Bybit

Founded in 2018, Bybit is one of the largest cryptocurrency exchanges in terms of daily trading volume and open interest of crypto assets and crypto derivative products. This integration supports live market data ingest and order execution with Bybit.

Examples

You can find live example scripts here.

Overview

This guide assumes a trader is setting up for both live market data feeds, and trade execution. The Bybit adapter includes multiple components, which can be used together or separately depending on the use case.

• BybitHttpClient: Low-level HTTP API connectivity.
• BybitWebSocketClient: Low-level WebSocket API connectivity.
• BybitInstrumentProvider: Instrument parsing and loading functionality.
• BybitDataClient: A market data feed manager.
• BybitExecutionClient: An account management and trade execution gateway.
• BybitLiveDataClientFactory: Factory for Bybit data clients (used by the trading node builder).
• BybitLiveExecClientFactory: Factory for Bybit execution clients (used by the trading node builder).

:::note Most users will define a configuration for a live trading node (as below), and won't need to necessarily work with these lower level components directly. :::

Bybit documentation

Bybit provides extensive documentation for users which can be found in the Bybit help center. It’s recommended you also refer to the Bybit documentation in conjunction with this NautilusTrader integration guide.

Products

A product is an umbrella term for a group of related instrument types.

:::note Product is also referred to as category in the Bybit v5 API. :::

The following product types are supported on Bybit:

Symbology

To distinguish between different product types on Bybit, Nautilus uses specific product category suffixes for symbols:

• -SPOT: Spot cryptocurrencies
• -LINEAR: Perpetual and futures contracts
• -INVERSE: Inverse perpetual and inverse futures contracts
• -OPTION: Option contracts

These suffixes must be appended to the Bybit raw symbol string to identify the specific product type for the instrument ID. For example:

• The Ether/Tether spot currency pair is identified with -SPOT, such as ETHUSDT-SPOT.
• The BTCUSDT perpetual futures contract is identified with -LINEAR, such as BTCUSDT-LINEAR.
• The BTCUSD inverse perpetual futures contract is identified with -INVERSE, such as BTCUSD-INVERSE.
• A BTC USDT-settled put option: BTC-27MAR26-70000-P-USDT-OPTION.
• A ETH USDC-settled call option: ETH-28FEB25-2800-C-OPTION.

Bybit's option symbols include the settlement currency for USDT-settled contracts (e.g. BTC-27MAR26-70000-P-USDT) but omit it for USDC-settled contracts (e.g. ETH-28FEB25-2800-C). The adapter appends -OPTION to whatever symbol the API returns.

Environments

Bybit provides three trading environments. Configure the appropriate environment with the environment enum on your client configuration.

Mainnet (Production)

The default environment for live trading with real funds.

from nautilus_trader.adapters.bybit import BybitEnvironment

config = BybitExecClientConfig(
    api_key="YOUR_API_KEY",
    api_secret="YOUR_API_SECRET",
    environment=BybitEnvironment.MAINNET,
)

Environment variables: BYBIT_API_KEY, BYBIT_API_SECRET

Demo trading

Demo trading uses Bybit's mainnet infrastructure with simulated funds. Create demo API keys from the Bybit demo trading page.

from nautilus_trader.adapters.bybit import BybitEnvironment

config = BybitExecClientConfig(
    api_key="YOUR_DEMO_API_KEY",
    api_secret="YOUR_DEMO_API_SECRET",
    environment=BybitEnvironment.DEMO,
)

Environment variables: BYBIT_DEMO_API_KEY, BYBIT_DEMO_API_SECRET

:::warning Demo environment limitations:

• The WebSocket Trade API is not supported for demo trading. NautilusTrader automatically uses the HTTP REST API for order operations in demo mode.
• Some advanced order features available via WebSocket (trigger orders, post-only with is_quote_quantity) are not available in demo mode.
• Demo private streams use wss://stream-demo.bybit.com, but public market data uses Bybit's mainnet public stream wss://stream.bybit.com.

