Only users with individual KYC Lv. 1 or Lv. 2 (business KYC is not accepted) can trade or stake Earn products. For more information, please refer to FAQ- individual KYC．
1. What is Dual Asset?
Dual Asset is a short-term trading tool that gives you the opportunity to earn higher returns in low-volatility markets. All you have to do is predict the direction of a given crypto asset such as BTC, ETH, LINK, BIT, and many more, within a pre-set timeframe and enjoy higher returns on your capital.
Traders can select USDT or an alternative token as the deposit asset. Upon maturity, you will receive your returns in the form of USDT or your chosen crypto asset, depending on the outcome of your trade. The settlement asset will be in either USDT or an alternative token, depending on the Settlement Price relative to the Benchmark Price.
Let’s take ETH/USDT as an example.
Deposit Asset: USDT
If Settlement Price < Benchmark Price, users will receive ETH upon settlement.
If Settlement Price ≥ Benchmark Price, users will receive USDT upon settlement.
Deposit Asset: ETH
If Settlement Price < Benchmark Price, users will receive ETH upon settlement.
If Settlement Price ≥ Benchmark Price, users will receive USDT upon settlement.
Notes:
— The Benchmark Price is the spot price of the relevant USDT pairs at the point when your product plan begins. It’s derived from the Bybit index price (weighted average of spot price across several exchanges) five minutes after your order is successfully processed.
— The Settlement Price is the spot price of the relevant USDT pairs at the point when your product plan expires. It’s derived from the Bybit index price (weighted average of spot price across several exchanges) in the last 30 minutes before settlement.
— Read more about the calculation of Bybit’s index price here.
2. Is Dual Asset product right for you?
Dual Asset might be a good fit for you:
- If you're comfortable holding either USDT or the chosen crypto asset
- If you wish to earn a higher yield and do not mind receiving your money back in an alternate crypto asset.
- If you predict that the volatility between the two crypto assets you have chosen is relatively stable.
3. Are there any uncertainties?
The APY is guaranteed. However, the corresponding returns in asset value are not guaranteed due to price (value) fluctuations. As mentioned above, the settlement asset will either be in USDT or an alternative token depending on how the Settlement Price compares to the Benchmark Price.
4. Are there minimum deposit limits?
Yes. The minimum deposit amount will be indicated in the order zone.
5. What types of Dual Asset products can I purchase?
You can choose from short-term deposit periods of 1-, 3-, and 5-days.
6. Is my yield calculated based on the APY shown when I purchase the product?
Yes. The APY displayed at the time of purchase will be used to calculate your yield.
Please note that the estimated APY will be updated every five minutes, and is determined according to market movement. The earlier you purchase, the higher the APY.
7. Is my yield calculated based on the Benchmark Price shown when I purchase the product?
No, your actual Benchmark Price will be the spot price of your selected asset, and is determined five minutes after your order has been successfully submitted.
Please note that the price showing on the order confirmation window is the estimated Benchmark Price, which will be updated at 5-minute intervals.
8. Why am I unable to make purchases when I have a sufficient balance?
It could be due to the fact that the particular token that you’ve selected for deposit has been sold out.
You can choose the alternative token as your deposit asset. Please note that new plans are released every day at 10:00 AM UTC.
9. How do I calculate my return?
Traders can select either USDT or the alternative token as the deposit asset.
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Examples:
Deposit Asset: USDT
If Trader A uses 1,000 USDT to purchase a 1-day Dual Asset product with a 300 % APY, the Benchmark Price is $4,000. One day later, one of two things will happen:
— If the ETH final Settlement Price is below $4,000, the deposited 1,000 USDT will be converted into 0.25 ETH at a price of $4,000, plus a return with a 300% APY, which is 0.2521 ETH based on the following calculation:
Total Return = Deposit Amount/Benchmark Price × (1 + % APY × Deposit Period/365)
= 1,000 / 4,000 x [1+ 3 x 1/365] = 0.2521 ETH
— If the ETH final settlement price is above or equal to $4,000, Trader A will receive a principal of 1,000 USDT and a return with 300% APY, which is 1,008.21 USDT based on the following calculation:
Total Return = Deposit Amount × (1 + % APY × Deposit Period/365)
= 1,000 × [1+ 3 x 1/365] = 1,008.21 USDT
Deposit Asset: ETH
Let's say that Trader B uses 1 ETH to purchase a 1-day Dual Asset product with a 284% APY. The Benchmark Price is $3,500. 1 day later, one of two things will happen:
— If the ETH final Settlement Price is below $3,500, Trader B will receive a principal of 1 ETH and a return with a 284% APY, which is 1.0078 ETH based on the following calculation:
Total Return = Deposit Amount × (1 + % APY × Deposit Period/365)
= 1 × [1 + 2.84 x 1/365] = 1.0078 ETH
— If the ETH final Settlement Price is above or equal to $3,500, the deposited 1 ETH will be converted into 3,500 USDT, plus a return with a 284% APY, which is 3,527.23 USDT based on the following calculation:
Total Return = Deposit Amount × Benchmark Price × (1 + % APY × Deposit Period/365)
= 1 × 3,500 x [1+ (2.84 x 1/365)] = 3,527.23 USDT
10. Why are my returns less than my initial deposit amount (when measured in USDT) ?
Traders may have this impression because the value of the token returns — if converted at the prevailing spot rate — may be less than what was originally deposited. The value of tokens (when measured in USDT) is not guaranteed due to potential price fluctuations of the assets.
Let’s take the examples mentioned in the above question to illustrate:
Trader A:
Assuming the settlement price is $3,800 (i.e., below $4,000) one day later, USDT was converted to ETH with the inclusion of the yield gained. In this scenario, Trader A may believe they lost money from Dual Asset if they use the settlement price to calculate the USDT value of the ETH return (957 USDT) and compare it to the initial deposit amount (1,000 USDT).
However, if Trader A had used 1,000 USDT to buy ETH on the Benchmark Price day, they would have received only 0.25 ETH — while the return they got from Dual Asset is 0.2521 ETH. Even though the Settlement Price went below the Benchmark Price, Trader A managed to secure more ETH coins than they originally had.
Trader B:
Assuming the settlement price is $4,000 (i.e., above $3,500) one day later, ETH was converted to USDT with the inclusion of the yield gained. Trader B may believe they lost money by participating in Dual Asset because they’ve used the Settlement Price to compare how much they’d have earned if they’d sold off their ETH on the day of settlement. However, if Trader B had sold off their ETH on the Benchmark Price day, they would have received only 3,500 USDT — while the return they got from Dual Asset is 3,527.23 USDT.
11. When do I receive my payouts?
You can check the payout distribution time from the Dual Asset order page here.
12. Can I cancel my Dual Asset order?
Once the purchase is confirmed, your Dual Asset order cannot be modified or canceled.
13. How do I purchase Dual Asset products on Bybit?
Please ensure that sufficient funds have been transferred to your Bybit Earn Account before any purchase is made. For more information, please refer to How Can I Buy Dual Asset Products on Bybit?
14. How do I view Dual Asset products I've purchased on Bybit?
Please refer to How to View Dual Asset Orders on Bybit.
15. How can I withdraw my output?
Dual Asset returns will be credited to your Earn Account. Please make a transfer from your Earn Account --> Spot Account before proceeding with the withdrawal. There is no minimum transfer amount or fee required.
16. When will my order for yield generating become effective?
It will be based on the duration of the purchased product, counting from the settlement time. Taking a three-day product as an example, the order will be effective three (3) days before the settlement time.