In order to prevent the market risk from being excessively concentrated on a small number of traders and risk of market manipulation, Bybit limits the ratio of the number of the open position of each individual user relative to the open interest of the specific contracts.
Individual or multiple accounts belonging to the same user, the sum of positions of any specific contract with the same direction must not exceed a certain percentage of the contract's open interest. Otherwise, Bybit may cancel any orders that may increase the position size.
Method of calculation:
Using inverse contract as an example, the first tier of open interest is 5,000,000. When a particular contract's open interest is on the first tier (0~5,000,000), the maximum position in the same direction (including existing position and active orders) a user can open is limited to 20% of the total open interest. For each increase in the total open interest tier, users can hold more positions according to the corresponding percentage.
Based on the open interest in the tiers, the maximum number of open positions that can be held by a single user for each direction is as follows:
|Total open interest tier||Maximum percentage of open positions held by each user in the tier||New position opened in the tier||Maximum limit of open position user can open|
|Not more than 5,000,000||20%||1,000,000||1,000,000|
|5,000,000 to 10,000,000||18%||900,000||1,900,000|
|10,000,000 to 15,000,000||16%||800,000||2,700,000|
|15,000,000 to 20,000,000||14%||700,000||3,400,000|
|20,000,000 to 25,000,000||12%||600,000||4,000,000|
|25,000,000 to 30,000,000||10%||500,000||4,500,000|
|30,000,000 to 35,000,000||8%||400,000||4,900,000|
|35,000,000 to 40,000,000||6%||300,000||5,200,000|
|40,000,000 to 45,000,000||4%||200,000||5,400,000|
|45,000,000 to 50,000,000||2%||100,000||5,500,000|
|50,000,000 to 55,000,000||2%||100,000||5,600,000|
|55,000,000 to 60,000,000||2%||100,000||5,700,000|
|60,000,000 to 65,000,000||2%||100,000||5,800,000|
|65,000,000 to 70,000,000||2%||100,000||5,900,000|
|70,000,000 to 75,000,000||2%||100,000||6,000,000|
|And so on…||2%||100,000||6,100,000|
|And so on…||2%||100,000||6,200,000|
For USDT Contracts
|Total open interest tier||Maximum percentage of open positions held by each user|
|Applicable to all tiers||5%|
Note: The maximum percentage of open positions held by each user is only limited to a single particular coin type. For example, a user can hold three positions, ETHUSDT, LTCUSDT, XTZUSDT, and the maximum open position size is limited to 5% of their individual open interests.