Are Bybit fees effectively 6% when converting to USDT?

I’m based in Brazil and want to buy 1 ETH on Bybit.

Here’s the process of buying 1 ETH as I understand it:

1. The market exchange rate at the moment is 1 ETH = BRL 15,262.48*. I make a deposit in BRL.
2. I transfer using PIX, which says "0% fees."
3. I choose to convert this money directly to BRZ
4. As far as I know, I CANNOT buy ETH directly with BRZ. Is that correct?
5. Therefore, I have to convert the money to USDT. The official market rate is BRL 15,262.48 = USD 3,028.50*
6. On Bybit, however, if I use convert 15,262.48 BRL = 2,765.56 USDT
7. Now I need to buy ETH, but now I only have 2,765.56 USDT. For this amount, I can only buy ETH 0,94

That means I’m effectively paying 6% in fees using fiat to buy ETH.

I am missing something here? Are the ACTUAL fees, in this case, really 6%?

*When I say market rate, I use Google Finance at the moment of drafting this message.