Cryptocurrency platform Bybit has launched Bybit Odds, a new type of fixed-payout contract tied to Bitcoin and Ethereum price movements. The product is already available through Bybit’s website and app, allowing users to predict future price direction without leverage or liquidation risk and to establish the potential payout and maximum risk before opening a trade.

Bybit representatives announced the launch in a press release provided to Incrypted.

Three contract formats

Bybit Odds offers three types of contracts tied to Bitcoin and Ethereum price movements:

• Up/down: Users choose whether an asset’s price will be higher or lower at the end of a specified period.
• Target price: Users predict whether the price will exceed a set level when the contract expires.
• Price range: Users determine whether the price will remain within a specified range or break out of it.

Contract durations range from five minutes to seven days. Before confirming a trade, users can view the potential payout and set the position amount in USDT. The minimum position size is 5 USDT, and the amount allocated to the contract represents the maximum amount at risk.

No margin calls or liquidations

Unlike traditional leveraged trading, Bybit Odds does not involve margin requirements or position liquidations. Users therefore know in advance the maximum amount they can lose on a specific contract, regardless of subsequent fluctuations in the underlying asset.

The product is integrated with Bybit’s Unified Trading Account, or UTA. Users can deploy USDT from an existing UTA without creating a separate account.

Institutional market makers provide liquidity for the contracts and also contribute to pricing on the platform.

Bybit positions Odds as an additional tool alongside spot trading and derivatives. The product is available to Bybit users through the exchange’s website and mobile app.

Source: Incrypted