Bybit has launched the LYTEUSDT TradFi perpetual contract, opening trading on a USDT-settled derivative tied to the Roundhill Photonics & Optics ETF (LYTE). The contract offers up to 25x leverage, a 0.01 tick size, an 8-hour funding fee settlement interval and a capped funding rate of 2%, with trading available 24 hours a day, seven days a week. Bybit said the product can also be traded through Futures bots including Futures Grid, Futures Martingale and Futures Combo. The exchange said TradFi perpetual contracts are synthetic derivative instruments that track the price movements of underlying assets such as equities, ETFs and commodities without giving traders ownership of those assets or rights such as dividends or voting. It also warned that prices can diverge from the underlying asset and that leveraged trading carries significant risk, including the potential total loss of margin.