Historical index price, index component breakdown, and premium index.

(Avg. Entry Price * MM Rate + Bankruptcy Price * 0.075% ) * Contract Size 


Long: 

Bankruptcy Price = Avg. Entry Price * (1 - 1 / Leverage) / (1 + Taker Fee Rate) - Available Balance / [(Contract Size * (1 + Taker Fee Rate)]

 Short: 

Bankruptcy Price = Avg. Entry Price * (1 + 1 / Leverage) / (1 - Taker Fee Rate) + Available Balance / [Abs (Contract Size) * (1 - Taker Fee Rate)]

Premiums for {baseCoin} Options are quoted at a minimum tick size of {tickSize} {settleCoin}.

The Options Contracts will be exercised on the expiration date in {settleCoin}. The delivery price is calculated using the average of the Bybit {baseCoin} Index over the last 30 minutes before the expiration of the contract. The delivery amount in {settleCoin} equals the difference between the strike price and the settlement price of the contract if it expires in the money. The Bybit {baseCoin} Index tracks the spot price of {baseCoin}. It is derived from a weighted average of quotes on multiple spot exchanges—including Kraken, Gemini, Coinbase Pro, Bittrex, and Bitstamp—with adjustments made for data usability.

The Options Contracts will be exercised on the expiration date in {settleCoin}. The delivery price is calculated using the average of the Bybit {baseCoin} Index over the last 30 minutes before the expiration of the contract. The delivery amount in {settleCoin} equals the difference between the strike price and the settlement price of the contract if it expires in the money. The Bybit {baseCoin} Index tracks the spot price of {baseCoin}. It is derived from a weighted average of quotes on multiple spot exchanges—including OKX, FTX, Coinbase Pro, and Binance—with adjustments made for data usability.

The trader bought a BTC call option with a strike price of $40,000, and paid $2,500 as the premium. He now has the right to buy 1 BTC at a price of $40,000. 

Let's assume that the price of BTC is $46,000 and the delivery price of the contract is $46,000 on the expiration date. 

In this case, the seller will pay the trader $6,000 on the expiration date. Because the trader paid $2,500 as the premium, his profit amounts to $3,500 (6,000 - 2,500). 

If the price of BTC is lower than $40,000 on the expiration date, the call option will expire worthless, and the trader will lose the premium paid. This delivery will happen automatically on Bybit, and the call option cannot be exercised by the trader before the expiration date.

The trader bought a BTC put option with a strike price of $30,000, and paid $2,000 as the premium. He now has the right to sell 1 BTC at a price of $30,000. 

Let's assume that the delivery price of the contract is $27,000 on the expiration date. 


In this case, the trader will receive $3,000 on the expiration date. Because he paid $2,000 as the premium, his profit amounts to $1,000 (3,000 - 2,000). 


If the delivery price is higher than $30,000 on the expiration date, the put option will expire worthless.

Optionskontrakte werden am Ablaufdatum in bar abgerechnet. Bei Bybit erfolgt diese Abwicklung automatisch.

8:00 Uhr (UTC) am festgelegten Ablaufdatum

Die anfängliche Margin ist die gesamte für die Eröffnung einer Position erforderliche Margin. Weitere Informationen findest du in den Artikeln im Hilfecenter.

Die Maintenance Margin ist die gesamte Margin, die erforderlich ist, um eine Position zu halten. Weitere Informationen findest du in den Artikeln im Hilfecenter.

Der Schätzpreis ist der aktuelle Wert eines Optionskontrakts, der mithilfe des Risikokontrollsystems von Bybit berechnet wird. Bybit setzt feste Grenzen für die minimale und maximale implizite Volatilität.

Highest Bid Price = Options Mark Price + {maxBuyFactor} * Index * Max[1 , 4 * Abs(Delta)]
 
Lowest Ask Price = Max{{tickSize}, Options Mark Price - {minSellFactor} * Index * Max[1 , 4 * Abs (Delta)]}

Trading Fee 

Taker {takerFeeRate} / Maker {makerFeeRate} 

Trading fees will not exceed {maxProportionOfTransactionInOrderPrice} of the Option's position value. 

