Bybit is a cryptocurrency exchange specializing in derivatives trading, with a clean and efficient futures trading interface suitable for traders of all levels. This article explains how to complete a futures position opening on Bybit. First register at Binance and download the Binance app — iPhone users can refer to the iOS installation guide — then follow along step by step.
Preparation Before Opening a Position
Complete Registration and Identity Verification
Register a Bybit account and complete at least Level 1 identity verification. Futures trading requires KYC to function properly.
Fund Preparation
Ensure your Bybit account has USDT. You can deposit through:
- Transfer USDT from other exchanges or wallets
- Buy via C2C trading with fiat currency
- Quick purchase with credit or bank card
Transfer Funds to the Futures Account
On the Bybit assets page, transfer USDT from spot account to derivatives account. The transfer is instant with no fees.
Detailed Steps to Open a Position on Bybit
Step 1: Enter the Futures Trading Page
Find the "Derivatives" entry in the App's bottom navigation and tap to enter. The default view shows BTCUSDT perpetual contract.
Step 2: Select the Trading Pair
Tap the trading pair name at the top of the page and enter the coin you want to trade in the search box. Beginners should choose BTCUSDT or ETHUSDT.
Step 3: Set the Margin Mode
Tap the "Isolated/Cross" toggle button on the page:
- Isolated: Recommended for beginners, with controllable risk
- Cross: Account balance serves as shared collateral, requiring stronger risk management
Step 4: Set Leverage
Tap the leverage button and drag the slider to select appropriate leverage:
- Beginners: 2x to 5x recommended
- Intermediate: 5x to 10x
- Not recommended to exceed 20x
Step 5: Choose the Order Type
Limit Order: Set a price and wait for the market to reach it. Lower fees.
Market Order: Execute immediately at the current best price. Suitable when you need quick entry.
Conditional Order: Set trigger conditions for automatic order placement. Useful for planned entry points.
Step 6: Enter Position Parameters
- For limit orders, enter your desired execution price
- Enter position size (by contract quantity or USDT amount)
- The system automatically shows required margin and estimated liquidation price
Step 7: Confirm the Position
After verifying all parameters:
- Go long by tapping "Buy/Long" (green button)
- Go short by tapping "Sell/Short" (red button)
Step 8: Set Take Profit and Stop Loss
Set TP/SL immediately after opening:
- Go to the "Positions" list
- Find your position and tap "TP/SL"
- Set your take profit and stop loss prices
- Confirm the settings
Important Notes for Opening Positions on Bybit
Confirm Direction
Many beginners get the direction wrong — intending to go long but clicking short. Double-check the direction before placing the order.
Confirm Quantity
Note whether the quantity unit is in contracts or USDT. Different input methods correspond to different position sizes.
Check Estimated Liquidation Price
Bybit shows the estimated liquidation price before order placement. Ensure there's sufficient distance between the liquidation price and your stop loss.
Watch for Slippage
Market orders during high volatility may have significant slippage. For large positions, use limit orders instead.
Bybit Futures Features
Unified Trading Account
Bybit also offers a Unified Trading Account supporting shared margin across spot and futures.
Dual Position Mode
Bybit supports holding both long and short positions simultaneously on the same trading pair, facilitating hedge strategies.
Copy Trading
Follow excellent traders' operations with the system automatically replicating their entries and exits.
Trading Bots
Bybit provides grid, DCA, and other automated trading tools suitable for users who can't watch the market constantly.
Bybit Fees
Regular User Rates:
- Maker: 0.02%
- Taker: 0.055%
Higher VIP levels unlock better rates. Using limit orders lets you enjoy the Maker rate.
FAQ
What's the Minimum Position Size on Bybit Futures?
Minimum position size varies by trading pair. BTCUSDT perpetual minimum is 0.001 BTC. In margin terms, you can start with just a few dollars.
Can I Set TP/SL When Opening a Position on Bybit?
Yes. Bybit supports setting TP/SL directly when opening a position, or adding them later from the positions list.
Does Bybit Support Simulated Trading?
Yes. Bybit provides a Testnet simulated trading environment where you can practice futures operations with virtual funds.
What If I Opened in the Wrong Direction?
If losses are small, immediately close at market to cut losses. Don't hold hoping for a reversal.
How Does Bybit Compare to Binance and OKX?
Bybit's futures interface is cleaner and focuses on derivatives. Liquidity isn't quite at Binance's level but is still ample. Suitable for users who value trading experience.
Safety Tips
- Only download from official Binance channels
- Practice on simulated trading first before going live
- Set stop loss immediately after every position — don't gamble
- Don't transfer all funds to the futures account
- Futures trading carries high risk — only use funds you can afford to lose