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    Comparison Between a Unified Trading Account and Standard Account
    bybit2024-09-10 12:36:21

    Starting from September 2023, Bybit will transition new and existing users to the Unified Trading Account (UTA). This shift simplifies asset management by enabling multi-asset, cross-product collateralization through a single account. 

     

    This article will explore the differences between the Standard Account and UTA. We recommend traders to try UTA under Demo Trading for a hands-on understanding.

     

     

     

     

    1. Overall Differences

     

     

    Standard Account

    Unified Trading Account

    Single Vs Multi Asset Margin

    Traders must hold the specific asset related to the trading product in each account to participate. For instance, USDT is required in the Derivatives Account to trade the USDT contracts.

    Traders can use a variety of supported margin assets as collateral, eliminating the need for the exact settlement asset. For example, holding BTC in a UTA allows the trader to place a USDT Contracts order by using the BTC's equivalent USDT value as collateral.

    Accounts to Manage

    1. Funding Account

    2. Spot Account

    3. Derivatives Account

    1. Funding Account

    2. Unified Trading Account

    Unrealized PnL Offset across Products

    Not Supported

    Unrealized profits from one derivatives product can be used to offset losses in another (except in Isolated Margin mode). For more details, visit here.

     

    To learn more details of the benefits of Unified Trading Account, please refer to Key Benefits of Upgrading to Bybit’s Unified Trading Account.

     

     

     

     

     

    2. Types of Trading Products

     

    Trading Product Types

    Standard Account

    Unified Trading Account

    Spot

    Supported

    Supported

    Spot Margin

    Not Supported

    Supported 

    (Not in Isolated Margin Mode)

    USDT Perpetual

    Supported

    Supported

    USDC Perpetual & Futures

    Supported

    Supported

    USDC Options

    Not Supported

    Supported 

    (Not in Isolated Margin Mode)

    Inverse Perpetual & Futures

    Supported

    Supported

     

     

     

     

     

    3. Assets as Collateral Required

     

    Standard Account

    Unified Trading Account

    USDT Perpetual

    USDT

    Any supported margin asset within UTA can be used as collateral for trading. 

    USDC Perpetual & Futures

    USDC

    USDC Options 

    USDC

    Inverse Perpetual & Futures

    The respective settlement assets

     

    For more information, please refer to Collateral and Borrowable Assets (Unified Trading Account).

     

     

     

     

     

    4. Position and Margin Mode

     

     

    Standard Account

    Unified Trading Account

    Margin Mode

    1. Isolated Margin

    2. Cross Margin

    1. Isolated Margin

    2. Cross Margin

    3. Portfolio Margin

    Position Mode

    1. One-way Mode 

    2. Hedge Mode

    • Support different leverage settings for long and short positions. 

    • Only available for USDT  Contracts.

    1. One-way Mode 

    2. Hedge Mode 

    • Both long and short positions have to use the same leverage settings. 

    • Only available for USDT  Contracts.

     

    In Unified Trading Account, margin mode switching can be supported even when there are open positions or active orders, subject to the criteria stated in Differences Between the Margin Modes Under the Unified Trading Account.

     

     

     

     

     

    5. Borrowing and Interest

     

     

    Standard Account

    Unified Trading Account

    Spot Margin Trading

    Not supported

    Borrow supported. Interest on borrowed amounts. Learn more.

    USDT Contracts

    USDC Contracts

    Inverse Contracts

     

     

     

     

     

    6. Risk Management

     

     

    Standard Account

    Unified Trading Account

    Liquidation

    Liquidation triggers when the Mark Price reaches the Liquidation Price. The liquidation price is calculated based on parameters such as initial margin rate, maintenance margin rate, and available balance. 

    According to different margin modes, liquidation is based on different criteria. 

     

    Isolated Margin Mode: Similarly to Standard Account, liquidation triggers when the Mark Price reaches the Liquidation Price. 

     

    Cross or Portfolio Margin Mode: According to the initial margin and maintenance margin of the position, calculate the account's initial margin rate and maintenance margin rate. When the account's maintenance margin rate reaches 100%, liquidation is triggered. 

     

     

    To learn more about the liquidation process, please refer to the following articles: 

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