You might have noticed that the trade profit and loss values shown in Bybit exchange sometimes differ from those indicated in Cornix. This issue may cause confusion and concern among traders who are new to trading or these platforms and are unfamiliar with profit and loss calculations.
Let’s clear the doubt of profit and loss between Bybit and Cornix.
Take a look at the closed trades for QTUMUSDT, and compare the closed profit and loss in Bybit and Cornix for this coin.
As you can see, Cornix shows all the closed trades in profit,
while Bybit shows that these two trades made a loss and the rest of the trades made profit.
If your closed profit and loss page shows similar differences , no need to worry. We will explain why this happens and why the results seem different in these two platforms.
If we add up the profit amount from these 3 Cornix trades we get a total of $0.12,
while the total amount of these 3 trades made in Bybit is $0.0905
If we subtract the Cornix profit from the Bybit profit, it comes to $0.0295.
As you can see when we calculated the total profit and loss for these 3 trades the difference got reduced even when we had 2 out 3 trades showing a loss in Bybit. The difference we see in the amount is the trading fee that Bybit charges for each trade which Cornix does not accounts for in their closed trade profit and loss.
The reason we are adding these 3 trades as they were open during the same time period.
Which means during the opening and closing time period of the first QTUMUSDT trade, 2 more trades of QTUMUSDT opened and closed and then the first trade of QTUMUSDT that was open got closed.
When multiple trades of same coin are open at the same time and in the same direction then Bybit calculates the average price for all open trade for same coin. Therefore, profit and loss values may differ between the two platforms.
Note :
As of writing this article the trading fee charged by Bybit on each trade made in limit order is 0.01%.
Example –
To better understand this scenario, let’s take an example of BTC.
Suppose a trade for BTC has opened for $10 in Cornix. Bybit will also see one trade open for BTC with a $10 amount.
If another trade opens for BTC at $5, Cornix will show two different trades for BTC: one for $10 and one for $5. However, in Bybit, it will be counted as one open trade for BTC.Bybit will now make the average price position of the coin at $7.5.
Bybit’s average price calculation is done by first adding the price for each open trade of the same coin in same direction and then dividing it by the number of open trades for the same coin. In this scenario, we added $10 + $5 and then divided it by 2, which gave us $7.5.
Now if the first trade for Btc closes at $11 in Cornix it will be shown as $1 profit but in Bybit the profit will be shown as $3.5 because Bybit uses the average price of $7.5 to calculate the profit and loss.
If the 2nd trade closes at $6 in Cornix, it will again show a $1 profit. But in Bybit it will show a loss of $1.5.
So now when we add up profit and loss in Cornix we made a profit of $2 for both closed trades and in Bybit when we add up the profit and loss it also comes to $2.
Note :
We have not included the trading fee charged by Bybit to make the example easily understandable.
That’s why checking open and closed trades in Cornix provides a clearer and more accurate picture of profit and loss for each closed trade.
