Unified Trading Account: Updates to Interest-Free Loan Quota

Bybit is introducing an update to the interest calculation algorithm for Unified Trading Accounts on Sep 21, 2023.

The main change involves the application of the interest-free loan quota. Going forward, the interest-free loan quota will no longer apply to regular margin loans or borrowings. Instead, it will exclusively be applied to unrealized losses. If your Derivatives positions result in an unrealized loss that falls below the interest-free borrowing quota, that will be interest-free. However, do note that the entire amount will incur interest if the unrealized loss exceeds the interest-free quota.

You will be able to monitor the interest-bearing and interest-free borrowing amounts on the Borrowing Details page. As previously interest-free borrowings may become interest-bearing as a result, please manage your borrowings accordingly before the above date if you do not wish to continue incurring interest.

For a comprehensive understanding of the interest-free loan quota, as well as borrowing and repayment algorithms, we encourage you to refer to the Unified Trading Account User Guide here.

Specific adjustments are as follows:

1. Borrowing Details Page:

• Added "Borrowed Amount (Interest-Free)" field: This field indicates the amount of borrowing within your total borrowing amount that is exempt from interest charges.
• Removed "Free Borrowing Amount" field: Please refer to our Help Center for future updates on this limit.

2. Open API V5 Changes:

• Endpoint: /v5/account/collateral-info
• Added "freeBorrowAmount" field: This field represents the amount of borrowing within your total borrowing amount that is exempt from interest charges. The "availableToBorrow" value will account for deductions from other Main Account and Subaccount borrowing amounts.
• Removed "freeBorrowingAmount" field: The value of this field has been migrated to "freeBorrowingLimit".
• Added "freeBorrowingLimit" field: This field indicates the maximum limit for interest-free borrowing. If the unrealized loss portion exceeds this limit, all borrowings will be subject to interest.

We greatly appreciate your ongoing trust and support for Bybit. Should you have any inquiries or require assistance, please do not hesitate to reach out to our customer support team.