Bybit’s Unified Trading Account integrates Spot, USDT Perpetual, and Inverse Perpetual trading under a single system. Starting December 2nd, 2024, older versions of UTA accounts and Standard Accounts will begin to be phased out. By December 16th, 2024, all Bybit users will be migrated to the upgraded UTA structure.
Key Dates and Changes
December 2nd, 2024
Standard and Older UTA Accounts Limitations:
Older UTA and Standard Accounts will no longer support placing new Futures positions or increasing existing ones.
Automatic upgrades for accounts with no active trades will begin.
December 16th, 2024
Spot Trading Suspended for Standard Accounts:
Standard Accounts will no longer support Spot trading.
All pending Spot and Derivatives orders in Standard Accounts will be canceled.
Take-Profit/Stop-Loss orders in older UTA accounts and Standard Accounts will also be canceled.
Automatic Upgrades Continue:
Standard and older UTA accounts will be automatically upgraded to the new UTA structure.
Existing positions will remain unaffected and will be transferred to the new UTA system.
API Key Deactivation:
API keys for Standard and older UTA accounts will no longer work. Users must upgrade their accounts and create new API keys.
Brief Downtime for Upgrades:
Spot and Derivatives Accounts will experience brief interruptions (approximately 30 seconds for trading and two minutes for account upgrades) during daily upgrade processes from 2 AM to 10 AM UTC.
Expect brief interruptions caused by Bybit during their daily upgrade periods as your account is being processed. These downtimes are not related to 3Commas services.
What Users Need to Do
For Existing Bybit Users:
1. Upgrade Your Account:
Upgrade to the new UTA account type between December 2nd and December 16th, 2024.
Follow Bybit’s upgrade instructions here.
2. Update Your API Keys:
Once your account is upgraded, update your Bybit exchange connection in 3Commas:
Use Fast Connect or
Manually generate a new API key and secret.
Follow our Help Article for detailed instructions.
Important Note
If you update your API key for Spot and USDT Perpetual accounts manually, the Inverse Perpetual account will NOT be automatically connected. However:
You can create a new connection using the same API key to add Inverse Perpetual trading.
If you update via Fast Connect, the Inverse Perpetual account will automatically be created and connected.
Prepare for Downtime: Expect a brief interruption from Bybit during their daily upgrade periods as your account is being processed.
For New Bybit Users:
All newly created Bybit accounts will automatically use the new UTA structure, with Cross margin set as the default margin mode.
FAQ
1. "I didn’t see the notification/announcement from Bybit!"
Bybit has shared details about the changes in an official announcement. You can find the announcement here.
2. "How can I check which Bybit account type I have enabled?"
You can verify your account type by logging into Bybit and visiting your account settings here.
3. "What happens to my existing positions during the upgrade?"
Existing positions will remain unaffected and will be automatically transferred to the new UTA system.
4. "Will I need to reconnect my Bybit account in 3Commas after upgrading?"
Yes, you will need to update your API connection in 3Commas once your account is upgraded.
5. "What if I update my API key for Spot and USDT accounts? Will Inverse Perpetual accounts be connected automatically?"
If you update manually, Inverse Perpetual accounts will NOT be connected automatically.
You can create a new connection using the same updated API key to add Inverse Perpetual.
If you use Fast Connect, the Inverse Perpetual account will be connected automatically.
Integration with 3Commas
3Commas supports the upgraded Bybit UTA system, including Spot, USDT Perpetual, and Inverse Perpetual trading. However, users should note the following:
Balances Display: Account balances display correctly, but collateral assets in other currencies only fail to appear in trading forms for Inverse Perpetual accounts using Cross margin. For instance, if a user with Cross margin wants to open a position on BTCUSD using BTC but their collateral assets are held in another currency (e.g., USDT), 3Commas will display an error indicating insufficient funds to open the position.
Margin Mode Switching: Users can only switch between Cross and Isolated Margin modes directly on the Bybit exchange. This cannot be done within 3Commas.
API Requirements: After upgrading, you must generate new API keys with UTA permissions and reconnect your Bybit account in 3Commas.
Stay Updated
For further assistance or updates, refer to the 3Commas Help Center or Bybit’s official announcements.