Bybit Launches TradFi Perp Option, Offering 24/7 Traditional Finance Options

Bybit officially launched the TradFi Perp Option today, using stock perpetual contracts as the underlying asset to combine option structures with the 24/7 liquidity of the crypto market, filling the gaps in traditional financial options regarding trading hours and entry thresholds. The product initially supports TSLA and NVDA starting September 17, and will expand to underlyings such as QQQ, SOXL, MU, SKHY, SPCX, and SNDK. This is a European-style option with a fixed expiration date. Unlike traditional stock options, it enables 24/7 round-the-clock trading, covering US stock pre-market, after-hours, and weekend periods; it settles in USDT cash, requiring no physical stock holdings or linked brokerage accounts; the contract multiplier is 1, supporting fractional trading, which completely breaks the traditional options threshold of 100 shares per contract. In terms of capital efficiency, the TradFi Perp Option supports the Portfolio Margin model. For buy-sell spread combinations, the long and short legs are automatically hedged, and margin is calculated based on net risk, significantly improving capital utilization. Users can seamlessly execute complete option strategies such as naked long/short Calls/Puts, spreads, and straddles through a single Bybit UTA account. The current non-VIP fee rate is 0.0300% Maker/Taker (promotional pricing valid until the end of December). The app version must be upgraded to 5.25.0 or higher.