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Get started with Bybit trading competition at ease & never miss out on any opportunities to win bonuses and rewards!

The benefits you gain from joining trading competitions are boundless. You can make money, hone your trading skills, explore untried strategies and so much more. Bybit hosts a plethora of trading competitions, from small but frequent product-specific competitions held once a month or bimonthly to annual grand events like the World Series of Trading Competition (

). These competitions are a perfect avenue to help you reap profits, even in a bear market. 

With so many types of competitions, you may need more clarification on what types you’re eligible to join and what kind of rewards you can gain from them. With this handy guide, you’ll wonder no more as we break down the nitty-gritty of participating in Bybit's trading competitions.

With all its varying products, Bybit has many different kinds of competition, ranging from 

. Regardless of the type of competition, participants are usually ranked on the leaderboard based on either profit and loss (P&L) ratio or trading volume. 

P&L refers to the total amount of revenue and costs of your trading throughout the competition. Hence, when you compete to rank for P&L, you're competing to show how profitable you are.

P&L (%) = (Profit / Initial Equity + Total Deposits) * 100%

If you have the same P&L% as another participant, your total trading volume will then determine your ranking.

In the case of WSOT, in which the Squad Showdown event involves group participants, there are three other ranking factors: Squad P&L (%), Individual Profit and Trading Volume. This means that you’ll be ranked based on three aspects — team P&L, individual profit and trading volume — which in turn garners you three types of rewards just for competing in one event.

Trading volume measures the total number of contracts or crypto traded during the competition. If you achieve the same trading volume as another competitor, you’ll then be ranked based on the time you took to reach that trading volume. 

Benefits of Joining a Crypto Trading Competition

Participating in a crypto trading competition offers numerous benefits that can uplift your trading journey, especially during a challenging market phase. Despite the recent crypto winter and negative sentiments, these competitions bring exciting rewards that can offset your losses and reignite your motivation to seek financial gains. Moreover, the experience gained from live trading is invaluable, surpassing theoretical knowledge. Competitions provide real-life insights, opening your eyes to new opportunities amidst the downturn.

Competing also inspires you to explore innovative trading strategies, going beyond your comfort zone and potentially yielding astounding gains. Comparing your performance with other traders on a level playing field allows you to gauge your abilities and even earn coveted bragging rights if you emerge victorious.

Please be aware of several registration criteria, as they’ll affect your eligibility to join the competitions.

Depending upon the specific competition, the registration criteria will look at the amount of net assets or net equity you have in your Bybit account. But what’s the difference between net assets and net equity? Net assets are your total assets minus your liabilities, and include unrealized gains and losses, whereas net equity excludes unrealized gains and losses.

Besides net assets and net equity, other elements also come to play in influencing your eligibility to join a competition. For instance, a single user shouldn’t have more than one account. If you create multiple accounts to join competitions on Bybit, you’ll be considered a fraud and will consequently be disqualified. Furthermore, you can only participate in one competition within the same time frame, except for grand-scale competitions like WSOT and ETH Trading Fiesta that hold several events within one competition. In such cases, you’ll be able to participate in more than one event simultaneously.

While you may only open one main Bybit account, you can open up to 20 

 connected to your main account. However, your Subaccounts cannot be used in trading competitions, since they include automated tools such as grid tools and copy trading, which poses an unfair edge over competitors who trade manually.

Similarly, Market Makers and Pro users are prohibited from joining Bybit competitions, as they’re typically institutional traders who can make use of their high trading volumes to gain an edge in the competitions.

While most Bybit competitions only specify net assets or net equity as their registration criteria, certain competitions also require a referral link or code on top of the minimum net assets or net equity amount. Through joining such competitions, you can also expect exclusive rewards not found in other competitions.

Speaking of rewards, Bybit generally offers two types of rewards for its competitions: the prize pool and lucky draw. It’s important first to ensure you’re eligible for rewards, especially for P&L-ranked competitions. Even if the competition is ranked by P&L, you’ll still need to hit a minimum specified trading volume before you qualify for rewards. For example, the 

 held in Feb 2023 required participants to reach a trading volume of at least $5,000 before they could earn any rewards.

The main reward base for Bybit competitions is the prize pool. The prize pools can consist of hundreds of thousands of USDT, or even millions of USDT, depending on the scale of the competition. For large-scale competitions like WSOT and Copy Trading Fiesta, participants can enter several events under these competitions and obtain more rewards. And as mentioned earlier, WSOT 2023 group competition event, the Squad Showdown, lets you win three different types of rewards. 

Ranking among the top 10 in Squad P&L (%) will earn your team a share of the prize pool, and should the total number of participants exceed 100,000, you can also earn individual profit rewards and individual trading volume rewards for being among the top 150 in each of these categories.

It's good to embrace a positive and encouraging mindset as you participate in trading competitions. Observe and learn from the strategies employed by other contestants to refine your own trading plan. By analyzing their moves, you can gain valuable insights and give yourself a competitive edge. Remember, however, that it's also essential to think critically and avoid blindly copying others.

Always analyze your own performance and adjust your strategy accordingly, even in short-term competitions. Also, stay informed about market events and developments that can impact your performance, as this knowledge will maximize your chances of success. With the right mindset and strategic approach, you can excel in trading competitions.

Bybit is actively organizing trading competitions to provide users with a chance to maximize rewards, even during the bear market. Following are some of the ongoing trading competitions on Bybit that you might consider.

Participants in the Squad Showdown are divided into groups, battling it out for the ultimate Derivatives trading bragging rights.

Each of these Squads is led by Squad Leaders as they bring Derivatives trading to the next level. Squad Leaders are entitled to an exclusive 20% cut from the squad's total prize.

Be a top Follower or a Master Trader to win from the 300,000 USDT prize pool.

Win up to $1,000 in BTC daily from the 620,000 USDT prize pool! Simply complete five easy tasks every day between Jul 24, 2023 and Aug 17, 2023.

Grab up to 12,000 USDT from the 80,000 USDT prize pool! Invite friends between Jul 24, 2023 and Aug 17, 2023, and get them to deposit or trade.

How do I know my rewards distribution status?

There will be a Bybit blog/announcement post regarding rewards distribution and dates.

You can only collect your rewards after a competition ends, with the waiting period ranging from one week to a month. A risk review will be conducted after each competition ends, after which the rewards will be given on the date specified in the blog/announcement post. 

As highlighted above, creating multiple accounts to earn more rewards in competitions is considered fraudulent behavior and will lead to disqualification. Other fraudulent behaviors include 

, volume faking, market manipulation and more. Be sure to read the competition’s terms and conditions carefully to avoid getting disqualified. 

Now that you’ve learned about all the rankings, registration criteria and rewards in Bybit trading competitions, you might be eager to flex your muscles in some of them. But before you do, remember that it’s important to carefully pore over the terms and conditions to ensure you get properly reimbursed for your efforts.

We hope our tips will help your competition journey be a fun and fruitful one. May you enjoy the process and savor the sweetness of winning!

How to Join Bybit Trading Competitions & WSOT 2023 (Ultimate Guide)

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