2025-01-08 16:30:18Bybit Fixed Rate Loan is a peer-to-peer (P2P) loan service that allows users to borrow or lend (supply) with fixed interest rates and terms. Here's a step-by-step guide to help you get started.
Place a Borrow Order
Step 1: Click on Finance → Fixed Rate Loan in the navigation bar to access the Fixed Rate Loan page.
Step 2: Choose an existing order from the Borrow Market or create a new one by providing the following details:
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Borrow Amount: Enter the amount you wish to borrow.
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Interest Rate: Specify your expected interest rate.
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Duration: Choose a duration ranging from 7 to 180 days. Please refer to the page for available terms.
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Collateral: Select the supported collateral asset(s) available in your Funding Account.
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Auto-Repay: Enable this option to automatically use assets in your Funding Account to repay the loan on the settlement date.
Step 3: Click Borrow, and a confirmation pop-up will appear. Verify all details before proceeding.
Step 4: Read and agree to the Terms of Use, then click Confirm. Now your borrow order has been successfully placed!
Notes for Borrowers:
— Interest is charged upfront. Once a borrow order is matched, the borrowed assets, minus the interest, will be credited to the Borrower's Funding Account. Loans can be repaid at any time, but prepaid interest is non-refundable.
— 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.
— A single borrow order can be matched with multiple supply orders. If the matches occur at different times, the borrow order will have multiple settlement dates.
— The LTV is calculated based on Cross Margin mode, where collateral assets are used across all loan orders. The Initial LTV is set at 80%, meaning the total value of your borrowed assets and interest cannot exceed 80% of your collateral's value (with the collateral ratio applied).
Place a Supply Order
Step 1: Click on Finance → Fixed Rate Loan in the navigation bar to access the Fixed Rate Loan page.
Step 2: Choose an existing order from the Supply Market or create a new one by providing the following details:
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Supply Amount: Enter the amount you wish to lend.
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Interest Rate: Specify your expected interest rate.
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Duration: Choose a duration ranging from 7 to 180 days. Please refer to the page for available terms.
Step 3: Click Supply, and a confirmation pop-up will appear. Verify all details before proceeding.
Step 4: Read and agree to the Terms of Use, then click Confirm. Now your supply order has been successfully placed!
Notes for Suppliers:
— Supply orders will be automatically redeemed on the settlement date, with the loaned assets and interest credited to the Supplier’s Funding Account. Early redemption is not available.
— In case of overdue repayment by the Borrower, the Supplier will receive the loaned assets, regular interest, and overdue interest (minus any management fees) within about five minutes after successful repayment or loan liquidation.
View Your Orders
To view your orders, go to My Dashboard in the upper-right corner of the Fixed Rate Loan homepage. Here, you'll see your total borrow and supply amounts, along with your daily yields. Click View More for details on each order, including the borrow/supply amount, interest rate, settlement time, and more.
Overview
Summarize all your loan orders and collateral assets. You can toggle between Borrow, Supply, and Collateral views and use token filters to narrow down your search.
Pending Orders
Display orders that are still awaiting a match. In the Action column, you can click Cancel to cancel orders or click Details for more information on each order.
Ongoing Orders
Show orders that have already been matched. Please note that cancellation is not available for orders at this stage.
You can also review all your orders by clicking All Orders in the upper-right corner.
Repayment and Collateral History
Additional details, such as repayment, interest, liquidation, and collateral adjustment histories, can be accessed under Repayment History and Collateral History.
Repay Your Loan
Step 1: From My Dashboard, click Overview/Ongoing Orders → Borrow, locate the loan you'd like to repay, and click Repay in the Action column.
Step 2: Review the repayment details on the confirmation pop-up (including repayment amount, principal, and interest) and click Confirm. Your loan and interest have now been successfully repaid!
Notes:
— Only full repayments are allowed; partial repayments are not supported.
— Loans can be repaid at any time, but prepaid interest is non-refundable.
— If Auto-Repay is enabled, assets in your Funding Account will be automatically used to repay the loan on the settlement date, helping you avoid overdue penalties.
Adjust Your Collateral
Step 1: From My Dashboard, go to Overview → Collateral and click Adjust in the Action column.
Alternatively, you can add more collateral by clicking Add Collateral in the upper right of My Dashboard.
Step 2: To add collateral, select the Increase Collateral tab. Enter the amount you'd like to add, or click Max to use the full available balance in your Funding Account. Adding collateral reduces your LTV and lowers your liquidation risk.
To remove collateral, select the Reduce Collateral tab. Enter the amount you'd like to withdraw, or click Max to remove the Maximum Reduction Qty.
Step 3: Double-check the details and click Confirm.
Notes:
— Collateral can only be reduced if the current LTV is below the Initial LTV.
— The Maximum Reduction Qty refers to the amount that brings your LTV back to its initial level. Please refer to the amount shown in the adjustment window.
For more information on the Bybit Fixed Rate Loan, please refer to the following articles:
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