Bybit Lists NVDLUSDT Perpetual Contract with Up to 20x Leverage

Bybit has officially launched the NVDLUSDT perpetual contract, offering traders up to 20x leverage on a token that tracks the GraniteShares 2x Long NVDA Daily ETF (NASDAQ: NVDL). This new listing opens a direct derivatives market for a product that has historically delivered explosive returns—and equally significant risks.

NVDL is designed to provide twice the daily return of NVIDIA (NVDA), making it a high-octane vehicle for traders betting on the AI chip giant's momentum. Over the past five years, NVDL has seen massive outperformance, though its leveraged structure means it can also amplify losses sharply during drawdowns.

What Happened?

On July 21, 2026, Bybit announced the listing of the NVDLUSDT perpetual contract. The contract is available on the exchange's futures platform, with leverage up to 20x. This move allows traders to gain leveraged exposure to NVDL without needing to hold the underlying ETF directly.

The listing comes as NVDL's one-year fund flows show a net outflow of approximately −1.08 billion USD, according to TradingView data. While fund flows can indicate shifting sentiment, the perpetual contract's launch may attract a new wave of speculative interest.

Why This Matters

NVDL's underlying asset, NVIDIA, remains a bellwether for the AI and semiconductor sectors. By offering a leveraged perpetual on NVDL, Bybit is providing a tool for traders to express directional views on NVIDIA with built-in daily rebalancing. However, it's crucial to remember that leveraged ETFs are designed for short-term trading—holding them over multiple days can lead to decay due to compounding effects.

Token Snapshot

• Symbol: NVDL
• Underlying: GraniteShares 2x Long NVDA Daily ETF
• Exchange: Bybit (Futures)
• Leverage: Up to 20x
• Contract Type: USDT-margined perpetual
• Tier: 3 (new listing)

Risk Notes

Important: Leveraged ETFs like NVDL are not buy-and-hold instruments. Daily rebalancing can cause significant tracking error over time, especially in volatile markets. Always use stop-losses and position sizing appropriate for your risk tolerance.

Additionally, the perpetual contract's funding rate mechanism can add cost to holding positions overnight. Monitor funding rates closely to avoid unexpected expenses.

Where to Trade

You can trade NVDLUSDT on Bybit directly. For automated strategies and signals, consider using our dedicated trading bot: Trade with our bot.