What Is Pre-Market Spot Trading?
Pre-market spot trading is an over-the-counter (OTC) service that enables users to trade new tokens before their official exchange listing. This platform allows buyers and sellers to set customized quotes and execute transactions at preferred prices ahead of a token’s public launch.
Key Features
- Early Access: Trade trending tokens before official listing.
- Price Control: Set your own bid/ask prices in USDT.
- Flexible Execution: Options for full or partial order matching.
How Pre-Market Trading Works on Bybit
For Buyers
- Pay transaction fees + order amount upfront.
- Matched orders enter "pending delivery" status until settlement.
- Receive tokens at settlement or 90% of seller’s collateral as compensation if undelivered.
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For Sellers
- Provide collateral (based on margin rate) + pay fees.
- Must hold tokens in Unified Trading Account by settlement time.
- Failure to deliver results in forfeited collateral (100% loss).
Pricing Mechanics
- User-Determined: Prices reflect buyer/seller agreements.
- Last Trade Price Change: Calculated as _(Current Price - Previous Price)/Previous Price_.
Unique Advantages
- Early Participation: Capitalize on token hype cycles.
- Potential Price Arbitrage: Secure better rates vs. post-listing markets.
- Customizable Orders: Choose full/partial execution preferences.
Risk Management
| Risk Factor | Buyer Impact | Seller Impact |
|---|---|---|
| Token Non-Delivery | 90% collateral compensation | Full collateral loss |
| Listing Delays | Order remains valid | Must maintain collateral |
| Market Volatility | Price fluctuations post-settlement | Exposure to token price changes |
FAQs
Q: Can I modify orders after matching?
A: No – matched orders become binding contracts. Only unmatched portions can be canceled.
Q: How does partial execution work?
A: When enabled, your order may fill incrementally across multiple counterparties. Disabling it requires full execution by one party.
Q: What happens if tokens aren’t listed?
A: Executed orders remain valid, but there’s no guarantee of eventual listing. Monitor official announcements.
Q: Are there leverage options?
A: No – pre-market trading requires full collateralization without leverage.
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Best Practices
- For Buyers: Diversify orders across multiple sellers to mitigate delivery risk.
- For Sellers: Secure tokens via spot purchases post-listing if needed.
- For All: Monitor settlement timelines in Order History.
Liquidity Insights
Active participation determines market depth:
- More participants → Better price stability
- Wider quote spreads → Higher potential arbitrage
Note: Pre-market prices don’t guarantee official listing prices, which depend on broader market factors.
Why Choose Bybit’s Pre-Market?
- Transparent Process: Clear collateral rules and settlement terms.
- Risk-Controlled: Compensation mechanisms protect buyers.
- First-Mover Advantage: Position ahead of retail traders.
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