👀 This article applies only to users who trade Futures on Bybit exchange with UTA mode turned on!
ℹ️ If you missed the announcement from Bybit, please refer to their Help Article for more information.
Updates from September 23, 2024
Preliminary testing has been completed and our team found the following results.
If you are connecting Bybit for the first time:
If you have not upgraded to the UTA mode that supports Inverse Futures, then you will see the following Bybit exchange account types created on the “My Portfolio” page and be able to trade without issue:
Bybit Spot;
Bybit Futures USDT Perpetual;
Bybit Futures Inverse Perpetual.
If you do upgrade your Bybit UTA account type on the exchange (or have been “force-upgraded” by Bybit) and attempt to connect Bybit to 3Commas for the first time:
Bybit Spot will be connected, and trading is possible;
Bybit Futures USDT Perpetual account will be connected but show no balance and trading is not possible;
Bybit Futures Inverse account is not created and cannot be linked to 3Commas.
If you previously had Bybit connected before the 13th September:
If you have not upgraded to the UTA mode that supports Inverse Futures, then they will see the following Bybit exchange account types created on the “My Portfolio” page as normal and are able to trade without issue:
Bybit Spot;
Bybit Futures USDT Perpetual;
Bybit Futures Inverse Perpetual.
If you upgraded your Bybit UTA account (or have been “force-upgraded” by Bybit):
Bybit Spot trading is possible;
Bybit Futures USDT Perpetual account will show no balance and trading is not possible;
Bybit Futures Inverse Perpetual account will show no balance and trading is not possible.
At this time we still recommend that users do not upgrade to the new Bybit UTA account type.
Our team is hard at work to implement changes required to support and test the new Bybit UTA account types and we’ll publish a further update when the changes are released.
What’s happening?
Bybit recently released a new upgrade option for its exchange accounts on September 13th, 2024. If you are in a region where Bybit still permits Futures trading, you should have received a message regarding the introduction of Inverse Derivatives Trading to the Unified Trading Account (UTA).
What’s it about?
Bybit has released a significant upgrade to its Unified Trading Account (UTA), introducing Inverse Derivatives Trading. Bybit believes that this enhancement aims to streamline trade management and provide traders with essential tools to improve their trading experience. The new account type will allow users to manage financial risks more effectively by enabling them to hedge against potential adverse market movements, and automatically convert assets held in the trader’s Bybit account to use as collateral for Spot, Futures and Inverse Futures trading.
⚠️ Bybit has stated that they will automatically upgrade user accounts that have no funds, active orders, or positions in the Inverse Futures account between September 13th and 26th. We would recommend transferring a small amount of funds into the Inverse Futures account to avoid being automatically upgraded.
What do I need to do?
⚠️ At this time, 3Commas is unsure of the impact of this upgrade and the effect it may have for your trades and bots, and we strongly recommend that you DO NOT upgrade your Bybit account until further notice.
As the upgrade is released, 3Commas performs in-house testing to verify the compatibility of the new Bybit account functions, and we will update this article with further information, recommendations and/or actions.
ℹ️ You can also view the announcement posted on the 3Commas Status Page and subscribe for email notifications of service related events!
⚠️ If you choose to upgrade your Bybit account before 3Commas has completed testing then this is at your own risk.