What are stock TradFi Perpetuals and why trade them on Bybit

Crypto traders often want exposure to stock-price movements without switching platforms, converting funds to fiat or opening a separate brokerage account. Stock TradFi Perpetuals are Bybit's answer: USDT-settled perpetual contracts linked to the prices of supported stocks. They form part of Bybit's broader TradFi Perpetuals catalog of 1,300+ instruments spanning stocks, ETFs, crude oil, gold and silver. This article explains what they are, how the stock-specific mechanics work in practice, how they compare with CFDs and xStocks on Bybit and why they may appeal to a crypto-native trader.

Key Takeaways:

• Stock TradFi Perpetuals are USDT-settled perpetual contracts that track stock prices without requiring share ownership or a separate brokerage account.

• They trade continuously with adjustable leverage, letting crypto traders access equities using the same collateral and interface they already use for perpetual contracts.

• Stock-specific elements such as market-hours pricing, earnings events and split adjustments shape how these contracts behave in ways that standard crypto perps do not.

What are stock TradFi Perpetuals?

Stock TradFi Perpetuals are USDT-settled perpetual contracts whose price tracks the market price of a supported stock. Like other perpetual contracts, they carry no expiry date and use a funding rate mechanism to keep the contract price aligned with its reference price. The trader never owns the underlying shares — gains and losses are calculated purely on stock-price movement, settled in USDT.

If you are new to how perpetual contracts work in general — including funding, leverage and liquidation mechanics — the What are TradFi Perpetuals on Bybit? article covers those foundations in full. This article focuses on what makes the stock-linked version distinct.

The short version: stock TradFi Perpetuals sit inside your existing Bybit Unified Trading Account, use USDT as collateral and settlement currency, and let you go long or short on supported stocks without converting a single dollar into fiat.

How do stock TradFi Perpetuals work in practice?

Unlike crypto assets, which trade around the clock on global exchanges, stocks trade on underlying markets with scheduled opening and closing hours, corporate earnings calendars and occasional structural events like splits. Those realities shape how a stock-linked perpetual contract behaves.Here is what you need to know:

• Price tracking during market hours: while the underlying stock market is open, the contract tracks the stock price through an index-price mechanism, keeping the perpetual closely anchored to the real-time reference price

• Pricing when the market is closed: Bybit applies component-management and smoothing mechanisms to support continuous pricing outside regular trading hours. Liquidity may be lower and spreads may widen during these periods

• Funding: periodic funding payments help reduce differences between the perpetual contract price and its reference price. Depending on the funding rate and your position direction, you may pay or receive funding at each interval

• Earnings releases and company news: scheduled events such as quarterly earnings can cause sudden, sharp price movements. When the underlying market reopens after a major announcement, the contract price may gap significantly — up or down

• Stock splits and reverse stock splits: Bybit automatically adjusts affected perpetual contracts following a stock split or reverse stock split, so open positions reflect the adjusted price without requiring manual action

• Shareholder rights: because you hold a derivative and not the underlying shares, you have no voting rights and no entitlement to dividends or other shareholder benefits

Note: Verify funding intervals and any per-contract trading hours specifications on the Bybit Help Center before trading, as these may vary across individual stock contracts.

How do stock TradFi Perpetuals compare with CFDs and xStocks?

Bybit offers three ways to access stock-price exposure. They differ in structure, settlement and what the trader actually holds.

None of these products is equivalent to holding shares through a traditional brokerage. Stock TradFi Perpetuals and CFDs are derivatives, while xStocks provide tokenized exposure backed by shares held by the issuer's custodian — holders do not directly own the custodied shares or receive voting rights. For corporate actions such as stock splits, Bybit automatically adjusts TradFi Perpetual contracts, while xStocks reflect changes through a rebasing mechanism that adjusts the number of tokens in a holder's wallet.

For a deeper breakdown, see What is CFD on Bybit? A beginner's guide to TradFi CFD trading and the full xStocks guide in Trading xStocks on Bybit: the complete guide to on-chain equities.

Why trade stock TradFi Perpetuals on Bybit?

For a crypto-native trader, the appeal comes down to a few practical advantages:

• Continuous access: take positions based on earnings releases or company news at any time, including outside the underlying market's regular trading hours. Note that off-hours spreads may widen and liquidity may be lower

• No separate brokerage account: stock TradFi Perpetuals use your existing Unified Trading Account. Bybit identity verification, product eligibility checks and geographic restrictions still apply

• USDT settlement: positions are funded and settled in USDT, so there is no need to convert funds into fiat currencies at any stage

• Familiar interface: the same Bybit trading interface, margin framework and liquidation model used for USDT perpetual contracts

• Industry-leading fees: zero taker fees and 50% off maker fees on TradFi Perpetuals, reducing the cost of entering and exiting positions compared to traditional brokerages and competing exchanges

• Fractional exposure: minimum trade sizes as low as 0.01 units (roughly $5 in notional value), giving access to high-priced stocks without needing to buy a full share

• Up to 20x leverage: amplify exposure on traditional assets that typically offer only 2-4x margin through a conventional broker. Leverage is adjustable per contract within the available limits

• Deep liquidity: Bybit maintains 200-400% better liquidity on TradFi Perpetuals compared to competitor platforms, supported by dedicated market-maker partnerships. This means tighter spreads and reduced slippage on execution

• Unified margin with crypto: use the same USDT collateral pool for both crypto and TradFi positions via the Unified Trading Account. There is no need to move funds between separate accounts when switching between asset classes

• Broad coverage across markets: stock TradFi Perpetuals include equities listed across multiple global markets, with ongoing additions expanding the available selection

Note: The number of supported stock contracts and available sectors changes as Bybit adds new listings. Check the Bybit TradFi page for the current list before trading.

What are the risks?

Stock TradFi Perpetuals are leveraged derivative products. Before trading, consider the following:

• Leverage and liquidation: leverage amplifies both gains and losses. Positions can be liquidated if margin falls below the maintenance threshold

• Funding costs: you may pay funding at regular intervals depending on the rate and your position direction. This affects the total cost of holding a position over time

• No shareholder rights: you have no ownership stake, no dividend entitlement and no voting rights. Bybit may adjust contract specifications when corporate events such as splits or reverse splits occur

• Off-hours pricing: liquidity is typically lower and spreads wider when the underlying stock market is closed. Execution quality may differ from on-hours trading

• Gap and event risk: earnings announcements or breaking company news can cause sudden, large price movements and reopening gaps that bypass stop-loss levels

The bottom line

Stock TradFi Perpetuals give eligible Bybit users a crypto-native path to supported stock-price movements — no fiat conversion, no separate brokerage account and no need to leave the platform you already use. With zero taker fees, fractional sizing from ~$5 and up to 20x leverage, the product is designed to make stock exposure as accessible as trading any other perpetual contract on Bybit. They sit alongside CFDs and xStocks as one of three ways to access equities on Bybit, and they are best suited for traders who want leverage, continuous access and USDT settlement.

Ready to get started? Explore the Bybit TradFi trading page to see the full list of supported stock contracts and open your first position.

#LearnWithBybit