Euro pairs or USDT pairs on Bybit: checking which route gives the tighter spread for your trade

Holding euros on Bybit, you often have two ways to buy an asset. You can trade it directly against euros, if that pair exists, or convert euros to USDT first and then buy the asset against USDT. Most people choose whichever appears first. The difference can matter. Euro pairs often have less activity than USDT pairs, which can mean wider spreads and thinner order books, while the two-step route adds an extra trade. This guide shows how to compare both routes on your own account so you can decide based on what the order book shows at the time you trade.

Reading spread and depth on each pair

Open the spot order book for the euro pair and note the gap between the best bid and best ask. Then look at how much quantity sits at the first few levels. Do the same for the USDT pair of the same asset and for the euro to USDT pair. A narrow spread with plenty of depth means a market order of your size will fill close to the displayed price. A wide spread or thin levels mean you may pay noticeably more than expected.

Comparing the one-step and two-step routes

For the direct route, estimate the effective price of buying your amount on the euro pair. For the two-step route, estimate the cost of converting euros to USDT and then buying the asset with USDT, including the trading fee for each step as described on the official Bybit fee page. The direct route has one fee, the indirect route has two, so a tighter spread on the USDT pair needs to outweigh the extra step. Write both estimates down and compare.

Timing matters for euro pairs

Activity on euro pairs tends to be concentrated in European trading hours, while USDT pairs trade actively around the clock. If you trade late in the evening or early in the morning in Italy, the euro pair may be quieter than usual. Check the order book at the time you actually plan to trade rather than relying on a comparison made at a different hour. Limit orders can help on quieter pairs, because they let you set the price instead of accepting the current book.

Keeping a small record of your comparisons

After a few trades, write down which route gave the better effective price for the assets and sizes you use most, and at what time of day. Over a few weeks, a pattern usually appears that makes the decision quicker. Review it occasionally, since liquidity on pairs changes over time and new pairs may be added or removed.

Risk boundary: Bybit Italy Guide

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Scenario checkpoint

• Compare the spread and first-level depth of the euro pair and the USDT pair for the same asset
• Include the trading fee for each step when estimating the cost of the two-step route
• Check the euro pair order book at the hour you actually plan to trade, not earlier in the day
• Use limit orders on quieter euro pairs to set your own price rather than accept a thin book