Bybit Expands Margin Trading and Lending Support for Six New Crypto Assets

The listing extends the exchange's cross-collateral stack with assets that have not previously traded on its derivative venues.

The new pairs are ENSOUSDT, OPNUSDT, ROBOUSDT, BICOUSDT, ZKPUSDT, and AVAUSDT. Each underlying token — ENSO, OPN, ROBO, BICO, ZKP, AVA — simultaneously serves as collateral for Crypto Loans, UTA Borrowing, and Institutional Loans, and as the borrowing asset for Crypto Loans and UTA Borrowing. Maximum leverage on the UTA pairs caps at 10x.

Pair Mechanics and Capital Structure

• UTA cross-margin mode. Positions draw from the unified balance. P&L offsets across the entire UTA portfolio, not an isolated sub-account.
• 10x leverage ceiling. Liquidation thresholds follow Bybit's standard UTA tier tables. The announcement states Collateral Value Ratios and related parameters will publish on the asset page after listing.
• Dual-sided credit utility. All six tokens function as both collateral and borrowing asset. A trader can deposit ZKP as collateral, borrow USDT, and redeploy into a separate margin pair within the same UTA.
• Flexible Easy Earn. The same assets feed the hourly-yield product, adding a parallel yield channel outside the margin book.

What to Verify Before Execution

New venue listings carry limited prior liquidity history. Standard pre-trade checks apply.

• Tick data continuity. Confirm historical order-book snapshots predate the listing timestamp. Backtests on assets with sub-72-hour venue history contain elevated look-ahead bias.
• Index composition. Determine whether the mark price uses a CEX-aggregated index. Single-source indices during early hours create oracle-risk exposure.
• Borrow rate curve. CVR values drive the borrow-side haircut. The announcement does not disclose specific ratios — wait for the asset page before sizing.
• Slippage tolerance. New pairs typically print thin books in the first 24–48 hours. Set execution algorithms to bound market-impact deviation.

Risk Parameters

Unknown CVR values dominate the launch risk profile. A 10x long on a low-CV collateral token can liquidate on a 10% adverse move before any discretionary exit fires. Geopolitical trade frictions — see the recent multilateral sanctions framework extending through China, Taiwan, Iran, and France — add macro overlay volatility that propagates into altcoin perp books through funding-rate inversion. Monitor funding rate every 8 hours. Persistent negative funding on a newly listed pair signals crowded short bias and elevated squeeze probability.