:::

Testnet

A separate test network for development and integration testing.

from nautilus_trader.adapters.bybit import BybitEnvironment

config = BybitExecClientConfig(
    api_key="YOUR_TESTNET_API_KEY",
    api_secret="YOUR_TESTNET_API_SECRET",
    environment=BybitEnvironment.TESTNET,
)

Environment variables: BYBIT_TESTNET_API_KEY, BYBIT_TESTNET_API_SECRET

:::note Testnet supports all trading features including the WebSocket Trade API. It uses completely separate infrastructure from mainnet, so market data and liquidity differ significantly from production. :::

When environment=BybitEnvironment.TESTNET, the adapter resolves Bybit's documented testnet endpoints automatically:

• REST API: https://api-testnet.bybit.com
• Public WebSocket: wss://stream-testnet.bybit.com/v5/public/{spot|linear|inverse|option}
• Private WebSocket: wss://stream-testnet.bybit.com/v5/private
• Trade WebSocket: wss://stream-testnet.bybit.com/v5/trade

Testnet setup

To set up a Bybit testnet account and credentials:

1. Open testnet.bybit.com in a desktop browser.

2. Create a separate testnet account or sign in to your existing testnet account.

3. Request test coins from Assets -> Assets Overview -> Request Test Coins so the account has balances for testing.

4. Open API Management at testnet.bybit.com/app/user/api-management.

5. Click Create New Key.

6. Select the required permissions for your use case.

7. Complete the 2FA prompt and copy the API key and secret.

8. Export the credentials in your shell:

   bashCopy

   export BYBIT_TESTNET_API_KEY="YOUR_TESTNET_API_KEY"
   export BYBIT_TESTNET_API_SECRET="YOUR_TESTNET_API_SECRET"
   

Bybit's current testnet guidance also notes:

• API keys are created on the website, not in the mobile app.
• New users may be unable to create API keys for the first 48 hours after registration.
• Testnet is separate from mainnet. Do not deposit real funds into a testnet account.
• Bybit currently documents testnet account setup through a desktop browser.

Orders capability

Bybit offers a flexible combination of trigger types, enabling a broader range of Nautilus orders. All the order types listed below can be used as either entries or exits, except for trailing stops (which use a position-related API).

Order types

Execution instructions

Time in force

Advanced order features

Batch operations

Position management

Hedge mode (BothSides)

Bybit only accepts BOTH_SIDES on USDT linear perpetuals. For other product types configure MERGED_SINGLE or omit them from position_mode. Configure per symbol:

from nautilus_trader.adapters.bybit import BybitPositionMode

config = BybitExecClientConfig(
    ...,
    position_mode={"ETHUSDT-LINEAR": BybitPositionMode.BOTH_SIDES},
)

On connect the adapter calls /v5/position/switch-mode for each entry, then derives positionIdx for every order: opening BUY -> 1 (long), opening SELL -> 2 (short), reduce-only SELL -> 1, reduce-only BUY -> 2.

To override, pass position_idx via params:

params={"position_idx": 1}  # 0 one-way, 1 long, 2 short

Risk events

Bybit emits venue-initiated fills with execType set to:

• AdlTrade: Auto-deleveraging execution. An opposing profitable position was selected to close the undercollateralised counterparty after the insurance fund could not cover the loss.
• BustTrade: Liquidation takeover. The liquidation engine seized the position after margin was exhausted.
• Delivery: USDC futures delivery.
• Settle: Inverse futures settlement.

The adapter flags each as exchange-generated and logs a warning containing the execution ID, symbol, side, quantity, and price. Fills flow through the normal FillReport path; because these orders carry an empty orderLinkId, the execution engine treats them as external and assigns them via external_order_claims (or the EXTERNAL strategy by default).

Bybit also publishes an ADL ranking on position updates via the adlRankIndicator field. The range is 0 (flat / no position) to 5 (next to deleverage). The adapter logs a warning whenever an open position carries a rank of 4 or higher so you can react before the venue force-closes.

Upstream references:

• V5 execType values
• V5 createType values
• Liquidation mechanism
• Auto-Deleveraging mechanism

Order querying

Contingent orders

Order parameters

Individual orders can be customized using the params dictionary when submitting orders:

:::note Native TP/SL params are not supported in demo mode. The is_leverage param applies to Spot products only. See Bybit's isLeverage documentation. :::

Example: Order with native TP/SL

order = strategy.order_factory.limit(
    instrument_id=InstrumentId.from_str("BTCUSDT-LINEAR.BYBIT"),
    order_side=OrderSide.BUY,
    quantity=Quantity.from_str("0.01"),
    price=Price.from_str("60000.0"),
    params={
        "take_profit": "65000.0",
        "stop_loss": "58000.0",
        "tp_trigger_by": "LastPrice",
        "sl_trigger_by": "LastPrice",
    },
)
strategy.submit_order(order)

Example: Spot margin trading

# Submit a Spot order with margin enabled
order = strategy.order_factory.market(
    instrument_id=InstrumentId.from_str("BTCUSDT-SPOT.BYBIT"),
    order_side=OrderSide.BUY,
    quantity=Quantity.from_str("0.1"),
    params={"is_leverage": True}  # Enable margin for this order
)
strategy.submit_order(order)

:::note Without is_leverage=True in the params, Spot orders use your available balance and do not borrow funds, even if you have auto-borrow enabled on your Bybit account. :::

For a complete example of using order parameters including is_leverage, see the bybit_exec_tester.py example.

