Bybit has launched Bybit Odds, a new fixed-return crypto price contract product that allows users to trade Bitcoin and Ether price views with defined risk parameters. According to a September 15 announcement shared with CNW, the product enables traders to allocate a defined amount of USDT to a price view and see potential returns before placing an order. The amount committed to each position represents the maximum amount that can be lost, with trades starting from 5 USDT. The product integrates with Bybit's Unified Trading Account and is supported by institutional market makers, providing enhanced liquidity and execution capabilities. As per PRNewswire, Bybit Odds gives traders an alternative to conventional leveraged products, allowing users to participate in crypto price movements without managing leveraged positions.
Bybit Odds offers three contract formats covering different trading approaches. Under the Up/Down format, traders choose whether the price of BTC or ETH will finish above or below its current level at the end of a selected period. Price Target contracts let users take positions on whether the asset will be above or below a predetermined price when the contract expires. Price Range contracts use a different structure, asking traders to choose whether the underlying asset will remain inside or move outside a specified range by expiry. Contracts can run from five minutes and 15 minutes through to seven days, catering to both high-frequency and short-term trading strategies. The return for each Bybit Odds trade is displayed before the order is placed, with users able to start with an allocation of 5 USDT.
The product features no leverage or liquidation risk as positions do not use leverage, leaving the amount at risk fixed when a user enters a trade. According to the exchange, positions do not face margin calls or liquidation because the contracts do not use leverage. Potential returns are shown before an order is confirmed, while the USDT allocated to the trade sets the maximum exposure. The product's defined maximum loss structure simplifies risk management for retail traders, potentially broadening user engagement and reducing barriers for users wary of margin risk. As per PRNewswire, this allows users to determine their exposure at the point of entry rather than adjusting margin as the underlying price moves, providing a straightforward way for traders to participate in crypto price movements.
The launch comes as trading platforms have been building products outside conventional spot and derivatives markets. Prediction markets recorded a record $50.59 billion in combined trading volume across Kalshi, Polymarket and Polymarket US in July, up 7.8% from the revised $46.95 billion in June. Bybit has been expanding its product offerings, with its TradFi perpetual lineup moving past 200 products after introducing contracts linked to Unitree Robotics and Moonshot AI in August. This represents an early-stage expansion of Bybit's product suite into fixed-return, defined-risk instruments to capture retail flow. Bybit Odds adds a new format to the growing range of crypto odds products available through centralized exchanges, while keeping the trading process within Bybit's existing platform and account infrastructure.
Unlike Bybit's leveraged derivatives products, Bybit Odds does not use leverage. Users choose the amount they want to commit before entering the position, with returns determined by the contract terms shown before confirmation. The product's no leverage or liquidation structure may shift flow from perps, while UTA integration and market maker support improve frictionless access and liquidity. For this product to become a larger catalyst, it must gain significant volume share and user adoption versus spot and perps markets, with potential disclosed in future metrics. The product is now live through both Bybit Web and App platforms, expanding the range of trading products available on the platform and giving users another way to participate in crypto price movements alongside Bybit's existing spot and derivatives markets. Bybit serves more than 80 million users globally and ranks as the world's second-largest cryptocurrency exchange by trading volume.
