👀 This article applies only to users who trade Futures on Bybit exchange!
ℹ️ If you missed the announcement from Bybit, please refer to their Help Article for more information.
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.