Spot margin borrowing and repayment

NautilusTrader provides automated spot margin borrow repayment functionality to prevent interest accrual after closing short positions on Bybit.

Background

When trading Spot with margin enabled (is_leverage=True), Bybit automatically borrows coins when you execute short positions. However, after you close the short position (BUY order fills), the borrowed coins are NOT automatically repaid - they continue accruing hourly interest charges until manually repaid. This can result in significant interest costs if left unattended.

Automatic repayment (recommended)

NautilusTrader automatically repays spot margin borrows immediately after BUY orders fill on Spot instruments. This feature is enabled by default via the auto_repay_spot_borrows configuration flag.

How it works:

1. When a Spot BUY order fills, the execution client automatically attempts to repay any outstanding borrows for that coin.
2. The repayment uses Bybit's no-convert-repay endpoint, which repays the full outstanding borrow amount.
3. If the repayment fails (e.g., API error), it logs the error but does not crash the execution client.
4. Repayments are automatically skipped during Bybit's UTC blackout window (see below).

Example:

from nautilus_trader.adapters.bybit import BybitExecClientConfig

config = BybitExecClientConfig(
    api_key="YOUR_API_KEY",
    api_secret="YOUR_API_SECRET",
    product_types=[BybitProductType.SPOT],
    auto_repay_spot_borrows=True,  # Default is True
)

Manual margin operations

Strategies can control margin borrowing and repayment directly via query_account with the BybitMarginAction enum:

Borrow

self.query_account(
    account_id=self.account_id,
    params={"action": BybitMarginAction.BORROW, "coin": "USDT", "amount": 1000},
)

Repay

# Repay specific amount
self.query_account(
    account_id=self.account_id,
    params={"action": BybitMarginAction.REPAY, "coin": "USDT", "amount": 500},
)

# Repay all (omit amount)
self.query_account(
    account_id=self.account_id,
    params={"action": BybitMarginAction.REPAY, "coin": "USDT"},
)

Query borrow amount

self.query_account(
    account_id=self.account_id,
    params={"action": BybitMarginAction.GET_BORROW_AMOUNT, "coin": "USDT"},
)

:::note The account_id can be obtained from self.portfolio.account(BYBIT_VENUE).id or stored during strategy initialization via the config. :::

Receiving results

Results are published as custom data on the message bus. Subscribe in your strategy to receive them:

from nautilus_trader.adapters.bybit import BybitMarginAction
from nautilus_trader.adapters.bybit import BybitMarginBorrowResult
from nautilus_trader.adapters.bybit import BybitMarginRepayResult
from nautilus_trader.adapters.bybit import BybitMarginStatusResult
from nautilus_trader.model.data import DataType


class MyStrategy(Strategy):
    def on_start(self):
        self.subscribe_data(DataType(BybitMarginBorrowResult))
        self.subscribe_data(DataType(BybitMarginRepayResult))
        self.subscribe_data(DataType(BybitMarginStatusResult))

    def on_data(self, data):
        if isinstance(data, BybitMarginBorrowResult):
            if data.success:
                self.log.info(f"Borrowed {data.amount} {data.coin}")
            else:
                self.log.error(f"Borrow failed: {data.message}")
        elif isinstance(data, BybitMarginRepayResult):
            if data.success:
                self.log.info(f"Repaid {data.amount or 'all'} {data.coin}")
            else:
                self.log.error(f"Repay failed: {data.message}")
        elif isinstance(data, BybitMarginStatusResult):
            self.log.info(f"Borrow amount for {data.coin}: {data.borrow_amount}")

UTC blackout window

Bybit blocks no-convert-repay operations daily during 04:00-05:30 UTC for interest calculation processing. NautilusTrader automatically detects this window and skips repayment attempts, logging a warning instead.

During the blackout window, any BUY order fills will trigger a warning like:

Skipping borrow repayment for BTC due to Bybit blackout window (04:00-05:30 UTC daily). Will need manual repayment.

Important: If your BUY orders fill during the blackout window, you'll need to manually repay the borrows after 05:30 UTC to stop interest accrual, or wait for the next BUY order fill outside the blackout window.

