Here’s a detailed process guide to help you start your first USDC Perpetual Contract trade.
Step 1: Please head over to the Bybit homepage. Click on Derivatives in the navigation bar, and select the contract type to enter the USDC Perpetual Trading page.
Step 2: Move to the Order zone on the right side of the trading page.
Step 3: Bybit offers three order types: Limit Order, Market Order and Conditional Order.
Using the BTC-PERP limit order as an example, please follow the steps outlined below to start placing your order.
1. Set your desired leverage.
2. Select order type: Limit, Market or Conditional.
3. Enter order price.
4. (a) Enter quantity, or
(b) Use the percentage bar to quickly set an order's contract quantity with the corresponding proportion of the account's available margin.
5. Set Buy Long with TP/SL, or Sell Short with TP/SL (optional).
6. Click Buy/Long or Sell/Short.
In addition, you can set additional functions according to your investment preferences, such as Post-Only, Reduce-Only, Close On Trigger and Time In Force strategy.
Before placing an order, please keep an eye on IM and MM. For more details about IM and MM, please refer to the following two articles:
— Under Regular Margin, only the cross margin mode is available.
— In USDC Perpetual Contract trading, only one-way mode is supported. Users can hold either a long or short position in a contract.
Step 4: Next, a confirmation window will appear. After checking the order information, click Confirm.
Your order has been submitted successfully!
Next, you can view the order details in the position tab, including Position Summary, Positions, Active, Conditional, Filled and Order History.
To check your historical order details, please click on Order History or More to enter the history page to explore more information.
There’s one important factor — Order Cost — you must give careful attention to when placing an order. Order Cost is the total margin required to open a position.
Order Cost = Initial Margin + Taker Fee to Open Position + Taker Fee to Close Position
To learn more about how to calculate the cost of an order, please refer to the following articles: