Bybit, a Dubai-based crypto exchange, has introduced USDT-settled perpetual contracts tracking three major currency pairs: EUR/USD, GBP/USD and USD/JPY. The products add foreign exchange to the exchange's traditional finance derivatives lineup and are available for continuous trading, with leverage of up to 100x.
The contracts track price movements in the underlying currency pairs without giving traders ownership of the currencies themselves. They have no expiration date, and profits and losses are settled in USDT. Trading is available around the clock, including periods when the underlying FX markets are closed.
The launch is part of Bybit's TradFi Perpetuals suite, which the exchange introduced in April and says now includes more than 200 assets spanning equities, commodities, exchange-traded funds and pre-IPO companies. The move extends the platform's derivatives offering into conventional market instruments.
Foreign exchange is the largest and most liquid financial market in the world. According to the Bank for International Settlements, global over-the-counter FX turnover averaged $9.6 trillion per day in April 2025.
Bybit is not the first crypto exchange to offer forex perpetuals. Kraken launched five forex perpetual futures with up to 50x leverage in April 2025, while BitMEX introduced six pairs with up to 100x leverage in April 2026.
