Bybit plans to convert its SHEINUSDT pre-market perpetual contract into a standard perpetual contract around Sept. 1, 2026, at 03:44 UTC, while Gate plans to migrate its equivalent contract to an official SHEINUSDT perpetual after SHEIN’s expected initial public offering and once the stock price stabilizes. Bybit expects leverage of up to 25x after conversion, whereas Gate says its official contract will support 1–50x leverage for long and short positions. Both exchanges may adjust contract parameters, while Gate says existing positions and futures trading will remain unaffected during its migration.