Delivery Fee 

{basicDeliveryFeeRate} 

Delivery fees will not exceed {maxProportionOfDeliveryInOptionValue} of the Option's position value. 

Liquidation Fee 

{liquidationFeeRate} 

Liquidation fees (exclusive of trading fees) will be automatically added to the insurance fund.

The contract multiplier for Bybit Options is 1. Each contract has only 1 {baseCoin} as the underlying asset.

Premiums for {baseCoin} Options are quoted at a minimum tick size of {tickSize} USDC.

The Options Contracts will be exercised on the expiration date in USDC. The delivery price is calculated using the average of the Bybit {baseCoin} Index over the last 30 minutes before the expiration of the contract. The delivery amount in USDC equals the difference between the strike price and the settlement price of the contract if it expires in the money. The Bybit {baseCoin} Index tracks the spot price of {baseCoin}. It's derived from a weighted average of quotes on multiple spot exchanges — Kraken, Gemini, Coinbase Pro, Bittrex and Bitstamp — and has been adjusted by their data usability.

Depends on the price of {baseCoin}, which may vary between ${minStrike} to ${maxStrike}.

{symbolName} Contract Details

USDC

The Options Contracts are priced in USDC. 

Implied Volatility 

The Options Contracts can also be priced in implied volatility (IV). IV orders are updated once every 6 seconds to keep the IV at a fixed value.

The trader sells a call option with a strike price of $38,000. He receives $1,500 as the premium. 

Let's assume that the delivery price of the contract is $37,999 on the expiration date. 

The call option will expire worthless. The trader will collect a premium of $1,500, while the buyer will lose the $1,500 premium paid.

The trader sells a put option with a strike price of $37,000. He receives $1,800 as the premium. 

Let's assume that the delivery price of the contract is $37,001 on the expiration date. 

The put option will expire worthless. The trader will collect a premium of $1,800, while the buyer will lose the $1,800 premium paid.

The Options Contracts will be exercised on the expiration date in USDC. The delivery price is calculated using the average of the Bybit {baseCoin} Index over the last 30 minutes before the expiration of the contract. The delivery amount in USDC equals the difference between the strike price and the settlement price of the contract if it expires in the money. The Bybit {baseCoin} Index tracks the spot price of {baseCoin}. It's derived from a weighted average of quotes on multiple spot exchanges — OKX, FTX, Coinbase Pro and Binance — and has been adjusted by their data usability.

Ausübungspreis werden im Geld (In-the-money; ITM), am Geld (At-the-money; ATM) und aus dem Geld (Out-of-the-money) gelistet. Neue Ausübungspreise werden gelistet, sobald der Ausübungspreis über dem aktuell höchsten Ausübungspreis oder unter dem aktuell niedrigsten Ausübungspreis getradet wird.

Jeder Kontraktname enthält das zugrundeliegende Asset, das Ablaufdatum, den Ausübungspreis und -typ (C für Call, P für Put). Beispiel: BTCUSDC-26DEC25-80000-C ist eine Call-Option mit einem Ausübungspreis von 80.000 USDC, die am 26. Dezember 2025 abläuft.

The funding fee is exchanged directly between buyers and sellers every {hour} hours. It ensures that Bybit's last traded price is anchored to the reference index price.

(Avg. Entry Price * IM Rate + Bankruptcy Price * 0.075% ) * Contract Size 


Long: 

Bankruptcy Price = Avg. Entry Price * (1 - 1 / Leverage) / (1 + Taker Fee Rate) - Available Balance / [(Contract Size * (1 + Taker Fee Rate)]

 Short: 

Bankruptcy Price = Avg. Entry Price * (1 + 1 / Leverage) / (1 - Taker Fee Rate) + Available Balance / [Abs(Contract Size) * (1 - Taker Fee Rate)]

Mark price can be considered as a price that reflects the real-time spot price on major exchanges. It may temporarily deviate from the spot index to protect traders against market manipulations. 

