Bybit Lists UVXYUSDT Perpetual with 20x Leverage: A New Frontier for Volatility Traders

Bybit has officially launched the UVXYUSDT perpetual contract, bringing the ProShares Ultra VIX Short-Term Futures ETF (UVXY) to the crypto derivatives market. With up to 20x leverage available, this listing bridges traditional finance volatility products with the speed and accessibility of crypto futures trading.

UVXY is an exchange-traded note designed to deliver 1.5x the daily performance of the S&P 500 VIX Short-Term Futures Index. It is a popular tool for hedging equity downturns or speculating on market fear. Bybit's perpetual version allows traders to go long or short on this volatility benchmark 24/7, without the constraints of traditional market hours.

What Happened and Why It Matters

The listing comes amid heightened volatility in traditional markets. Recent price alerts show UVXY experienced a 5.57% spike over a 6-hour window on June 17, 2026, followed by a 5.71% drop over 24 hours on June 12. These swings reflect the inherent sensitivity of VIX-linked products to sudden shifts in investor sentiment.

Bybit's decision to offer a perpetual swap—rather than a standard futures contract—means traders can hold positions indefinitely, paying or receiving funding fees. This structure is ideal for those looking to maintain hedges or directional bets on volatility without worrying about expiry dates.

Note: UVXY is a derivative of a derivative. It tracks VIX futures, not the VIX itself, and is subject to contango and backwardation effects that can erode value over time.

Token Snapshot

• Symbol: UVXY
• Name: ProShares Ultra VIX Short-Term Futures ETF (Derivatives)
• Category: Tokenized Stock / Synthetics / TradFi Assets (Derivatives)
• Current Supply: Infinite (no fixed supply)
• Last Known Price: $26.18 (down 5.04% over 24 hours)
• Active Markets: 26
• Exchange Listing: Bybit Futures (UVXYUSDT Perpetual)
• Max Leverage: 20x

Risk Considerations

Trading UVXY perpetuals carries unique risks:

• Decay from contango: VIX futures curves are typically in contango, causing long positions to lose value over time even if the VIX stays flat.
• Leverage amplifies losses: 20x leverage can liquidate positions quickly during sharp moves.
• Low liquidity risk: As a new listing, order book depth may be thin, leading to slippage.
• Regulatory uncertainty: Tokenized equities and derivatives face evolving scrutiny across jurisdictions.

Where to Trade

You can trade UVXYUSDT perpetual on Bybit. For automated strategies, consider using our trading bot to manage entries, exits, and risk.

Trade with our bot