TL;DR

• Bybit has listed SDGRUSDT, a perpetual contract tracking Schrödinger Inc. shares.
• The contract offers up to 25x leverage through the exchange’s TradFi perpetual platform.
• Holders receive synthetic price exposure rather than physical SDGR shares.

Bybit has added Schrödinger Inc. to its growing list of equities that can be traded through crypto-style perpetual futures.

The new SDGRUSDT contract opened on September 22 with leverage of up to 25x.

A Biotech Stock Enters The Perpetual Market

Schrödinger is a software and drug-discovery company, making the listing a notable extension beyond the crypto-linked and technology names that have dominated many early TradFi perpetual products.

Bybit users can now trade continuous long or short exposure to SDGR through a USDT-settled contract.

That creates a market with different hours and mechanics from the underlying stock.

It also adds leverage and funding-rate dynamics that do not exist when an investor simply buys shares.

Synthetic Exposure Comes With Different Risks

The contract does not deliver physical SDGR stock.

There are no shareholder voting rights and no direct ownership relationship with Schrödinger.

Instead, traders are taking a derivatives position linked to the stock’s price.

That distinction is especially important for investors who may be familiar with equities but less familiar with perpetual futures.

The listing is another sign that crypto exchanges increasingly see themselves as global derivatives venues rather than platforms limited to digital assets.

Bybit’s TradFi desk is now applying the same perpetual structure to a steadily wider set of public-market prices.

This article was written by the News Desk and edited by Samuel Rae.