Bybit added percentage-of-volume orders to its spot exchange on 15 October, giving users of supported pairs a way to divide a larger transaction into smaller orders that respond to trading activity or available liquidity. The feature carries no extra strategy charge; ordinary spot trading fees apply.[1]
The change adds a different control to the exchange’s existing time-weighted execution. TWAP schedules portions of an order at regular intervals. POV instead adjusts the amount sent using a participation rate and a market-volume or order-book reference, although the trader still selects how frequently orders are submitted.[3][1]
Three ways to calculate and place a Bybit Spot POV order
| Mode | Sizing reference | Execution |
|---|---|---|
| Traded Volume | Recent traded volume over the selected lookback window | Market orders |
| Opposite-Side Liquidity | Depth available across selected levels on the opposite side | Taker limit orders |
| Same-Side Liquidity | Depth on the trader’s side of the book | Post-only orders at the best bid or offer; unfilled amounts cancel and repost next cycle |
An illustrative calculation shows the difference between participation and total order size. If a trader references 200 units of opposite-side depth and chooses 5%, the indicated sub-order is 10 units. The next cycle can produce a different quantity as the book changes. This is a calculation from the documented sizing rule, not an observed execution.[2]
The trader can stop the strategy after a chosen quantity, a chosen duration, or whichever threshold is reached first. A time limit consequently controls how long the strategy runs rather than promising that every unit will be filled before it ends.[2]
Maker execution does not always lower the fee
Bybit describes maker placement as fee-efficient, but its published base crypto-to-crypto spot schedule charges non-VIP customers 0.10% for both maker and taker trades. At VIP 1, the published rates differ: 0.0675% maker and 0.08% taker. Actual rates can vary by region, and special trading zones have separate schedules. The account’s displayed rate therefore determines whether this mode offers a commission saving.[4]
The choice is between urgency and participation. Lower participation can leave more of the order waiting; aggressive settings consume liquidity faster. Bybit promotes reduced slippage, but supplies no comparative execution study. Achieved price, completed quantity and cost remain the useful measures.[1]
Sources & further reading
- POV orders now live on Bybit Spot! Bybit · 15 Oct 2026 · Accessed 20 Oct 2026
- Percentage of Volume (POV) Order Bybit Help Center · Accessed 20 Oct 2026
- Introduction to TWAP Strategy Bybit Help Center · Accessed 20 Oct 2026
- Bybit Trading Fee Structure Bybit Help Center · Accessed 20 Oct 2026