Bybit's affiliate program is competitive within the crypto exchange space, offering up to 50% commission on trading fees from referred users. The tiered structure rewards high-performing promoters with premium rates, and Bybit's position as a top-five global exchange by volume ensures reasonable conversion potential. Marketing materials and tracking tools are adequate for professional affiliates. The main concern is the regulatory landscape -- Bybit operates in a gray area in several jurisdictions, which creates uncertainty for affiliates building long-term referral businesses. Commission rates are generous compared to many competitors, but the sustainability depends on Bybit maintaining its market position and regulatory standing. Best suited for crypto-native content creators with established audiences rather than mainstream finance affiliates.