Bybit, the world's second-largest cryptocurrency exchange by trading volume, announced the launch of Bybit Odds, a new Price View Contract that allows users to trade on the future price movement of BTC and ETH with fixed returns and a defined amount at risk.

The launch adds a new format to the growing range of crypto odds products available through centralized exchanges, while keeping the trading process within Bybit's existing platform and account infrastructure.

Three Trading Formats for BTC and ETH

Bybit Odds is initially available for BTC and ETH through three Price View Contract formats:

1. Up/Down: Users take a view on whether the price will be higher or lower at the end of the selected period.
2. Price Target: Users take a view on whether the price will be above or below a specified price at expiry.
3. Price Range: Users take a view on whether the price will remain within or move outside a specified price range at expiry.

Available trading periods range from five minutes, 15 minutes to seven days, covering both short term and longer duration price views.

Defined Exposure and Fixed Returns

The return for each Bybit Odds trade is displayed before the order is placed. Users can start with an allocation of 5 USDT, while the amount allocated to a trade represents the maximum amount at risk for that position.

As Bybit Odds does not use leverage, positions are not subject to liquidation or margin calls associated with leveraged trading. This allows users to determine their exposure at the point of entry rather than adjusting margin as the underlying price moves.

Bybit Odds is integrated with Bybit's Unified Trading Account (UTA) and is available on both Web and App. Users can access the product through their existing Bybit account and use USDT from their UTA.

The product is supported by institutional market makers, providing liquidity for available contracts and facilitating pricing within the Bybit trading environment.

Bybit Odds expands the range of trading products available on the platform, giving users another way to participate in crypto price movements alongside Bybit's existing spot and derivatives markets.