General Inquiries
What is a Unified Trading Account (UTA)?
The Bybit Unified Trading Account (UTA) is a versatile all-in-one account mode that offers traders access to multi-currency trading and core trading products, including Spot Trading, Spot Margin Trading, USDT Perpetual, USDC Perpetual & Futures, Inverse Perpetual & Futures, and USDT & USDC Options. It provides traders with a powerful option to combine trading and cross-collateral margin without switching between accounts.
In simpler words, supported margin assets in UTA can be collateralized, and a margin balance in USD (or your selected currency settings) will be calculated. You can use the available margin balance to place orders for trading products supported in UTA even without holding the respective settlement coin. For more information, please visit here.
What are the benefits of UTA?
Aside from the operational convenience of combining all trading instruments into a single account, UTA offers users several key trading benefits. For more information, please refer to the 8 Key Benefits of Upgrading to Bybit's Unified Trading Account.
How are my assets organized in a Unified Trading Account?
Below is the account structure under UTA:
-
Funding Account: You can make deposits or withdrawals via a Funding Account.
-
Unified Trading Account: To trade Spot, Spot Margin, Inverse Perpetual & Futures, USDT Perpetual, USDC Perpetual & Futures, and USDT & USDC Options.
What is the Margin Balance and is this the amount I can use to place an order?
Margin Balance is only relevant in UTA Cross Margin and Portfolio Margin mode. It is the total amount that can be used as a margin in your account, including Wallet Balance, and Unrealized P&L of Perpetual contracts. If the margin balance falls below the maintenance margin, liquidation will be triggered. Do note that the value is a converted value after considering the asset index price and collateral value ratio and not the actual USD amount held in your account.
While Margin Balance shows the amount that can be used as a margin in your account, Available Balance is the available margin balance that you can use to place an order. You can see the Available Balance for order placement on the trading page.
Why is the Margin Balance shown on my Assets page different from the amount of assets I hold? How is it calculated?
Only assets that are enabled to be Used as Collateral will be calculated as Margin Balance. Also, according to the different liquidity conditions of each coin, the collateral value ratio of different assets varies. The total margin balance in USD value of your Unified Trading Account is based on the following calculation:
Total Asset Value (in USD) = Sum (Asset 1 × Corresponding USD Index Price × Corresponding Collateral Value Ratio + …. + Asset N × Corresponding USD Index Price × Corresponding Collateral Value Ratio)
The collateral value ratio only applies to assets with a positive balance. For assets with a negative balance, the collateral value ratio will default to 100%, regardless of what asset it is. To view the collateral value ratio of each coin, please refer to the Margin Specification.
How to derive the USD Index Price?
The USD Index Price can be derived as follows:
USD Index Price = USDT Perpetual Index Price x USDT Conversion Rate
USDT Conversion Rate = BTCUSD Index Price / BTCUSDT Index Price
If there is no USDT Perpetual Index Price for a certain coin, the Last Traded Price from the Bybit Spot market will be taken as a reference. Take ETH as an example, the USD index price for ETH will be ETHUSDT Index Price x USDT Conversion Rate.
What is the transferable amount?
The transferable amount on your UTA asset page is the maximum amount of the respective coin that you can transfer out from UTA for withdrawal. This is an estimated amount after considering the unrealized loss, initial margin, frozen amount for active orders or borrowings, haircut loss, order loss, or any negative option value.
The actual amount that can be transferred is subject to the real-time display in the Transfer window. You will not be able to transfer out more funds from UTA when IMR reaches 100%. Please note that unrealized profit can only be used for trades but cannot be transferred out.
Trading Related
What margin modes are supported by UTA?
Isolated Margin, Cross Margin, and Portfolio Margin modes are supported in UTA. For more information, please visit here.
How can I switch my margin mode?
You can switch your margin mode from any trading page or Unified Trading Account asset page. Please note that to switch to Cross Margin mode, the leverage and risk limit used for two-way positions (long and short positions) must be the same. Otherwise, the switch will fail. For more information, please refer to the criteria to switch margin modes stated here.
Can I have different margin modes for different trading pairs?
No, the margin mode selected will be applied to the account level and all trading pairs.
Can I have different leverage for different trading pairs?
Yes, you can have different leverages for different trading pairs. However, do note that under the Cross Margin Hedge mode, traders are not able to set different leverage for long and short directions.
What position mode is supported in UTA?
Both One-way and two-way (Hedge) modes are supported in Cross Margin and Isolated Margin modes. For the two-way (Hedge) mode, only USDT Perpetual is supported.
What are the differences between each margin mode?
For the details of the difference between each margin mode under UTA, please visit here.
What is Portfolio Margin mode?
Under Portfolio Margin mode, traders can offset the Collateral Risk and unrealized P&L between Spot and Derivatives. It is a risk-based margin policy that uses Stress Testing (the mark price and implied volatility of the underlying asset) to calculate the overall risk of a portfolio. For more information, please refer to Margin Calculations under Portfolio Margin.
