Bybit Odds is a fixed-return trading product that lets you take a directional view on crypto prices with clearly defined risk and reward. Simply select a product type, choose your direction, and allocate USDT. If your prediction is correct at settlement, you receive a pre-displayed fixed return. If incorrect, your allocated amount is forfeited.

How Does It Work?

There are three product types under Bybit Odds: Up/Down, Price Target, and Price Range. For all product types, you can subscribe using USDT from your Unified Trading Account (UTA).

At settlement, you receive your return based on whether the settlement price meets your selected condition. The settlement method varies by product type (see below).

1. Up/Down

2. Price Target

3. Price Range

Up/Down

With Up/Down, you allocate based on whether the underlying asset's index price will go up or down relative to your Entry Price at the end of a fixed 5-minute or 15-minute window.

There are two scenarios at settlement:

Scenario 1: Correct prediction

If the settlement price moves in your selected direction (above Entry Price for Up, below for Down), you win.

Return = Allocation Amount × Payout Ratio

Scenario 2: Incorrect prediction

If the settlement price does not move in your selected direction — or lands exactly on the Entry Price (draw) — your allocated amount is forfeited.

Example

Trader A places an Up/Down order with the following parameters:

Underlying: BTCUSDT

Direction: Up

Allocation: 100 USDT

Payout Ratio: 1.90

Duration: 5 minutes

Entry Price (at matching): $95,000

At settlement, one of the following two scenarios will occur:

1. Correct: The settlement price is $95,200 (above Entry Price). Trader A receives:

Return = 100 × 1.90 = 190 USDT (net profit of 90 USDT, before fees)

2. Incorrect: The settlement price is $94,800 (below Entry Price). Trader A's 100 USDT allocation is forfeited.

Notes:

— Settlement is based on the live index price at the exact moment of expiry.

— The Entry Price is locked at the moment your order is matched, not the price shown on screen when placing the order.

Price Target

With Price Target, you allocate whether the index price will be above or below a fixed Target Price at expiry. Settlement occurs at 08:00 UTC on the expiry date.

There are two scenarios at settlement:

Scenario 1: Correct prediction

If the Bybit Settlement Price is on your selected side of the Target Price (above for Above, below for Below), you win.

Return = Allocation Amount × Payout Ratio

Scenario 2: Incorrect prediction

If the Bybit Settlement Price is not on your selected side — or lands exactly on the Target Price (draw) — your allocated amount is forfeited.

Example

Trader B places a Price Target order with the following parameters:

Underlying: ETHUSDT

Direction: Above

Allocation: 200 USDT

Target Price: $3,500

Payout Ratio: 2.50

Expiry: 2025-01-15, 08:00 UTC

At settlement:

1. Correct: The Bybit Settlement Price is $3,620 (above Target Price). Trader B receives:

Return = 200 × 2.50 = 500 USDT (net profit of 300 USDT, before fees)

2. Incorrect: The Bybit Settlement Price is $3,450 (below Target Price). Trader B's 200 USDT allocation is forfeited.

Notes:

— The Bybit Settlement Price is the arithmetic mean of the index price sampled every second over 30 minutes before 08:00 UTC on the expiry date.

— All Price Target contracts on the same product settle at the same time.

Price Range

With Price Range, you allocate on whether the index price will fall within (In) or outside (Out) a specified price interval defined by a Lower Bound and Upper Bound at expiry. Settlement uses the same method as Price Target.

There are two scenarios at settlement:

Scenario 1: Correct prediction

If the Bybit Settlement Price falls within (for In) or outside (for Out) the price range, you win.

Return = Allocation Amount × Payout Ratio

Scenario 2: Incorrect prediction

If the Bybit Settlement Price does not meet your selected condition — or lands exactly on either boundary (draw) — your allocated amount is forfeited.

Example

Trader C places a Price Range order with the following parameters:

Underlying: BTCUSDT

Direction: In

Allocation: 100 USDT

Lower Bound: $90,000

Upper Bound: $100,000

Payout Ratio: 1.80

Expiry: 2025-01-15, 08:00 UTC

At settlement:

1. Correct: The Bybit Settlement Price is $95,500 (within the range). Trader C receives:

Return = 100 × 1.80 = 180 USDT (net profit of 80 USDT, before fees)

2. Incorrect: The Bybit Settlement Price is $101,200 (outside the range). Trader C's 100 USDT allocation is forfeited.

Fees

Bybit Odds charges a small taker fee on every filled order. The fee is deducted from your Trading Account at the time of execution, separately from your allocation.

Formula:

Taker Fee = Fill Value × Fee Rate × (1 − 1 / Payout Ratio)

Where:

• Fill Value = the amount you allocate (in USDT)

• Fee Rate = 0.06 (Up/Down) or 0.045 (Price Target / Price Range)

• Payout Ratio = the return multiplier shown on your contract

The fee scales with the Payout Ratio — lower-payout trades incur lower fees; higher-payout trades incur higher fees.

Example:

Fee Rate = 0.045, Fill Value = 100 USDT

Risk

Bybit Odds is not a risk-free product. The following risks are associated with Bybit Odds:

1. Your entire allocated amount can be lost on any single contract — there is no partial recovery.
2. Due to market volatility, short expiry windows (e.g., 5 minutes) can amplify the effect of sudden price movements.
3. The index price is derived from multiple external exchanges. In rare cases of data feed disruptions, it may differ from the price on any single venue.
4. A draw (settlement price landing exactly on the boundary) results in forfeiture of your allocated amount.
5. Trading may be temporarily suspended during extreme market conditions; existing open contracts will still settle normally.
6. Only USDT is supported for allocation. API trading is not available at this time.

Always allocate only what you can afford to lose, and familiarize yourself with the product mechanics before trading.