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How to Manage Your Withdrawal Address BookAdditional security functions were added to the Withdrawal Address Book on Bybit in order to facilitate the withdrawal process for traders, while ensuring the safety of their account’s withdrawal functions. They can be accessed on the website by clicking on your profile icon in the top right corner and then on Account and Security. You can also manage these options on the app by tapping on your profile icon in the top left corner and selecting Security → Withdrawal Security. Please find below our guide to using the added functions:Withdrawal Address WhitelistWithdraw via Address BookNew Address Withdrawal LockManage Crypto Withdrawal Limits 1. Withdrawal Address WhitelistThe Withdrawal Address Whitelist function allows traders to verify their withdrawal wallet addresses. This is so that the email verification code and 2FA verification code will no longer be required when performing withdrawal requests on Bybit. Step 1: To begin, go to the wallet management link provided here, or click on Settings or Manage Withdrawal Addresses on the Account and Security Page. Step 2: Please click on Add on the top right corner of the page to add a new wallet address, or select the wallet address that you want to verify by clicking on Edit. Note: If you do not see the Add or Edit button, please check your browser settings and ensure that the zoom factor is set to 100% or below. Step 3: Enter the correct coin, blockchain and wallet address information for your withdrawal wallet and tick the No verification needed for this address next time option. Click on Confirm once you’re done. Note: To learn more about how to add a wallet address on Bybit, please follow the guide here. Step 4: The next window will require you to enter both the email verification code and the 2FA verification code. Click on Submit. Please first make sure to enter the email verification code received before entering the Google 2FA verification code. Your withdrawal wallet address should now be verified. Step 5: Once the verification of the wallet address is done, please activate the (Withdrawal Address Whitelist) function on the top right corner of the page in order to whitelist the verified wallet address in your withdrawal function. You have successfully verified and whitelisted your withdrawal wallet address! Notes: — Both the email verification code and 2FA verification code will remain mandatory for all unverified withdrawal wallet addresses. These will also be requested for verified wallet addresses when the Withdrawal Address Whitelist function is deactivated.— If you wish to unverify your withdrawal wallet address, just click on the Edit button and untick the No verification needed for this address next time option. Your withdrawal wallet address will no longer be verified. 2. Withdraw via Address BookThe Withdraw via Address Book function will ensure that only the addresses registered on your Withdrawal Address Book can be used to place a withdrawal request. Therefore, traders will not be able to enter a new wallet address once they enter the withdrawal window. Step 1: In order to activate this function, please click on this option’s On/Off button on the Account and Security Page. Step 2: A pop-up window will open for you to confirm that you want to enable the Withdraw via Address Book function. Click on Confirm. Step 3: A new window will require you to enter the 2FA verification code. Click on Confirm once you’re done. The Withdraw via Address Book function is now enabled on your account! Note: In order to disable this function, both email verification code and 2FA verification code will be requested. 3. New Address Withdrawal LockThe New Address Withdrawal Lock function will place a withdrawal ban on all new wallet addresses that are added to your withdrawal address book. The lock will not affect addresses that were added at least 24 hours prior to the function’s activation. Step 1: In order to activate this function, please click on the On/Off button of this option on the Account and Security Page. Step 2: A pop-up window will open for you to confirm that you want to enable the Enable 24-Hour Withdrawal Lock function. Click on Confirm. Step 3: A new window will require you to enter the 2FA verification code. Click on Confirm once you’re done. The Enable 24-Hour Withdrawal Lock function is now in place on your account! Notes:— In order to disable the function, both the email verification code and 2FA verification code will be requested and you will be restricted from making withdrawals for 24 hours after you disable the function.— Once the restriction is lifted, you can withdraw to your newly saved address. 4. Manage Crypto Withdrawal LimitsTo have better control over your withdrawals, you can also set up your own crypto daily and monthly withdrawal limits. Simply input the withdrawal amount for each limit and click on Submit. Complete the security verification and your new withdrawal limits will be applied to your account. Notes: — This feature is only available from Bybit Website.— The maximum withdrawal amount will be determined by your identity verification level as well as your VIP level. — Changing your withdrawal limits will not impact your current withdrawal requests and will only be effective from the next withdrawal requests....
