A USDT-margined futures position is measured by the number of contracts. Each trading pair has a specific contract multiplier.
Position Size = No. of Contracts × Contract Multiplier
For example, 1 BTC contract is equal to 0.001 BTC.

Long positions are represented by a positive amounts, while short positions are negative.

The average opening price of a position adjusts whenever you add to or reduce a position.

Example: You have a BTC/USDT futures position, going long for 1,000 contracts. Your entry price is 50,000 USDT. An hour later, you decide to add 2,000 more contracts with an entry price of 60,000 USDT. Then:

Average Entry Price = Total Entry Price of BTC Contracts ÷ Total No. of Contracts

Total No. of Contracts: 1,000 + 2,000 = 3,000

Total Value of BTC Contracts = 50,000 + 120,000 = 170,000 USDT

Average Entry Price = 170,000 ÷ (3,000 × 0.001) = 56,666.7

Users can choose whether unrealized PNL is calculated using the mark price or the last traded price.

Unrealized PNL = Position Size × (Mark Price or Last Price - Average Entry Price)

Long Position Example

You have a BTC/USDT stablecoin-margined position. You hold 1,000 long contracts. Your entry price is 50,000 USDT. When the latest mark price is 55,000 USDT, your unrealized PNL will show 5,000 USDT.

Unrealized PNL = Position Size × [(Mark Price) - (Average Entry Price)] = 1 × [(55,000) - (50,000)] = 5,000 USDT

Short Position Example

You have a BTC/USD stablecoin-margined position. You hold 1,000 short contracts. Your entry price is 50,000 USDT. When the latest mark price is 45,000 USDT, your unrealized PNL will show 5,000 USDT.

Unrealized PNL = Position Size × [(Mark Price) - (Average Entry Price)] = -1 × [(45,000) - (50,000)] = 5,000 USDT

Note: The calculation of unrealized PNL does not include any trading fees or funding fees incurred during the opening, closing, or holding of positions.

Realized PNL = ∑(PNL From Reducing Positions) - Trading Fees - Total Funding Fees Since Opening

Realized PNL is the profit or loss from closing or reducing positions. It includes the PNL from the actual trade, trading fees, and total funding fees. It is calculated as the difference between the average entry and exit prices.

Example: You have a BTC/USDT stablecoin-margined position. You hold 1,000 long contracts. Your entry price is 50,000 USDT. You close 500 contracts of the position at a price of 55,000 USDT, with a partial position of 500 contracts remaining.

Partial Position PNL: 500 × 0.001 × [55,000 - 50,000] = 2,500 USDT

Position Opening Fee: (50,000) × 0.06% = 30 USDT

Position Closing Fee: (55,000) × 0.06% = 33 USDT

Assume Total Funding Fees Received: 3 USDT

Realized PNL: 2,500 - 30 - 33 + 3 = 2,400 USDT