Bybit and Taxation in Spain: How to Declare in the IRPF

Bybit is one of the most widely used crypto derivatives exchanges globally, and its user base in Spain has grown significantly. If you traded on Bybit during 2024—whether in spot, perpetual futures, or inverse contracts—here's the complete guide.

Bybit and European Regulation

Bybit historically operated from Dubai, raising questions about its obligation to report to the AEAT. However, with the implementation of DAC8 and the MiCA regulation, exchanges operating with European users have increasing reporting obligations. The AEAT has cross-referenced data through direct requests to several offshore exchanges. Always declare, even if you haven't received a notification.

Exporting Bybit's Transaction History

Spot History

1. Log in to Bybit.
2. Go to Assets → Order History or Trading → Spot → History.
3. Select the range: 01/01/2024 – 31/12/2024.
4. Click Export → CSV.

Derivatives History (Perpetual Futures, Inverse Contracts)

1. Go to Derivatives → Contract History.
2. Select the contract type: USDT Perpetual, Inverse Perpetual, or USDC Perpetual.
3. Export CSV by quarter (range limits may apply in some cases).

Earn History (ByFi)

1. Go to Finance → Bybit Earn → History.
2. Export CSV of rewards for flexible staking, locked staking, or launchpool.

Deposit and Withdrawal History

1. Go to Assets → Transaction History.
2. Filter by Deposit or Withdrawal.
3. Export CSV.

Taxation of Transactions on Bybit

Spot Trading

Capital gains or losses are taxed under the savings base. Exactly the same as on any exchange.

USDT Perpetual Futures

The PnL (Profit and Loss) of futures contracts is taxed as capital gains or losses when the position is closed. The funding rate (periodic payment/receipt for keeping the position open) is also taxed as income at the time it is credited.

Inverse Futures (COIN-Margined)

If the margin and PnL are in the cryptocurrency itself (BTC, ETH, etc.), each settlement generates a transfer of that crypto. The conversion of PnL to EUR must be done at the exchange rate on the closing day.

Bybit Earn (Staking, Liquidity Mining)

Rewards are taxed as investment income on the date they are credited.

Launchpad and Launchpool

Tokens received for participating in Launchpad (purchasing with BIT or staking with BYD) are taxed as non-transfer capital gains at the time the tokens are received.

Special Case: Forced Liquidations

If a position is liquidated by the exchange (margin call), the closing event is also a taxable event. The loss is deductible as a capital loss.

The Problem of Using USDT as a Reference

Bybit uses USDT as the base currency in its USDT-perp contracts. Each PnL credited in USDT is technically an acquisition of USDT. When you convert USDT to EUR, that exchange can also generate a gain or loss depending on the exchange rate. In practice, if USDT trades close to 1:1 with the dollar, the variation is minimal, but it must be accounted for.

Bybit Taxation Summary

Updated: April 2026 | Tax Year: 2025