PnL Calculator
Calculate profit, loss, ROI and break-even price for spot and futures trades
What is PnL?
PnL stands for Profit and Loss. It measures the financial gain or loss from a trade by comparing the entry price to the exit price, adjusted for position size, leverage, and trading fees. Understanding your PnL before entering a trade is essential for effective risk management and portfolio planning. Gross PnL reflects the raw price movement, while Net PnL accounts for all trading costs including maker/taker fees on both entry and exit.
Spot vs Futures PnL
In spot trading, your PnL is determined purely by the percentage change in the asset price multiplied by your position size. You can only profit when the price goes up (long). In futures trading, leverage amplifies both gains and losses. A 10x leveraged position will produce 10x the PnL of an equivalent spot position. Futures also allow you to short, profiting from price declines. However, higher leverage means higher fee costs (fees are calculated on the notional value, not your margin) and greater risk of liquidation.
How Fees Affect Your Trades
Trading fees are charged on both entry and exit, which is why this calculator multiplies the fee rate by 2. On futures exchanges, fees are applied to the full notional value (position size x leverage), not just your margin. For example, with a $1,000 position at 10x leverage, a 0.04% taker fee applies to $10,000 notional value, costing $4 per side ($8 round-trip). This is why high-leverage traders should pay close attention to fee impact, as it can significantly erode profits, especially on smaller price moves. The break-even price shown tells you exactly how much the price needs to move in your favor just to cover the round-trip fees.
Understanding ROI vs Absolute PnL
Absolute PnL shows you the dollar amount gained or lost, while ROI (Return on Investment) expresses that gain or loss as a percentage of your initial capital (margin). A $100 profit on a $1,000 position is a 10% ROI. With leverage, your ROI is amplified: a 5% price move with 10x leverage produces a 50% ROI on your margin. ROI is the more useful metric for comparing trade performance across different position sizes, as it normalizes the return relative to the capital at risk. Always evaluate both metrics together to understand the full picture of your trade performance.
Tips for Managing Risk
Never risk more than 1-2% of your total account on a single trade. Use this calculator to understand your potential loss before entering a position. Pay attention to the break-even price; if it requires a significant price move just to cover fees, the trade may not offer a favorable risk-reward ratio. When using high leverage, remember that a small adverse move can wipe out your margin. Consider using lower leverage with wider stop losses rather than high leverage with tight stops, as fees and slippage have a proportionally larger impact on high-leverage positions. Always have a clear exit plan for both profit targets and stop losses before entering any trade.