- Perpetual Contract Account Structure and PnL Calculation

1.Account Structure

Currently, only cross margin mode is available, full margin mode is not available at this time.

Under cross margin mode, every position’s margin will be independent from other positions.

Glossary:

Transfer: Transfer cash between among accounts (spot, option, futures)

Margin: Margin used for the position, this your initial margin.

Order Margin: Margin for unfilled orders, including fees and position margin

Realized PnL: Profit and loss gained by closing positions. It can be used as margin or transferred out to other accounts.

Unrealized PnL: Current profit and loss for all holding positions on this contract.

Direction: Buy (Long) or Sell (Short)

Leverage: Actual leverage for current position

Position: Number of contracts opened

Position Value:  Contract Multiplier * Position / Latest Price

Position Margin: Margin for the position, frozen. It will move with the market. You can add or remove margin at any given time.

Average Price: Average price for opening the position

Liquidation price: Price at which the position will be forcedly liquidated

Margin Rate: Position Margin / Position Value

Index Price: Token index price (weighted average price of several leading markets).

Unrealized PnL: Profit and loss for all current holding positions. Note: This unrealized PnL is only for the current position, not for all positions.

The section on the right is used for closing positions. Closing types are: Market order, Limit Order, Opponent Price, Queue Price, Over Price. For detailed information regarding order types, please see order management.

2. PnL Calculation

User can open or close positions according to the market trend at their own will at any given point of time.

Contract Realized PnL:

Realized PnL is profit and loss for closed positions.

Buy (Long): Contract Realized PnL = (Contract Multiplier / Average Open Price– Contract Multiplier / Average Close Price) * Quantity.

For example: If some user opened 100 BTC long contracts at an average open price of 800 USDT/BTC, then closed the position at an average close price of 1600 USDTC. Then the realized PnL for this position = (1/800-1/1600) * 1 = 0.0625 BTC.

Sell (Short): Contract Realized PnL = (Contract Multiplier / Average Close Price– Contract Multiplier / Average Open Price) * Quantity.

For example: If some user opened 100 BTC short contract at an average open price of 800 USDTC, then closed the position at an average close price of 1600 USDT/BTC. Then the realized PnL for this position = (100/1600-100/800) * 1 = -0.0625 BTC.

Contract Unrealized PnL:

Unrealized PnL is profit and loss for unclosed positions.

Buy (Long): Contract Unrealized PnL = (Contract Multiplier/ Open Price – Contract Multiplier/Latest Price) * Position.

For example: If some user opened 6 BTC long contract at an average open price of 500 USDTC and the latest price is 600 USDTC. Then the unrealized PnL = (1/500 – 1/600) * 6 = 0.002 BTC.

Sell (Short): Contract Unrealized PnL = (Contract Multiplier / Latest Price– Contract Multiplier/ Open Price) * Position.

For example: If some user opened 1 BTC short contract at an average open price of 500 USDTC and the latest price is 600 USDTC. Then the unrealized PnL = (1/600 – 1/500) * 6 = -0.002 BTC.