diff --git a/freqtrade/exchange/bybit.py b/freqtrade/exchange/bybit.py
index e7c463140..259858802 100644
--- a/freqtrade/exchange/bybit.py
+++ b/freqtrade/exchange/bybit.py
@@ -25,6 +25,7 @@ class Bybit(Exchange):
     officially supported by the Freqtrade development team. So some features
     may still not work as expected.
     """
+    unified_account = False
 
     _ft_has: Dict = {
         "ohlcv_candle_limit": 1000,
@@ -82,9 +83,18 @@ class Bybit(Exchange):
         Must be overridden in child methods if required.
         """
         try:
-            if self.trading_mode == TradingMode.FUTURES and not self._config['dry_run']:
-                position_mode = self._api.set_position_mode(False)
-                self._log_exchange_response('set_position_mode', position_mode)
+            if not self._config['dry_run']:
+                if self.trading_mode == TradingMode.FUTURES:
+                    position_mode = self._api.set_position_mode(False)
+                    self._log_exchange_response('set_position_mode', position_mode)
+                is_unified = self._api.is_unified_enabled()
+                # Returns a tuple of bools, first for margin, second for Account
+                if is_unified and len(is_unified) > 1 and is_unified[1]:
+                    self.unified_account = True
+                    logger.info("Bybit: Unified account.")
+                else:
+                    self.unified_account = False
+                    logger.info("Bybit: Standard account.")
         except ccxt.DDoSProtection as e:
             raise DDosProtection(e) from e
         except (ccxt.NetworkError, ccxt.ExchangeError) as e:
diff --git a/tests/exchange/test_bybit.py b/tests/exchange/test_bybit.py
index f7383934b..74a490aa9 100644
--- a/tests/exchange/test_bybit.py
+++ b/tests/exchange/test_bybit.py
@@ -3,18 +3,33 @@ from unittest.mock import MagicMock
 
 from freqtrade.enums.marginmode import MarginMode
 from freqtrade.enums.tradingmode import TradingMode
-from tests.conftest import EXMS, get_mock_coro, get_patched_exchange
+from tests.conftest import EXMS, get_mock_coro, get_patched_exchange, log_has
 from tests.exchange.test_exchange import ccxt_exceptionhandlers
 
 
-def test_additional_exchange_init_bybit(default_conf, mocker):
+def test_additional_exchange_init_bybit(default_conf, mocker, caplog):
     default_conf['dry_run'] = False
     default_conf['trading_mode'] = TradingMode.FUTURES
     default_conf['margin_mode'] = MarginMode.ISOLATED
     api_mock = MagicMock()
     api_mock.set_position_mode = MagicMock(return_value={"dualSidePosition": False})
-    get_patched_exchange(mocker, default_conf, id="bybit", api_mock=api_mock)
+    api_mock.is_unified_enabled = MagicMock(return_value=[False, False])
+
+    exchange = get_patched_exchange(mocker, default_conf, id="bybit", api_mock=api_mock)
     assert api_mock.set_position_mode.call_count == 1
+    assert api_mock.is_unified_enabled.call_count == 1
+    assert exchange.unified_account is False
+
+    assert log_has("Bybit: Standard account.", caplog)
+
+    api_mock.set_position_mode.reset_mock()
+    api_mock.is_unified_enabled = MagicMock(return_value=[False, True])
+    exchange = get_patched_exchange(mocker, default_conf, id="bybit", api_mock=api_mock)
+    assert api_mock.set_position_mode.call_count == 1
+    assert api_mock.is_unified_enabled.call_count == 1
+    assert exchange.unified_account is True
+
+    assert log_has("Bybit: Unified account.", caplog)
     ccxt_exceptionhandlers(mocker, default_conf, api_mock, 'bybit',
                            "additional_exchange_init", "set_position_mode")