diff --git a/pybit/_websocket_stream.py b/pybit/_websocket_stream.py
index 2ba0086..b006b7c 100644
--- a/pybit/_websocket_stream.py
+++ b/pybit/_websocket_stream.py
@@ -266,6 +266,7 @@ def _send_initial_ping(self):
         timer = threading.Timer(
             self.ping_interval, self._send_custom_ping
         )
+        self.ping_timer = timer
         timer.start()
 
     @staticmethod
@@ -288,7 +289,8 @@ def exit(self):
         """
         Closes the websocket connection.
         """
-
+        if self.ping_timer:
+            self.ping_timer.cancel()
         self.ws.close()
         while self.ws.sock:
             continue