PnL & Breakeven Calculator
What the trade actually made after fees and funding — and where breakeven really is.
Trade
Standard fee rates applied.
For a position you still hold, put the current mark price in as the exit.
Costs (all editable)
Both fee fields default to the taker rate. If you entered with a limit order that rested, put your maker rate in the entry field.
Result
E3 · Modelled Estimate
Calculation and assumptions
Educational tool, not investment advice.
A worked example
A long that moved $1,000 in the right direction, priced honestly. Gross and net are kept apart because the gap between them is where a lot of accounts quietly go.
What goes in
- Side
- Long
- Entry fill
- 0.1 BTC at $60,000
- Exit / mark price
- $61,000
- Leverage
- 10x
- Fees
- 0.05% in, 0.05% out
- Funding paid
- $0
What comes out
- Gross PnL
- +$100.00
- Fees and funding
- $6.05
- Net PnL
- +$93.95
- ROE on initial margin
- 15.65%
- ROI on notional
- 1.56%
- Breakeven exit
- $60,060.04
The price moved 1.67% and the account gained 15.65%. Both figures are true and they measure different things: ROE divides by the $600 of margin the position tied up, ROI divides by the $6,000 the position controlled. A screenshot showing a big ROE is showing the first one, which says as much about the leverage as about the trade.
Breakeven is $60,060.04, not $60,000. Getting in cost a fee and getting out will cost another, so the price has to travel far enough to pay for both before anything is yours. Every trade starts underwater by the width of its own costs.
That gap is what makes small, frequent trades hard. Enter at $60,000 and exit at $60,010 — a move in your favour — and this tool reports a loss, because $6 of fees swallowed $1 of gain. It says so in as many words rather than showing a red number with no explanation.
What each field means
- Entry fills
- One row per fill. Several rows are averaged by quantity, which is the same weighted average the Average Entry tool produces.
- Exit / mark price
- Where the position closed, or the current mark price if it is still open. In the second case the result is unrealised — real until it isn't.
- Leverage
- Only used to work out the initial margin, which is what ROE is measured against.
- Entry fee and exit fee
- Separate on purpose. A limit entry that rested may have paid the maker rate while the exit paid taker.
- Funding paid
- Positive if funding cost you, negative if you received it. The Funding Cost tool works out the figure and can send it here.
Common questions
Why is my breakeven price above my entry?
Because you paid to get in and will pay to get out. Until the price has moved far enough to cover both fees, closing the trade loses money even though the direction was right. On a 0.05% taker fee each way, that gap is roughly 0.1% of the price before funding — which is more than many short-term trades ever make.
What is the difference between ROE and ROI here?
ROE divides your profit by the margin the position tied up; ROI divides it by the position's notional value. They differ by exactly the leverage. A 10x position that gains 1.5% of its notional shows about 15% ROE — the same trade, described against a smaller denominator.
The price went my way but the tool says I lost money. Is that right?
Yes, and it is worth sitting with. Fees are charged on the full notional, not on your profit, so a small favourable move can easily be smaller than the cost of making it. The tool flags this case explicitly because it is the most common way an account bleeds out while the trader remembers being right.
Does this include funding?
Only what you enter. Funding is charged at settlement timestamps rather than continuously, so it is not something a PnL tool can infer from a holding period. Work it out in the Funding Cost tool and send the figure here.
Can I model a partial exit?
Scaled exits are handled in the Stop-Loss & Risk/Reward tool, where each target closes a stated share of the position and the reward is the weighted average across them. Here, several entry fills are averaged and the whole position is treated as closing at one exit price.