I want to know about Bybit's USDT perpetual contract. What is it and how does it work? I'm interested in understanding the features and mechanics of this trading product.
USDT perpetual futures contracts represent a unique financial instrument in the cryptocurrency market.
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This feature allows traders to maintain their positions for as long as they wish, providing flexibility in their trading strategies.
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These contracts are settled in Tether USD (USDT), a stablecoin designed to maintain a value equivalent to the U.S. dollar (USD).
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By using USDT as the settlement currency, traders can enjoy the stability of a fiat-pegged asset while participating in the highly volatile cryptocurrency market.
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Cryptocurrency perpetuals, as derivatives, offer a way to trade underlying assets such as Bitcoin (BTC) or Ethereum (ETH) without the constraint of an expiration date.