Bybit, the third most visited cryptocurrency exchange, has teamed up with Paradigm, the biggest institutional liquidity network for crypto derivatives traders, to provide a special deal that significantly reduces the fees that both novice and experienced options traders must pay.
In an attempt to improve its products for institutional users, Bybit has partnered with Paradigm in the hopes of luring more professional options traders to its platform, according to the latest information shared with Finbold. Meanwhile, traders can make use of Paradigm’s knowledge in block trading and Bybit’s user-friendly platform.
The offer promotes convenience and low prices. To join in, all new users have to do is make one transaction, no matter how little. Options, perpetual contracts, and spot trading are all included in Bybit’s most competitive ‘Pro5’ fee rate until October 11.
If a trader uses Paradigm to transact options with a taker and reaches $10 million in taker volume before October 11, they will be eligible for a subsidized fee extension.
Exclusive promotion for institutional option traders
Ben Zhou, co-founder and CEO of Bybit, noted:
“We are excited to collaborate with Paradigm to introduce this exclusive promotion for institutional option traders. We remain committed to powering innovation and offering sophisticated trading tools for institutions. This collaboration further strengthens our position as a leading player in the crypto derivatives market.”
Co-founder and CEO of Paradigm added:
“Bybit and Paradigm share an unwavering commitment to serving our institutional customers over the long haul. Our collaboration is a testament to our dedication to simplifying the path for institutions venturing into the world of crypto. Together, we pave the way for a future where accessibility and innovation converge.”
Overall, options on Bitcoin and Ethereum on Bybit’s options market include expiration periods of one day, one week, one month, and one quarter. It offers superior functionality, top-tier infrastructure, and extensive liquidity on its trading platform.