In order to help institutional traders simplify the transaction process and provide a source of liquidity for block transactions and spread transactions. Bybit has now reached a partnership with Paradigm. Paradigm is a platform that automates over-the-counter (OTC) encrypted transactions for large single and multiple transactions.
Through this integration. Institutional traders can now use Paradigm RFQ to obtain instant liquidity of futures and futures spreads.
Paradigm RFQ allows users to request two-way quotations from multiple dealers at the same time without revealing their identity or transaction direction. Then the best bid or offer is executed immediately.
Currently supported transactions include: BTC and ETH futures contracts, XRP and EOS perpetual contracts. Once the trader decides to execute the selected quote. The transaction will be automatically directed to Bybit for execution and clearing.
All block trades are executed outside of the order book. To reduce the impact on market prices.
Currently, Paradigm supports reverse perpetual and reverse futures contracts.
That is, the user can maximize the profit of two contracts at the price of one contract;
In addition, USDT perpetual contract will be supported in the future.