Configuration options

Important notes

• Auto-repayment only triggers on Spot BUY orders, not derivatives.
• Repayment uses the no-convert-repay endpoint which repays the full outstanding borrow by default.
• The feature gracefully handles API errors and logs failures without crashing.
• Manual borrowing is still required before opening short positions unless auto-borrow is enabled on your Bybit account.

Spot trading limitations

The following limitations apply to Spot products, as positions are not tracked on the venue side:

• reduce_only orders are not supported.
• Trailing stop orders are not supported.

Options trading

Bybit lists European-style options on BTC and ETH, settled in USDT or USDC. The adapter uses the CryptoOption instrument type and the -OPTION symbol suffix. See the symbology section for the full symbol format.

Options data

The adapter supports real-time options market data through the WebSocket ticker channel:

Subscribe to per-instrument Greeks or aggregate them into option chain snapshots with ATM-relative strike filtering. See the options concept guide for subscription patterns and the options data tutorial for a step-by-step walkthrough. NautilusTrader builds the option chain view locally from Bybit's per-contract option market data.

Bar (kline) data is not available for options. Bybit does not provide kline streams for this product type.

Options order parameters

In addition to the standard order parameters, option orders accept:

These parameters are passed through params on SubmitOrder and flow through the WebSocket trade channel on mainnet. They are not supported in demo mode.

Options trading limitations

• IV-based option orders and WS-trade-only features are not supported in demo mode.
• Leverage is not configurable. Option buyers pay premium; sellers post margin.
• Position mode is one-way only. Hedge mode is not supported.
• Conditional order types (STOP_MARKET, STOP_LIMIT, MARKET_IF_TOUCHED, LIMIT_IF_TOUCHED) are not supported.
• Trading stops (TP/SL on positions) are not supported.
• Funding rates do not apply to options.
• Options require a Unified Trading Account (UTA).

Trailing stops

Trailing stops on Bybit do not have a client order ID on the venue side (though there is a venue_order_id). This is because trailing stops are associated with a netted position for an instrument. Consider the following points when using trailing stops on Bybit:

• reduce_only instruction is available
• When the position associated with a trailing stop is closed, the trailing stop is automatically "deactivated" (closed) on the venue side.
• You cannot query trailing stop orders that are not already open (the venue_order_id is unknown until then).
• You can manually adjust the trigger price in the GUI, which will update the Nautilus order.

Funding rates

The adapter receives funding rate data from the Linear Ticker WebSocket stream. Bybit provides the fundingIntervalHour field in ticker updates, which the adapter uses to populate the interval field on FundingRateUpdate.

The adapter caches the last known fundingIntervalHour per symbol so that partial ticker updates (which may omit the field) still carry the correct interval.

For historical funding rate requests, the adapter computes the interval from consecutive funding timestamps.

Rate limiting

Every HTTP call consumes the global token bucket as well as any keyed quota(s). When usage exceeds a bucket, requests are queued automatically, so manual throttling is rarely required.

:::warning Bybit responds with error code 10016 when the rate limit is exceeded and may temporarily block the IP if requests continue without back-off. :::

:::info For more details on rate limiting, see the official documentation: https://bybit-exchange.github.io/docs/v5/rate-limit. :::

Data clients

If no product types are specified then all product types will be loaded and available.

Execution clients

The adapter automatically determines the account type based on configured product types:

• Spot only: Uses CASH account type with borrowing support enabled
• Derivatives or mixed products: Uses MARGIN account type (UTA - Unified Trading Account)

This allows you to trade Spot alongside derivatives in a single Unified Trading Account, which is the standard account type for most Bybit users.

:::info Unified Trading Accounts (UTA) and Spot margin trading

Most Bybit users now have Unified Trading Accounts (UTA) as Bybit steers new users to this account type. Classic accounts are considered legacy.

For Spot margin trading on UTA accounts:

• Borrowing is NOT automatically enabled - it requires explicit API configuration
• To use Spot margin via API, you must submit orders with is_leverage=True in the parameters (see Bybit docs)
• If auto-borrow/auto-repay is enabled on your Bybit account, the venue will automatically borrow/repay funds for those margin orders
• Without auto-borrow enabled, you'll need to manually manage borrowing through Bybit's interface

Important: The Nautilus Bybit adapter defaults to is_leverage=False for Spot orders, meaning they won't use margin unless you explicitly enable it. :::

Fee currency logic

Understanding how Bybit determines the currency for trading fees is important for accurate accounting and position tracking. The fee currency rules vary between Spot and derivatives products.