Does Spot hedging necessarily reduce the overall margin under Portfolio Margin mode?
Enabling Spot hedging generally decreases the overall margin requirement under Portfolio Margin mode. However, certain scenarios may lead to an increase in margin:
-
Insufficient Spot assets held in the Unified Trading Account.
-
Inability to risk hedge the spot and derivative positions, due to opposing delta directions.
-
Significant price deviation between the index price and the underlying price for the Derivative position.
Is Spot hedging optional?
Yes, traders have the freedom to decide whether to engage in Portfolio Margin (PM) hedging for Spot assets. By default, the Spot hedging in Portfolio Margin mode is not enabled. To enable it, the system will check if your MMR is below 100% after switching, otherwise, the activation will not be successful.
Why am I unable to place an order?
This might be due to your account having an Initial Margin Rate (IMR) of 100%. Please be aware that when the account's IMR is 100%, new Derivatives and spot margin orders that would occupy the margin cannot be placed. For more details, please refer to the Trading Rules: Liquidation Process.
Can I place an order even if the available balance for the settlement coin is insufficient in UTA?
Yes, if you are using Cross Margin or Portfolio Margin mode, as long as you have supported collateral assets and its equivalent USD value under the account is sufficient, you can open your positions or place orders. However, it may incur liabilities (in that currency) after the trade is executed. You can view the respective available balance under each trading page.
For the Isolated Margin mode, you will need to hold the respective settlement coin to trade the products. For example, you will need to have USDT to trade a USDT Perpetual contract. Under Isolated Margin mode, only Spot Trading, USDT Perpetual, and USDC Perpetual & Futures are supported.
Can I open a position with unrealized profits?
Yes, UTA enhances capital efficiency by allowing traders to use unrealized profits to open new positions. This means that even if a position hasn't been closed, its unrealized profits can be leveraged for new trades. However, it is important to note that while this strategy increases potential gains, it also raises the account risk if the market moves unfavorably. Please note that this is only applicable for Cross Margin and Portfolio Margin mode. For more information on how unrealized P&L can affect your available balance, please visit here.
Can all assets in the Unified Trading Account be used as collateral?
Not all assets in UTA can be used as collateral for Derivatives and Spot Margin trading. To view the supported margin assets, please visit here.
Can I select which assets to use as collateral for trading?
Yes, you can choose the assets you want to use as collateral on your UTA asset page. Please note that USDT and USDC will always be set as default collateral, and their collateral status cannot be turned off. For more information, please refer to Understanding Collateral Value Ratios in Unified Trading Account.
How to assess my UTA account risk?
Isolated Margin Mode: Under UTA Isolated Margin mode, for Perpetual or Futures contracts, when the Mark Price reaches the Liquidation Price of your position, your position will be liquidated and closed at the bankruptcy price. Please visit Liquidation Process for Derivatives Trading.
Cross Margin or Portfolio Margin Mode: Under UTA Cross Margin or Portfolio Margin mode, you are using the Initial Margin Rate (IMR) and Maintenance Margin Rate (MMR) to assess your account risk. When MMR reaches 100%, the liquidation process will be triggered.
For more details, please refer to the Trading Rules: Liquidation Process (Unified Trading Account).
Why is my profitable position still being liquidated?
This could happen when you are in Cross Margin or Portfolio Margin mode. Liquidation is triggered when the account Maintenance Margin rate (MMR ) reaches 100%. If you hold multiple positions and some of them incur losses, causing your account MMR to hit 100%, liquidation will still be triggered, and the Derivatives positions will be closed based on their specified liquidity order outlined here.
Under what circumstances will I receive a risk notification for a Unified Trading Account?
You may receive three (3) risk alert notifications via email as follows:
1. Auto Repayment Alert: When the Maintenance Margin Rate of your Unified Trading Account is 90% and your account currently has a borrowed amount, you will receive an email to inform you that your margin assets will be sold to settle all liabilities if your maintenance margin utilization reaches 100%. You will receive such risk email notification no more frequently than every four (4) hours.
2. Derivatives Liquidation Alert: If the Maintenance Margin Rate is > 85%, and there are Derivative positions in the account, you will receive an email to inform you that liquidation will be triggered once the Maintenance Margin Rate reaches 100%. You will receive such warning emails no more frequently than every four (4) hours.
3. Maximum Borrowing Amount Alert:
-
When your borrowing amount reaches 90% of the maximum borrowing limit, a risk email will be sent.
-
When your borrowing amount reaches 100% of the maximum borrowing limit, you will receive a risk email. A delay on Auto Repayment will be granted. If either of the two conditions below happens, the Auto Repayment will trigger immediately.
-
The duration for the borrowed amount exceeding 100% of the maximum borrowing limit is longer than 24 hours.
-
The borrowing amount reaches 200% of the maximum borrowing limit.
-
- <p style="margin-top: 0pt;text-align: justify;backgro