Competition Calendar
- Early registration: –
- General registration: –
- Late registration: –
- Preheat: –
- Competition: –

Eligibility
1. Users must complete Identity Verification Lv. 1 to be eligible for WSOT.
2. Only Unified Trading Accounts (UTA) are eligible for this event, including UTA Main Accounts and UTA Subaccounts.
3. Market Makers, institutional users and users with Pro 3 or above are not eligible for this event.
4. Users must click the "Register" button on the WSOT page to join all competitions and events within WSOT.
5. To participate in the daily P&L% leaderboard during the Preheat phase, please maintain a balance of over $100 for at least 5 minutes at the start of each day's leaderboard period.
6. In the Preheat event, only the UTA Main Account can receive the tasks. Please switch to your Main Account to view and complete available tasks.

About Preheat
1. New user exclusive
-This is for new users only.
- Complete the task under this category to receive multiple benefits.
- Rewards under this category are limited and distributed on a first-come, first-served basis.
- A 10 USDT airdrop will be distributed to eligible winners' Rewards Hub after a 3-day risk pending period from task completion.
- Lucky draw rewards will be distributed to eligible winners' Rewards Hub within 14 days after WSOT concludes.
2. Refer & win more
- Complete the task under this category to receive multiple benefits.
- Rewards under this category are limited and distributed on a first-come, first-served basis.
- A 7 USDT airdrop will be distributed to eligible winners' Rewards Hub after a 3-day risk pending period from task completion.
- Lucky draw rewards will be distributed to eligible winners' Rewards Hub within 14 days after WSOT concludes.
3. Daily mystery box giveaway
- Achieve daily trading milestones in various categories to unlock daily Bronze, Silver, and Gold mystery boxes.
- The daily trading milestone tasks are distributed to users based on their status/account info.
- Trade more to achieve milestones and unlock higher rewards.
- Trading volume from zero-fee pairs will not be counted toward your total trading volume.
- Mystery box rewards, if any, will be distributed to eligible winners' Rewards Hub.
4. Daily P&L% leaderboard
- A daily fixed prize pool of $20,000 will be distributed among the top 500 participants in the individual P&L% rankings, for 9 consecutive days.
- To participate in the daily P&L% leaderboard, maintain a balance of over $100 for 5 minutes at the beginning of each day’s leaderboard period to get activated.
- The daily ranking cycle is 24 hours, with rankings and rewards recalculated every 24 hours. The ranking starts at 10AM UTC each day and ends at 10AM UTC the next day. Users who join the leaderboard between 9:55AM UTC and 10AM UTC will not receive rankings for that day, as the leaderboard updates every 5 minutes.
- To be eligible for leaderboard rewards, participants must achieve a daily trading volume of at least $10,000.
- Leaderboard rewards will be distributed to eligible winners' Rewards Hub within 14 days after WSOT concludes.

P&L% ranking calculations
1. P&L% = Profit / (Initial Equity + Total Deposits) * 100%
2. Profit = [final equity (including unrealized P&L and/or bonus) – initial equity (including unrealized P&L and/or bonus) + withdrawals – deposits]
3. Deposits = Accumulated deposits (incl. transfers, awarded bonuses, commissions, asset conversions, and redemptions from Lending for UTA users) during the competition period.
4. Withdrawals = Accumulated withdrawals (incl. any withdrawals, asset conversions, and assets lent out via Lending for UTA users) during the competition period.
5. Any transfer to or from the UTA during the competition period is considered a deposit or withdrawal, respectively. Account equity is updated every 5 minutes throughout the competition.
6. P&L% includes all USDT and USDC Perpetual contracts, USDC Options, Spot Trading, Spot Margin Trading and Leveraged Tokens.
7. Tokens in your UTA will be converted to their USD equivalent value. Your overall P&L% may fluctuate based on token prices.
8. Options that expired without delivery and 0 fees option will not be calculated.

Terms and Conditions
1. If users with similar trading strategies are detected by our risk detection engine, only the participant with the highest P&L% or profit will be allowed to continue in the competition.
2. If matched trading is detected, all associated users will be disqualified from the Squad Showdown competition.
3. During the competition, users who cancel more than 10 orders per minute may be disqualified.
4. Bybit reserves the right to disqualify users engaged in inappropriate, dishonest, or abusive behaviour, including wash trading, volume faking, using multiple accounts, or market manipulation.
5. Bybit reserves the right of the final interpretation of the terms and conditions. For any questions, please contact our Customer Support.
6. Only participants who have completed Individual Identity Verification Lv. 1 or Business Verification are eligible. Please note that participants from [restricted countries and regions](https://www.bybit.com/en/help-center/article/Service-Restricted-Countries) are not eligible for this event.
7. This event is not intended for users residing in the European Economic Area (EEA), which includes Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Iceland, Liechtenstein and Norway. Participation in the EEA is strictly prohibited.