Crypto futures PnL calculator

key_takeaways

Key takeaways

• The break-even price is the exit price at which net PnL is zero after fees and funding. It is not your entry price.
• Fees are charged on the full notional, not on the margin, so at high leverage they take a larger share of the margin.
• Funding can add to net PnL or take from it.

Results are estimates from the numbers you enter.

How to use this futures profit calculator

1. Pick the direction. A long profits when price rises, a short when it falls.
2. Enter entry and exit. Use your fill prices, not the chart prices, if you want slippage reflected. See what slippage is.
3. Set the size. Type the quantity in coins, or switch to margin and leverage and let the calculator derive the quantity.
4. Add leverage for ROE. ROE divides net PnL by the initial margin, and the margin follows from size and leverage.
5. Add your fees and funding. The example values for both are invented, so replace them with your own. Empty fields count as zero, and the result is then gross PnL only.

Everything updates as you type. Your numbers stay in your browser.

Formula

side     = +1 (long), -1 (short)
quantity = given, or margin x leverage / entry

gross    = side x (exit - entry) x quantity
fees     = quantity x (entry x feeIn + exit x feeOut)
funding  = -side x quantity x avgPrice x rate x intervals
           avgPrice = (entry + exit) / 2
net      = gross - fees + funding

margin   = entry x quantity / leverage
ROE      = net / margin

Fee and funding rates enter the formulas as decimals. The calculator converts the percent you type.

Worked example

Break-even price

The break-even price is the exit price at which net PnL is exactly zero after fees and funding. It is not your entry price. A long needs the market to move up far enough to pay both fees and any funding; a short needs it to move down.

The calculator solves net PnL = 0 for the exit price. With a = entry fee, b = exit fee and k = funding rate × intervals / 2 (all as decimals), break-even = entry × (side + a + side × k) / (side − b − side × k).

Funding changes the direction of the shift. If you receive funding, it covers part of the fees and the break-even moves back toward entry. It can even cross to the other side of entry when the funding income is larger than the fees.

How do I calculate my futures profit by hand?

Multiply the price difference by the quantity, flip the sign for a short, then subtract costs. For a quick check, the price change in percent times the leverage gives a rough ROE before fees and funding.

The rough check misses fees, which are charged on the full notional and not on the margin. At high leverage they take a larger share of the margin, which is why small price moves can end in a net loss even when the direction was right. Why the entry fee and the exit fee can differ is explained in maker vs taker fees.

How do you profit from futures?

A long profits when the exit price is above the entry price by more than the costs, a short when it is below. Because you can open either side, a falling market can pay a short. The same leverage that magnifies a gain magnifies a loss by the same factor.

Crypto profit calculator: spot or futures?

A crypto profit calculator for a spot trade, where you buy coins and sell them later, is a special case of this one. Set the direction to long, enter leverage 1 and leave funding empty. Spot trades have no funding and need the full notional as capital, so ROE equals the percentage return on your outlay after fees.

Futures differ in three ways. You post only a fraction of the notional as margin, you can go short, and perpetual contracts charge or pay funding while the position is open.

Perpetual contracts and dated futures

This futures calculator is built for linear perpetual contracts, where size is a quantity of coins and profit is paid in the quote currency. A perpetual has no expiry. Funding payments between longs and shorts are designed to keep its price near the spot price.

Dated futures, such as index or commodity contracts, usually have a contract multiplier: each price point is worth a set amount per contract. If you know that amount, enter contracts times multiplier as the quantity and leave funding empty. Margin rules and fee schedules for those contracts differ, so check them separately.

Inverse contracts

An inverse contract is margined and settled in the coin itself and quoted in the currency. Its profit in coins is contracts × (1 / entry − 1 / exit) for a long, with the sign reversed for a short. Because the formula uses the reciprocal of price, profit is not linear in the price move. This calculator does not handle inverse contracts.

Limits of this calculator

• It does not model liquidation, maintenance margin, auto-deleveraging or margin modes. A loss that reaches your initial margin triggers a warning, nothing more.
• Funding uses one constant rate and values the position at the average of entry and exit. Real payments usually use the mark price and the rate in force at each payment time.
• Fees are a flat percentage per side. Tiered fee schedules, discounts and rebates by volume are not modelled; enter the effective rate.
• Partial closes, adding to a position and slippage are not modelled. Use your actual average fill prices.
• Inverse contracts are not supported.

Treat the numbers as a planning and review aid and compare them with your venue’s own statement.

Futures PnL calculator FAQ

What is the difference between PnL and ROE?

PnL is the profit or loss in currency units. ROE (return on equity) divides net PnL by the initial margin you put up, so it shows the result relative to your own capital.

Why does leverage change ROE but not PnL?

PnL depends on position size and price move. Leverage only changes how much margin is locked for that size. The same position with less margin has the same PnL but a higher ROE, and a loss of the same size is a larger share of that margin.

How is funding calculated here?

The calculator multiplies the average of entry and exit notional by the funding rate and by the number of intervals you hold. In the usual convention a positive rate means longs pay shorts, and a negative rate means shorts pay longs. Real payments usually use the mark-price value and the rate at each payment time. For the background, read funding rates explained.

Why is the break-even price not equal to my entry price?

Fees on both sides and funding you pay are costs, so the price must move in your favour first. For a long the break-even sits above entry, for a short below it. Funding you receive moves it back toward entry.

Is the result realized or unrealized PnL?

The exit price is treated as the price at which you close, so the result estimates realized PnL. Open positions are usually shown as unrealized PnL based on the mark price.

Does this calculator include liquidation?

No. Maintenance margin and liquidation depend on the venue and the margin mode, and are not modelled. If a loss reaches your initial margin, the calculator adds a warning.