What is Bybit Double-Win? 

Double-Win is a short-term structured product designed to capitalize on significant market movements. Users can benefit as long as the settlement price falls outside the Double-Win range in both directions from the current price. However, if the settlement price falls within the Double-Win range, the investment amount will be lost.

 

To learn more about Bybit Double-Win, please refer to Introduction to Double-Win.

Who is suitable for using Double-Win?

Double-Win is ideal for users who:

• Anticipate Market Movements: You foresee significant market movements but are uncertain about the direction.
• Volatility Hedging: You want to hedge volatility risks within a specific price range, complementing other strategies like the Spot Grid Bot.
• Market Volatility Speculation: You simply want to speculate on market volatility.

When should one consider using Double-Win?

Optimal Usage Scenarios:

• Ahead of Critical Reports: Utilize Double-Win before major reports or releases (e.g., Consumer Price Index [CPI] or Loan Prime Rate [LPR]) ) that may impact the market.
• During Significant Events: Capitalize on headline events such as Ethereum upgrades or industry legal decisions by employing Double-Win.
• Risk Management: Leverage Double-Win as a tool for managing risks against market volatility.

How can I calculate my P&L with Bybit Double-Win?

Your P&L (Profit and Loss) can be determined using the following formula:

 

 

Example

 

Suppose User A purchases a Double-Win plan with the following parameters:

• Investment Amount: 100 USDT
• Entry Price: 27,050 USDT
• Est. Leverage: 3.03x
• Double-Win Range: +/- 200 USDT
• Expiration Date: Sep 30, 2023, 8AM UTC

 

 

Calculation

Given the Double-Win Range of +/- 200 USDT, the Lower Range Price is 26,850 USDT and the Upper Range Price is 27,250 USDT.

 

Now, let's consider three (3) scenarios at the expiration date:

 

Winning Scenarios

1. Settlement Price: 27,500 USDT

In this scenario, the calculated Payoff would be approximately 102.80 USDT based on the following calculations:

Payoff=100+3.03×100×(27,500−27,250)/ 27,050 

 

2. Settlement Price: 26,500 USDT

In this case, the calculated Payoff would be approximately 103.92 USDT based on the following calculations:

Payoff=100+3.03×100×(26,850−26,500) / 27,050 

Losing Scenario

​3. Settlement Price: 27,000 USDT

In this case, the Settlement Price falls within the range of 26,850 USDT and 27,250 USDT, resulting in a Payoff of 0 USDT.

How is the leverage determined?

There are a few factors that will affect the leverage:

1. The amount of time left till settlement

2. The current volatility of the underlying asset

3. The width of the Double-Win range

Is leverage fixed after my order is placed?

Yes, the leverage for your Double-Win order is set upon placement, and your payoff will be calculated based on this fixed leverage.

How is the Settlement Price determined?

The Settlement Price is determined by calculating the average price of the Derivatives Index Price every second during the 30 minutes leading up to expiration.

When will my Double-Win plan take effect?

Your plan will be immediately created once you submit your order. Please refer to the order time (UTC) on the order page.

 

If I make a profit, when will I receive my payoff?

Profits will be credited to your Funding Account 15 minutes after your Double-Win plan is settled. For example, the settlement time is T+1 8 AM UTC, and you will receive the payoff plus the initial investment amount on T+1 8:15 AM UTC. For precise details, please refer to the information available on the order page.

 

What are the key differences between Double-Win and a Strangle Option strategy?

The key difference is the Payout Structure:

• Double-Win has an all-or-nothing payout structure, where profits are realized only if the settlement price moves beyond the preset range.
• The Strangle strategy offers more flexibility, with potential profits if the market price moves significantly beyond the strike prices.

What is the source of profit from Bybit Double-Win?

Your invested funds are actively managed by professional third-party investment institutions, engaging in strategic trading like Options and Perpetual contract trading within the Bybit platform. This structured approach not only hedges risks effectively but also aims to generate potential profits for our users.

Which coins does Double-Win support?

Currently, Double-Win supports BTC and ETH. Stay tuned for the addition of more coins.

Is Identity Verification required for Bybit Double-Win?

Yes, individual users are required to complete Identity Verification Lv. 1 to purchase Bybit Double-Win plans. To initiate your Identity Verification, please click here.

 

Do note that users with Business Identity Verification are also able to purchase this product.

Are there any fees associated with Bybit Double-Win?

There are no fees associated with Bybit Double-Win.

Are there any investment amount limits?

Yes, there are investment amount limits for Bybit Double-Win:

 

Minimum Limit: 10 USDT per user per trade.

Maximum Limit: Up to 500 USDT per user per trade.

 

For detailed information, you can refer to the amount limit in the order zone. Do note that there is no maximum limit for the total investment amount per user.

 

Can I cancel or redeem my investment early once it's made?

​​You cannot cancel your order, but early redemption is supported. Redemption is immediate but it will be not supported within one hour before the settlement time. To make an early redemption, visit your Double-Win holdings page. For more information, please visit here. 

 

Please be aware that you may not be able to get back the full invested amount upon early redemption. You can refer to the estimated redemption value that is calculated based on the current market condition shown on your redemption confirmation window. The actual redemption amount can have a slight difference from the value shown. 

 

What does 90% Slippage Protection mean on my Double-Win redemption confirmation window?

 

 

The 90% Slippage Protection on your Double-Win redemption confirmation window means that if the actual redemption amount is less than 90% of the estimated value, the redemption will fail. Your Double-Win plan, however, will remain unaffected and valid. This setting is enabled by default.

Can I purchase Bybit Double-Win products using Subaccounts? 

Yes, you are able to purchase Double-Win products using Subaccounts.