Bybit launches USDT‑margined equity perpetuals for PATH, CYPH and HUT

Bybit expanded its TradFi perpetuals product by introducing three USDT‑margined perpetual futures that track the equity prices of UiPath (PATH), Cypherpunk Technologies (CYPH) and Hut 8 (HUT). The contracts provide leverage of up to 25x and are settled through the exchange’s derivatives infrastructure.

Synthetic equity derivatives

These contracts are synthetic derivatives that mirror the price movements of the referenced stocks via index and oracle feeds. They do not represent ownership of the underlying shares, confer voting rights, or involve physical stock delivery.

Trading mechanics

Positions are margined in USDT and can be opened or closed 24/7, mirroring the continuous trading model of crypto perpetuals rather than the schedule of traditional stock markets.

Broader market implications

The addition of equity‑linked perpetuals reflects a trend among major crypto exchanges to offer multi‑asset derivatives, allowing traditional‑market speculation within a leveraged, always‑on environment.

Key considerations for traders

• Leverage up to 25x amplifies both potential gains and losses.
• Contracts are settled in USDT, not the underlying equity.
• No voting rights or share ownership are granted.
• Continuous trading exposes users to market movements outside regular stock exchange hours.