How to trade SMIC (SMIC) perpetuals on Bybit

Semiconductor Manufacturing International Corporation, known as SMIC, is China's largest and most advanced contract chip foundry, fabricating integrated circuits for customers across consumer electronics, communications, computing, and automotive sectors. As the central pillar of China's push for domestic semiconductor self-sufficiency, SMIC is closely watched by traders seeking exposure to the global chip supply chain and the ongoing technology competition between the US and China.

Bybit TradFi changes that. You can now trade SMICUSDT perpetual contracts directly on Bybit, using USDT and configurable leverage, without ever needing a stock brokerage account. This guide covers what the instrument is, its key specs and how to place your first trade.

Key Takeaways:

• SMIC TradFi perpetuals on Bybit provide price exposure to SMIC stock without requiring share ownership or a brokerage account.

• The instrument is found under TradFi → Futures → Stocks on Bybit and supports configurable leverage.

• SMIC is a high-volatility stock with sharp sensitivity to US-China trade policy and semiconductor export controls — leverage amplifies these geopolitically driven moves significantly.

What is SMIC on Bybit TradFi?

The SMICUSDT perpetual contract on Bybit TradFi is a TradFi Perpetual that tracks the price of Semiconductor Manufacturing International Corporation stock (HKEX: 0981). Like other perpetual contracts on Bybit, it has no expiry date and uses a funding rate mechanism to keep the contract price anchored to the underlying asset's market price.

Holding this contract gives you economic exposure to SMIC's price movements. It does not give you ownership of SMIC shares. That means no voting rights and no dividends. SMIC pays dividends to shareholders on its listed shares; the TradFi perpetual does not replicate that income. If dividend income is part of your goal, this instrument is not designed for it.

For a full overview of how Bybit TradFi Perpetuals work, see What are TradFi Perpetuals on Bybit?

Key details

How to trade SMIC perpetuals on Bybit

Getting started takes just a few minutes. Make sure your Bybit account is verified and that you have USDT available in your account before placing a trade.

For a detailed walkthrough of the full TradFi trading flow, visit the Bybit TradFi Perpetuals guide.

1. Log in to your Bybit account on the web or the Bybit app.

2. Navigate to TradFi. From the top menu, click TradFi, then select Futures and choose Stocks from the submenu.

3. Find SMICUSDT. Use the search bar or scroll the instrument list to locate SMICUSDT.

4. Set your leverage. Click the leverage selector and choose a multiplier that matches your risk tolerance. Lower leverage reduces your liquidation risk.

5. Place your order. Select either a market order (executes immediately at the current price) or a limit order (executes only when the price reaches a level you specify). Enter your position size, review the margin required and confirm the trade.

6. Monitor your position. Your open position appears in the positions panel below the chart. From there you can set a take-profit or stop-loss level, adjust your size or close the trade manually.

What are the risks?

SMIC is one of the more geopolitically sensitive stocks available on Bybit TradFi. Price moves can be sudden and large when US-China trade headlines break, export restriction announcements are made, or earnings reveal progress on advanced node development. Leverage magnifies all of these swings, including moves driven by events outside normal market hours.

Key risks to understand before trading:

Leverage and liquidation. Leverage multiplies both gains and losses. If the market moves against your position far enough, Bybit will liquidate it automatically to prevent your balance from going negative.

No dividend replication. As noted above, the TradFi perpetual does not pay dividends. Traders expecting passive income from SMIC's listed share dividends will not receive it through this instrument.

Funding rate. Holding a position incurs periodic funding-rate payments (or receipts). The rate floats with market conditions and continues to apply even when the underlying stock market is closed, including weekends. Over longer holding periods these payments can meaningfully affect returns.

Gap risk. A significant price gap at HKEX market open, for example after an overnight US export control announcement or geopolitical development, can push through a stop-loss before it executes. This risk cannot be fully eliminated with stop orders alone.

Reduced liquidity outside market hours. When the Hong Kong Stock Exchange is closed, spreads on SMICUSDT may widen and execution quality can decline. Factor this into position sizing and order type choices.

SMIC-specific events. US government export controls on semiconductor manufacturing equipment — including restrictions on advanced lithography tools from suppliers such as ASML — are the single most significant driver of SMIC's share price and can trigger sharp moves on any new policy announcement. SMIC reports earnings semi-annually for its HKEX listing; revenue growth, capacity utilisation rates, and any progress on advanced process nodes are closely watched by analysts. Broader US-China geopolitical developments, including potential additions to the US Entity List or changes to trade policy, can move the stock independently of any company-specific news.

Setting a stop-loss order on every position is strongly recommended. It caps your downside automatically and removes the need to monitor the market around the clock.

The bottom line

SMIC TradFi perpetuals on Bybit give you leveraged price exposure to China's leading semiconductor foundry, directly from your Bybit account and settled in USDT, with no brokerage account needed. SMIC's position at the intersection of chip industry competition and US-China trade policy makes it a high-conviction instrument for traders with a view on those themes, but the same factors that create opportunity also create sharp downside risk — disciplined position sizing and stop-loss orders are essential.

Ready to get started? Visit Bybit TradFi to open your account and start trading SMIC perpetuals today.

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