How to Export Bybit Transaction History for Canadian Taxes
A step-by-step guide to generating API keys and exporting CSV files from Bybit for CRA tax reporting.
-
Method 1: API (Auto-Sync)
The most accurate method that automatically pulls Spot, Derivatives, and Unified Trading Account history into tax software.
-
Method 2: CSV Export
A manual backup method requiring you to generate specific reports for Trade History and Funding fees.
Let’s be honest, figuring out your taxes for Bybit is stressful. If you are a Canadian user, you likely have the added pressure of Bybit’s regulatory changes in Canada, making you wonder if your data is safe or if the CRA is watching.
Whether you are still trading or just trying to clean up your history from previous years, you have to get this right. The Canada Revenue Agency is getting much better at tracking crypto activity, and ignoring your Bybit transaction history is not an option. This guide will walk you through exactly how to get your data out of the exchange and compliant with Canadian tax laws.
Does Bybit Report to the CRA?
This is the most common question Canadian traders ask. Bybit is not registered with Canadian securities regulators, which is why they have faced restrictions in provinces like Ontario and Quebec. However, lack of registration does not mean you are invisible.
Bybit does not automatically mail a T5008 form (Statement of Securities Transactions) to you or the CRA. Unlike a Canadian stock brokerage (like Questrade or Wealthsimple), Bybit operates globally.
But here is the catch. The CRA has the power to issue “Unnamed Persons Requirements” (UPRs) to exchanges to force them to hand over user data. Furthermore, international tax treaties and data-sharing agreements exist. If you have moved crypto from a KYC-compliant Canadian exchange (like Shakepay or Newton) to Bybit, the CRA can easily trace that path.
Also, keep the T1135 Foreign Income Verification Statement in mind. If the total cost amount of your “specified foreign property” (which includes crypto on foreign exchanges like Bybit) exceeds $100,000 CAD at any time during the year, you must file this form. Since Bybit holds your assets offshore, this likely applies to you.
Method 1: Connecting via API (The Easy Way)
Using the API is the best route for most users. It saves you from having to format messy spreadsheets. However, you must be careful to set the permissions correctly so that tax software can read your data without being able to execute trades on your behalf.
Step 1: Locate API Management
Log in to your Bybit account. Hover over the profile icon in the top right corner and select API from the dropdown menu.
Step 2: Create a New Key
Click on the button that says Create New Key. You will likely see options for “System-generated API Keys” or “Third-party applications.” Choosing “System-generated” usually gives you more control.
Step 3: Configure Permissions
This part is critical for your security.
- API Key Usage: Select “API Transaction.”
- Name: Give it a recognizable name like “TaxSoftware2026.”
- Permissions: Check the box for Read-Only. Never check “Read-Write” for tax purposes.
- Data Access: Ensure you check the boxes for “Block Trade,” “Orders,” “Positions,” “Derivatives,” and “Spot.” If you have a Unified Trading Account, ensure that specific box is checked.
Step 4: Save Your Keys
Once you click submit and complete the 2FA security verification, Bybit will show you your API Key and API Secret. You must copy the Secret immediately. Bybit will never show it to you again. Paste these two strings into your tax software to begin the sync.
Method 2: Exporting Bybit CSV History
If the API fails or you have a very complex history involving early Bybit days, you might prefer the manual CSV route. Be warned: Bybit limits the date range for exports, so you may need to download multiple files.
Step 1: Access Orders & Trades
Go to the Orders menu at the top right. Depending on what you traded, you will need to look at both “Spot Order” and “Derivatives Order” sections.
Step 2: Export Trade History
Do not rely on the “Order History” alone. You need “Trade History” because that shows the actual executed price and fees. Click Export in the top right corner of the data table.
Step 3: Select Date Range
Bybit often limits exports to 3 or 6 months at a time. If you have been trading for three years, you will need to generate 6 to 12 separate files. Do not overlap dates, or you will create duplicate transactions in your tax report.
Step 4: Don’t Forget Funding and Withdrawals
Trading isn’t the only taxable event.
- Go to Assets > Funding Account (or Unified Trading Account) > History.
- Export your “Deposit” and “Withdrawal” history. This is vital for proving your cost basis if you transferred assets in from another wallet.
- Export “Funding Fees” if you traded perps. These fees are deductible expenses (or income) that affect your net profit.
Common Bybit Import Errors (Troubleshooting)
Even with the best tools, Bybit data can be finicky. Here are the most common issues Canadian traders face.
The Unified Trading Account (UTA) Chaos
When Bybit introduced the Unified Trading Account, it changed how backend data was reported. If your tax software shows massive balance discrepancies right around the time you upgraded to UTA, you may need to treat the upgrade as an internal transfer rather than a taxable disposal.
Missing P&L from Inverse Futures
Inverse contracts (Coin-Margined) are tricky because your collateral is the crypto asset itself (e.g., BTC), not USDT. If your CSV shows a profit of 0.1 BTC, ensure your tax software recognizes that as income at the market value of BTC at the exact time the trade closed.
Airdrops and Launchpad
Bybit Launchpad rewards often appear as “System Deposits” or “Airdrops” in the CSV. Ensure these are tagged as “Income” in your tax software. If they are tagged as “Buy” with a cost basis of zero, your taxes will be calculated correctly, but if they are ignored, you are missing out on establishing a cost base.
Canadian Specifics: ACB vs. FIFO
This is where many Canadians get burned. Most generic advice online tells you to use FIFO (First-In, First-Out) for calculating crypto taxes. This is standard in the USA, but it is incorrect for Canada.
The CRA requires you to use Adjusted Cost Base (ACB).
Think of ACB as an average. If you bought 1 BTC at $10,000 and another 1 BTC at $50,000, your ACB for that pool of Bitcoin is $30,000 per coin. When you sell, you calculate gains based on that average, not the price of the first coin you bought.
If you try to do this manually in Excel using Bybit’s raw CSVs, it is incredibly difficult, especially if you have hundreds of trades. A raw export gives you the data, but it does not do the math. You need to pool the costs of identical assets together. This is why using Canadian-friendly tax software that supports “ACB” as a calculation method is essentially mandatory for active Bybit traders.
Conclusion
Dealing with Bybit taxes in Canada is complicated by the lack of T5008 forms and the platform’s advanced trading features like derivatives and UTA. However, the data is there if you know where to look.
Start by generating your Read-Only API keys today. If that fails, move to the manual CSV method, ensuring you capture every deposit, withdrawal, and funding fee. The CRA is not concerned with which exchange you used, but they are very concerned that you report the income generated there. Get your data sorted, calculate your ACB, and file with confidence.