUSDT, LTCUSDT, and XTZUSDT, but their maximum open position size for each of these contracts will be limited to 10% of their respective market open interests.