What does PnL mean on Bybit?

Understanding PnL on Bybit

PnL stands for Profit and Loss, and on Bybit, it is a critical metric used by traders to assess the performance of their open and closed positions in perpetual and futures contracts. This value reflects the realized gains or losses from closed trades and the unrealized gains or losses from active positions. Bybit displays PnL in two main forms: Unrealized PnL and Realized PnL. These values appear directly in your position tab and wallet balance section, allowing you to monitor your performance in real time.

Unrealized PnL vs. Realized PnL

• Unrealized PnL represents the current profit or loss of an open position based on the latest market price. It changes dynamically as the market moves.
• Realized PnL is the actual profit or loss locked in when a position is fully or partially closed. This value is final and added to or subtracted from your wallet balance immediately.

  For example, if you open a long position at $50,000 and the price rises to $52,000 while the position remains open, your Unrealized PnL will show a positive value. If you close the position at $52,000, that same value becomes your Realized PnL and is reflected in your available balance.

  How to Locate PnL on the Bybit Interface

  To find your PnL on Bybit:
• Navigate to the 'Positions' tab in the Futures or Perpetual trading section.
• Look for the column labeled 'Unrealized PnL'—this shows floating gains or losses.
• After closing a trade, go to the 'Wallet' section or the 'Transaction History' tab to see the Realized PnL.
• You can also view detailed breakdowns by clicking on the specific position to see entry price, mark price, liquidation price, and estimated PnL.

  Each of these steps ensures you are tracking your performance accurately without relying on external tools.

  Calculating Unrealized PnL for Long and Short Positions

  Bybit uses different formulas depending on whether your position is long or short:

  For a long position:

  Unrealized PnL = Position Size × (Mark Price - Entry Price)

  For a short position:

  Unrealized PnL = Position Size × (Entry Price - Mark Price)

  • Position Size refers to the quantity of the asset you hold (e.g., BTC, ETH).
  • Mark Price is the fair price used by Bybit to prevent manipulation—it’s derived from multiple exchanges.
  • Entry Price is the average price at which you opened the position.

  For example, if you open a long position of 0.1 BTC at $50,000 and the Mark Price is now $51,000:

  Unrealized PnL = 0.1 × (51,000 - 50,000) = **$100**

  This $100 is your current unrealized gain.

  How Realized PnL is Calculated and Applied

  When you close a position, Bybit calculates Realized PnL using the same formula as Unrealized PnL but locks in the value based on the exit price. Additionally, Bybit deducts trading fees from this amount.

  The formula:

  Realized PnL = (Exit Price - Entry Price) × Position Size - Trading Fees

  Trading fees on Bybit are typically 0.1% for takers and 0.02% for makers. These are automatically deducted from your Realized PnL.

  Example:

  • Open long at $50,000 with 0.1 BTC
  • Close at $52,000
  • Trading fee (taker): 0.1% of $52,000 × 0.1 = $5.20

  Realized PnL = (52,000 - 50,000) × 0.1 - 5.20 = **$194.80**

  This $194.80 is added to your wallet balance instantly after the trade closes.

  Frequently Asked Questions

  Q: Why is my Unrealized PnL negative even when the market seems to be moving in my favor?A: This can happen if the Mark Price differs from the Last Traded Price due to market volatility or funding rate adjustments. Bybit uses Mark Price to calculate PnL to prevent price manipulation—always check this value in your position details.

  Q: Does PnL include funding fees on Bybit?A: Yes. Funding fees are included in your Realized PnL when you close a position. If you hold a position through a funding interval, the fee (positive or negative) is automatically applied and reflected in your PnL calculation.

  Q: Can I see historical PnL for all my trades on Bybit?A: Yes. Go to the 'Transaction History' tab under your wallet. Filter by 'Derivatives' to see a full list of realized PnL entries, including dates, symbols, and net profit or loss per trade. This log is essential for tax reporting or performance tracking.

  Q: Is PnL shown in USD or the base currency (like BTC)?A: Bybit displays PnL in USD (or USDT) for all contracts, regardless of whether the base asset is BTC, ETH, or another cryptocurrency. This standardization makes it easier to compare performance across different assets.