Mark Price = Index Price + 30-Second Exponential Moving Average of (USDC Perpetual Market Price - Index Price). 

The USDC Perpetual market price will be the last traded price if it falls between the current best bid and the best ask. If the last traded price is lower than the best bid, the market price will be the best bid. If the last traded price is higher than the best ask, the market price will be the best ask.

Unrealized profits and losses will be settled every {hour} hours for higher capital efficiency.

USDT The Options contracts are priced in USDT. Implied Volatility The Options contracts can also be priced in implied volatility (IV). IV orders are updated once every 6 seconds to keep the IV at a fixed value.

Each contract name comprises the underlying asset, expiration date, strike price, and contract type, where "C" denotes a call option and "P" denotes a put option. 

For example, BTCUSDT-29OCT2021-48000-C represents a call option with a strike price of 48,000 USDT, expiring on Oct 29, 2021.

{symbol} futures contract will expire on {nextTime}. 1 contract is worth 1 USD.

{symbol} Futures-Kontrakt läuft am {nextTime} ab. 1 Kontrakt ist 1 {coin} Wert.

{symbol} Futures Contract Details

This contract expires at {date}, and settles at .{baseSymbol}30M index price as of {date}.

The .{baseSymbol} index tracks the spot price of {coin}/USD and is updated every second.

{baseSymbol} perpetual contract and {baseSymbol} futures contract use this index.

Futures-Kontrakte

USDT-Äquivalent

Echtzeit-Gewichtung

Index Price 

Bybit verwendet den Zinssatz und den Prämienindex zur Berechnung der Finanzierungsrate durch den Time-Weighted-Average-Price (TWAP) über eine Serie von Minutensätzen. 

A {coin}USD Perpetual Contract has no expiration date. Each contract is worth 1 USD in {coin} . Funding occurs every {hour} hours, and the next funding will take place at {time} UTC.

Contract Details

Der .{coin}-USDPI-Index verfolgt die Aufschlags-/Abschlagswerte von {coin}-Perpetual-Kontrakten im Verhältnis zum Schätzpreis pro Minute.

.{coin}PI: {coin} Prämienindex

The {coin}USD index tracks {coin} spot prices, with a frequency of every second. The {coin}USD latest price index is shown on multiple pages of Bybit, as is the current {coin} spot price.

Der Index stellt den Marktkonsenspreis des zugrundeliegenden Assets dar, sodass sich sein Preis aus mehreren Spot-Börsen ableitet. Der Referenzbörsenpreis, der die Datenverfügbarkeits-Prüfung bestanden hat, wird gewichtet, um den endgültigen Index zu erhalten. Die Quelle und das Gewicht der angegebenen Börsen sind in der nachstehenden „Index-Preis-Komponenten-Aufschlüsselung“ aufgeführt.

Erfahre mehr über die Validierung der Datenverfügbarkeit und die Berechnung des 

.{coin}: {coin} Spot Index

Please be aware that in the event of extreme price movements or deviation from the price index, Bybit will undertake additional protective measures, including but not limited to:

Premiumindex

.{symbol}PI Premium Index

.{symbol}PI Index Details

The .{symbol}PI index tracks the premium / discount of {symbol} perpetual contracts relative to the mark price per minute.

TP/SL-Preisschutz

References

.{symbol} Index

.{symbol} Index Details

The {symbol} index tracks the average spot price of {coin}/USDC and is updated every second.

The {symbol} index tracks the average spot price of {coin}/USDT and is updated every second.

Dieser Index spiegelt den Konsenspreis des zugrundeliegenden Assets wider und leitet seinen Preis aus mehreren Spot-Börsen ab. Die Referenzpreise, die die Validierung der Datenverfügbarkeit bestehen, werden gewichtet angepasst, um einen Indexpreis zu bestimmen. Für die Quelle und Gewichtung jedes Referenzpreises siehe die „Aufschlüsselung der Indexkomponenten“ unten.