Spot trading fees

For Spot trading, the fee currency depends on the order side and whether the fee is a rebate (negative fee for maker orders):

Normal fees (positive)

• BUY orders: Fee is charged in the base currency (e.g., BTC for BTCUSDT)
• SELL orders: Fee is charged in the quote currency (e.g., USDT for BTCUSDT)

Maker rebates (negative fees)

When maker fees are negative (rebates), the currency logic is inverted:

• BUY orders with maker rebate: Rebate is paid in the quote currency (e.g., USDT for BTCUSDT)
• SELL orders with maker rebate: Rebate is paid in the base currency (e.g., BTC for BTCUSDT)

:::note Taker orders never have inverted logic, even if the maker fee rate is negative. Taker fees always follow the normal fee currency rules. :::

Example: BTCUSDT Spot

• Buy 1 BTC as taker (0.1% fee): Pay 0.001 BTC in fees
• Sell 1 BTC as taker (0.1% fee): Pay equivalent USDT in fees
• Buy 1 BTC as maker (-0.01% rebate): Receive USDT rebate (inverted)
• Sell 1 BTC as maker (-0.01% rebate): Receive BTC rebate (inverted)

Derivatives trading fees

For all derivatives products (LINEAR, INVERSE, OPTION), fees are always charged in the settlement currency:

Fee calculation

When the WebSocket execution message doesn't provide the exact fee amount (execFee), the adapter calculates fees as follows:

Spot products

• BUY orders: fee = base_quantity × fee_rate
• SELL orders: fee = notional_value × fee_rate (where notional_value = quantity × price)

Derivatives

• All derivatives: fee = notional_value × fee_rate

Official documentation

For complete details on Bybit's fee structure and currency rules, refer to:

• Bybit WebSocket Private Execution
• Bybit Spot Fee Currency Instruction

Configuration

The product types for each client must be specified in the configurations.

Data client configuration options

Execution client configuration options

The most common use case is to configure a live TradingNode to include Bybit data and execution clients. To achieve this, add a BYBIT section to your client configuration(s):

from nautilus_trader.adapters.bybit import BYBIT
from nautilus_trader.adapters.bybit import BybitEnvironment
from nautilus_trader.adapters.bybit import BybitProductType
from nautilus_trader.live.node import TradingNode
from nautilus_trader.live.node import TradingNodeConfig

config = TradingNodeConfig(
    ...,  # Omitted
    data_clients={
        BYBIT: {
            "api_key": "YOUR_BYBIT_API_KEY",
            "api_secret": "YOUR_BYBIT_API_SECRET",
            "base_url_http": None,  # Override with custom endpoint
            "environment": BybitEnvironment.MAINNET,
            "product_types": [BybitProductType.LINEAR],
        },
    },
    exec_clients={
        BYBIT: {
            "api_key": "YOUR_BYBIT_API_KEY",
            "api_secret": "YOUR_BYBIT_API_SECRET",
            "base_url_http": None,  # Override with custom endpoint
            "environment": BybitEnvironment.MAINNET,
            "product_types": [BybitProductType.LINEAR],
        },
    },
)

Then, create a TradingNode and add the client factories:

from nautilus_trader.adapters.bybit import BYBIT
from nautilus_trader.adapters.bybit import BybitLiveDataClientFactory
from nautilus_trader.adapters.bybit import BybitLiveExecClientFactory
from nautilus_trader.live.node import TradingNode

# Instantiate the live trading node with a configuration
node = TradingNode(config=config)

# Register the client factories with the node
node.add_data_client_factory(BYBIT, BybitLiveDataClientFactory)
node.add_exec_client_factory(BYBIT, BybitLiveExecClientFactory)

# Finally build the node
node.build()

API credentials

There are two options for supplying your credentials to the Bybit clients. Either pass the corresponding api_key and api_secret values to the configuration objects, or set the following environment variables:

For Bybit live clients, you can set:

• BYBIT_API_KEY
• BYBIT_API_SECRET

For Bybit demo clients, you can set:

• BYBIT_DEMO_API_KEY
• BYBIT_DEMO_API_SECRET

For Bybit testnet clients, you can set:

• BYBIT_TESTNET_API_KEY
• BYBIT_TESTNET_API_SECRET

:::tip We recommend using environment variables to manage your credentials. :::

When starting the trading node, you'll receive immediate confirmation of whether your credentials are valid and have trading permissions.

Contributing

:::info For additional features or to contribute to the Bybit adapter, please see our contributing guide. :::