Why Is My Closed P&L a Loss When My Unrealized Profit Was Positive?Understanding your profit and loss (P&L) in trading is crucial for making informed decisions and managing your investments effectively. After closing a position, you may find that your Closed P&L differs from your Unrealized P&L or Realized P&L. This article will help you understand how to interpret your position P&L information. In essence, discrepancies between Unrealized P&L, Realized P&L, and Closed P&L can be attributed to fee factors such as trading fees and funding fees. The table below summarizes these differences, providing valuable insights into the nuances of your financial outcomes and refining your approach to trading closures. Unrealized P&LRealized P&LClosed P&LPosition P&L YesYesYesFee to open positionNoYesYesFunding FeesNoYesYesFee to close positionNoYesYesUpdate FrequencyReal-TimeUpdate when realizedUpdate when a position is closed Let us first understand what P&L informations are shown inside your Positions tab on the trading pair page. Unrealized P&L The Unrealized P&L shown inside the Positions tab has the following key characteristics: 1) It is purely meant as a quick estimate of a position's estimated P&L. This is not the final position P&L. 2) This estimated P&L is calculated based on the platform's Last Traded Price (LTP). When the LTP fluctuates, the unrealized P&L will also increase or decrease accordingly. 3) The Unrealized P&L does not take into consideration any trading fees and funding fees that have been paid out to open and hold the position. 4) The formula to calculate the P&L can be found inside our help center articles. For Bybit Inverse Perpetual P&L calculations, please refer to this article.For Bybit USDT Perpetual P&L calculations, please refer to this article.For USDC Perpetual and Futures P&L calculation, please refer to this article. Realized P&L The Realized P&L shown inside the Positions tab has the following key characteristics: 1) It captures your realized assets inflow or outflow arising from the position until the position for that direction is fully closed. 2) This includes the fee to open the position or add position size, the fee to partially close the position, funding fees, and realized P&L from a partially closed position. 3) This will be reset upon the full closure of the position and you can refer to the closed P&L for the ultimate P&L outcome. 4) The formula to calculate the P&L can be found inside our help center articles. For Bybit Inverse Perpetual P&L calculations, please refer to this article.For Bybit USDT Perpetual P&L calculations, please refer to this article.For USDC Perpetual and Futures P&L calculation, please refer to this article. Next, let us understand what is the Closed P&L. The Closed P&L of each position is accessible by clicking on Orders → Derivatives Orders Or Unified Trading Orders → Closed P&L and has the following key characteristics. 1) On Closed P&L history, it shows the final position P&L considering the fee charges after closing the position. You can see two types of Closed P&L: Closed Positions and Closed Orders. 2) For Closed orders, it shows the realized P&L of every single closed transaction, including the proportionate transaction and funding fees if it is a partially closed position. 3) For Closed Position, you can review a comprehensive log of your closed Long and Short positions. It includes details from the initial opening order to the final closing order and shows the full P&L for that position calculated based on the Average Exit Price. 4) The formula to calculate the P&L can be found inside our help center articles. For Bybit Inverse Perpetual P&L calculations, please refer to this article.For Bybit USDT Perpetual P&L calculations, please refer to this article. Notes: — The leverage will affect your P&L ROI % due to the difference of initial margin used to hold position but not the P&L amount itself. Please refer to this article for more information.— To get a better estimate of your Closed P&L before closing the position, you can analyze your current Unrealized P&L and Realized P&L. If subtracting your Realized P&L from your Unrealized P&L leads to a loss, you can expect a negative Closed P&L when closing your position. Lastly, let’s refer to an example: 1) Unrealized P&L and Realized P&L calculation breakdown LTP = 43,696.60Entry Price = 43,807.30Qty: 0.002Unrealized P&L = 0.2214 USDT (The positive unrealized P&L inside the image above shows up to 4 decimal places)Realized P&L = - 0.0339 USDT (It will include the fee to open, all the funding fees incurred if any as well as an estimated fee to close (for which the taker fee rate will be used)) 2) Trading Fee and Funding Fee calculation breakdown Fee to open = (0.002/43,807.30) x 0.055% = 0.04818803 (Truncated at 8 decimal place)Fee to close = (0.002/43,704.00) x 0.055% = 0.04807440 (Truncated at 8 decimal place) Total Trading Fee (Red Box) = 0.04818803 + 0.04807440 = 0.09626243 Total Funding Fee (Yellow Box) = -0.01420107 3) Closed P&L calculation breakdown Average Final Exit Price = 43,704.00Average Entry Price = 43,807.30Qty: 0.002 Position P&L = 0.002 x (43,807.30 - 43,704.00) = 0.2066 Closed P&L = Position P&L - Total Trading Fee - Total Funding Fee= 0.2066 - 0.09626243 - (-0.01420107) = 0.12453864 USDT Disclaimer: The example above is given for illustrative purposes only and uses the trading fee rates applicable to a non-VIP account at the time of writing. Please refer to the following articles to consult the current trading fee rates applied on Bybit and to know more about funding fees....