Bybit Fixed Rate Loan is a peer-to-peer (P2P) loan service that allows users to borrow or lend with fixed interest rates and terms. All loan orders are over-collateralized, requiring Borrowers to pledge collateral worth more than the value of the assets they borrow from the Suppliers.

 

As a Borrower, you can choose from a variety of supported tokens to use as collateral and customize your loan order to suit your needs.

 

If you prefer to lend crypto assets instead of borrowing, you can earn a fixed interest rate as a Supplier.

 

 

 

 

 

Advantages of Fixed Rate Loan

• Predictable Borrowing Costs: Lock in a fixed interest rate for a set duration, eliminating unexpected fluctuations and hidden fees.

• Attractive Fixed Supply APR: Supply your assets at a customizable, fixed APR for consistent, steady returns.

• Multi-Asset Collateral Options: Choose from a variety of assets to use as collateral, minimizing the risk of liquidation.

• Streamlined, Automated Process: Enjoy a seamless, hassle-free borrowing and lending experience with features like Auto-Repay and Auto-Renew (coming soon).

• Trusted Asset Management: Bybit directly manages both collateral and loaned assets to ensure security. Suppliers' assets are principal-protected in token amount throughout the process.

 

 

 

 

 

How Fixed Rate Loan Works

Order Placement

To Borrow

As a Borrower, you can either select an existing order from the Borrow Market or create a custom order by specifying your preferred interest rate, duration, and borrowing amount. Once you place a custom borrow order, the system will automatically match it with available supply orders.

 

Example

Suppose Bob places a borrow order for 100,000 USDT at an interest rate of 6%. If there are two supply orders available — Order A for 50,000 USDT at 5% and Order B for 50,000 USDT at 4% — the system will match Bob's borrow order with both. Despite the lower rates specified by the Suppliers, Bob will still pay the 6% rate he has selected, which allows the Suppliers to earn more interest than initially expected.

 

 

 

Auto-Repay

When placing a borrow order, you can choose to enable Auto-Repay. If enabled, the assets in your Funding Account will be automatically used to repay the loan when the borrow order expires, helping you avoid overdue penalties. Please ensure that your Funding Account has sufficient assets for full repayment; otherwise, the automatic repayment will fail. In the case of insufficient funds, the system will retry every minute until the repayment is successful or the grace period expires. 

 

 

 

 

To Supply

The supply process works similarly to the borrowing process. As a Supplier, you can either select an existing order from the Supply Market or create a custom order by setting your preferred interest rate, duration, and lending amount. Once you place a custom supply order, the system will automatically match it with available borrow orders.

 

Example

Suppose Alice places a supply order for 100,000 USDT at an interest rate of 5%. If there are two borrow orders available — Order A for 50,000 USDT at 6% and Order B for 50,000 USDT at 7% — the system will match Alice's supply order with both. The Borrowers will still pay their respective rates of 6% and 7%, while Alice earns a higher return than 5%, receiving the Borrowers' interest payments minus the platform management fees.

 

 

Notes:

— Bybit will charge 10% of the regular interest and 30% of any overdue interest paid by Borrowers as management fees, with the remaining amount distributed to Suppliers as earnings.

— Auto-Renew is not available at the moment, but it will be supported soon.

 

 

 

 

Order Matching

The system matches borrow and supply orders with similar interest rates and terms every minute. For example, if you place an order at 11:05:30AM and there are matching orders available, your order will be matched at 11:06AM.

 

 

 

 

Interest Accrual

The interest rate for a Fixed Rate Loan is locked in when the Borrower confirms the loan. Interest is charged upfront when the loan assets are transferred. Once a borrow order is matched, the borrowed assets — minus the estimated interest — will be credited to the Borrower's Funding Account. The Supplier will receive both the principal and interest at the end of the loan term or when the overdue period concludes. 

 

Interest is calculated as follows:

Borrowing Interest Charged = Borrowed Amount × Annualized Interest Rate × Duration / 365

Supplying Interest Earned = Supplied Amount × Annualized Interest Rate × Duration / 365 (Deducting Platform Management Fees)

 

 

Notes: 

— If the loan is overdue, a penalty of three times the interest will automatically apply, accruing hourly during the grace period following the expiry date. If the loan remains unpaid by the end of this period, the collateral will be automatically liquidated to cover the loan and overdue interest. A liquidation fee of 2% of the loan amount will also be charged.

— If the Borrower repays early, the prepaid interest will not be refunded. In this case, the Supplier's funds will still be returned on the settlement date.

 

 

 

 

Collateral

As a Borrower, you can choose eligible assets from your Funding Account to use as collateral. The collateral value will be calculated in USD based on a tiered collateral value ratio. For more details, please check here.

 

Example

If John uses 6,000,000 MYRO as collateral, and MYRO is priced at $0.06, the collateral value will be calculated as follows:

 

USD Value = 6,000,000 × $0.06 = $360,000

Collateral Value = $100,000 × 100% + ($200,000 - $100,000) × 75% + ($300,000 - $200,000) × 50% + ($360,000 - $300,000) × 0% = $225,000

 

 

Note: The example above is for illustrative purposes only. For details on supported collateral assets, please check here.

 

 

 

 

Liquidation

The Liquidation LTV is the threshold at which your collateral will be automatically liquidated to repay the loan and minimize risk. 

 

If the order reaches the Liquidation LTV, currently set at 92%, the liquidation process will be triggered immediately, and any pending loan orders will be canceled first. If the LTV drops to 92% or lower after cancellation, the liquidation will stop. Otherwise, forced repayment will be initiated, selling the collateral assets to repay the loan. 

 

In the case of forced repayment, a 2% liquidation fee of the loan amount will be charged and deducted from the collateral. Any remaining collateral after the liquidation will be returned to your Funding Account.

 

 

Note: The LTV is calculated based on Cross Margin mode, where collateral assets are used across all loan orders.

 

 

 

 

 

For more information on the Bybit Fixed Rate Loan, please refer to the following articles:

• FAQ — Fixed Rate Loan

• How to Get Started with Fixed Rate Loan