Bybit has expanded its derivatives offerings with the introduction of the BDXNUSDT perpetual contract, featuring leverage of up to 12.5x. The exchange announced the June 3, 2025 listing through its official portal, marking another strategic move in its competitive derivatives market expansion.
Traders can now access this new instrument through Bybit’s Unified Trading Account system, which supports cross-margin functionality. The contract joins other popular perpetuals like BTCUSDT and ETHUSDT, which collectively handle billions in daily trading volume according to Bybit’s May 2025 metrics.
The launch follows Bybit’s recent listing of SOPH/USDT perpetuals with 50x leverage on May 29, demonstrating the exchange’s aggressive product rollout strategy. This comes three months after delisting the BNXUSDT contract in March 2025 as part of regular portfolio optimization.
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About BDXNUSDT Perpetual Contracts
BDXNUSDT represents a cryptocurrency pair that tracks the value of BDXN against Tether’s stablecoin. Unlike traditional futures, perpetual contracts lack expiration dates, allowing continuous position holding with funding rate adjustments every eight hours.
Traders can access:
- Maximum leverage: 12.5x
- Margin calculation: Initial and maintenance requirements
- Risk management: Auto-deleveraging protection
Leverage and Margin Mechanics
Bybit’s 12.5x leverage enables traders to control positions 12.5 times their collateral. The platform employs a dual margin system:
| Margin Type | Purpose | Typical Percentage |
|---|---|---|
| Initial | Position opening | 8% (1/12.5) |
| Maintenance | Liquidation buffer | 0.5%-2.5% |
Margin requirements adjust dynamically based on market volatility, with liquidations occurring when equity falls below maintenance levels. Bybit’s risk engine prevents negative balances through its auto-deleveraging system.
Market Impact and Competition
This listing strengthens Bybit’s position against rivals like Binance and OKX in the perpetual contracts arena. The exchange has demonstrated consistent growth, with derivatives volume increasing 40% quarter-over-quarter according to their Q1 2025 report.
Industry analysts suggest the BDXN listing targets institutional traders seeking exposure to mid-cap digital assets. The move coincides with growing demand for altcoin derivatives, which now constitute 35% of total crypto derivatives volume according to CryptoCompare data.
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- Perpetual Contract
- A derivatives instrument without expiration date, using funding rates to maintain price alignment with spot markets.
- Leverage
- The practice of using borrowed funds to amplify trading positions, expressed as a multiplier (e.g., 12.5x).
- Maintenance Margin
- The minimum equity required to keep a leveraged position open, triggering liquidation if breached.
- Liquidation
- Automatic position closure occurs when trader’s equity falls below maintenance margin requirements.
