No. 09Perps & funding
Perp PnL calculator.
See net profit, ROE and fees on a leveraged long or short before you take it.
Net PnL
1,484.25 USDT
Return on equity (ROE)
49.48%
Gross PnL
1,500 USDT
Initial margin
3,000 USDT
Fees
15.75 USDT
Method
Profit, ROE and where leverage shows up
Gross PnL on a linear perp is (exit - entry) x quantity for a long, and the reverse for a short. Fees apply to both the entry and exit notional at the rate you set.
Leverage does not change PnL - it changes the margin you posted. ROE = net PnL / initial margin, where margin = entry x quantity / leverage. That is why a modest price move becomes a large ROE at high leverage, and why a small adverse move can wipe the margin out.
Questions
Frequently asked
- What's the difference between PnL and ROE?
- PnL is the absolute profit in USDT. ROE (return on equity) expresses that profit as a percent of the margin you posted. The same PnL is a small ROE at low leverage and a large ROE at high leverage.
- Why does leverage amplify ROE but not PnL?
- PnL depends only on the price move and position size. Leverage shrinks the margin backing that position, so the same PnL divided by a smaller margin is a bigger percentage return - and a bigger percentage loss.
- Are the fees taker or maker?
- The calculator applies one flat fee rate to both the entry and exit notional. Set it to your venue's taker or maker rate; real fills may mix the two.
- Does this include funding?
- No. This is the price-and-fee PnL of a single round trip. Funding accrues separately over the holding period - use the funding rate calculator for that carry cost.
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