# Crypto PnL Calculator > A leveraged PnL calculator turns a price move into a cash result and a return on the margin actually committed. Notional is margin × leverage; profit is notional × the percentage price move, minus the fee charged on notional at both open and close. The distinction that matters is return on equity versus return on notional: at 10× leverage a 4.6% price move is a 46% account move, which is why the same trade looks modest on the chart and decisive in the balance. Canonical HTML page: https://qanterion.com/tools/crypto-pnl-calculator Updated: 2026-08-18 ## The formula ``` Notional = Margin × Leverage Move % = (Exit − Entry) ÷ Entry × 100 Fees = Notional × Fee % × 2 (open + close) Long PnL = Notional × Move % − Fees Short PnL = −Notional × Move % − Fees ROE = PnL ÷ Margin × 100 Funding payments are not included; see the funding rate calculator. ``` ## Worked example (the page defaults) - Margin committed: 1000 USDT - Leverage: 10 × - Entry price: 65000 USDT - Exit price: 68000 USDT - Fee per side: 0.05 % Result: - Long PnL (net): 451.54 - Long return on equity: 45.15% - Short PnL (net): -471.54 - Short return on equity: -47.15% - Notional position value: 10000 - Round-trip fees: 10 - Price move: 4.62% ## How to use it 1. Enter the margin you are committing to the position — the money at risk, not the notional it controls. 2. Enter the leverage, then the entry and exit prices you want to evaluate. 3. Enter your per-side fee rate; use the taker rate if your orders cross the spread. 4. Read return on equity, then check the fee line against the PnL before concluding the trade is worth taking. ## Return on equity is the number that decides survival Leverage does not change the market, it changes the denominator. A position with $1,000 of margin at 10× controls $10,000 of notional, so every 1% of price movement is 10% of the money you actually put up. That is symmetric and it is the whole mechanism: the same multiple that makes a 4.6% rally into a 46% gain makes a 4.6% dip into a 46% loss, and at roughly 9.5% adverse movement the position is gone entirely. Reading PnL as a percentage of notional makes leveraged trading look calm; reading it against margin shows what is actually happening to the account. ## Why fees scale with leverage Trading fees are charged on notional, not on margin — which means raising leverage raises the fee bill in exact proportion while the capital at risk stays the same. At 10× with 0.05% per side, a round trip costs 1% of margin before the market has moved at all. Run that strategy twenty times a month and fees alone consume 20% of the account annually at a pace that no equity curve advertises. Any strategy operating on thin per-trade edges has to be evaluated after this line, not before it. ## Frequently asked ### Does this include funding payments? No. Perpetual funding accrues per interval while a position is open and is independent of the price move, so it is calculated separately — use the funding rate calculator and add the two figures for a full holding-period result. ### Why are long and short results not mirror images? The price component is symmetric, but fees are not: they are charged in both directions regardless of which side you took. A short and a long on the same move therefore differ by twice the fee, which is why a trade that is marginally profitable one way can be a loss the other. ### What fee rate should I enter? Use your actual taker rate unless your orders reliably rest on the book, in which case use the maker rate. Perpetual taker fees commonly sit at 0.04%–0.06%; volume tiers and fee tokens lower them. Entering the optimistic maker rate for a strategy that crosses the spread is the most common way a backtest ends up unreachable in practice. ## Related tools and reading - Liquidation Price Calculator: https://qanterion.com/tools/liquidation-price-calculator - Funding Rate Calculator: https://qanterion.com/tools/funding-rate-calculator - Position Size Calculator: https://qanterion.com/tools/position-size-calculator - Maker and taker fees: https://qanterion.com/glossary/maker-taker-fees - Quant Trading Glossary: https://qanterion.com/glossary - Crypto paper trading: https://qanterion.com/paper-trading ## Sources - [Futures PnL calculation rules](https://www.okx.com/help/futures-pnl-calculation-rules) — OKX - [PS19/18: Restricting contract for difference products sold to retail clients](https://www.fca.org.uk/publication/policy/ps19-18.pdf) — Financial Conduct Authority (FCA) - [ESMA agrees to prohibit binary options and restrict CFDs to protect retail investors](https://www.esma.europa.eu/press-news/esma-news/esma-agrees-prohibit-binary-options-and-restrict-cfds-protect-retail-investors) — European Securities and Markets Authority (ESMA) ## Other languages - 简体中文: https://qanterion.com/zh/tools/crypto-pnl-calculator - 繁體中文（台灣）: https://qanterion.com/zh-TW/tools/crypto-pnl-calculator - 繁體中文（香港）: https://qanterion.com/zh-HK/tools/crypto-pnl-calculator - 日本語: https://qanterion.com/ja/tools/crypto-pnl-calculator - 한국어: https://qanterion.com/ko/tools/crypto-pnl-calculator - Português (Brasil): https://qanterion.com/pt-BR/tools/crypto-pnl-calculator - Türkçe: https://qanterion.com/tr/tools/crypto-pnl-calculator - Bahasa Indonesia: https://qanterion.com/id/tools/crypto-pnl-calculator - العربية: https://qanterion.com/ar/tools/crypto-pnl-calculator ## Machine-readable resources - Product facts: https://qanterion.com/llms.txt - Full knowledge base: https://qanterion.com/llms-full.txt - All calculators: https://qanterion.com/tools ## Risk notice Educational calculator. Outputs describe arithmetic under the assumptions you enter — they are not a forecast, a recommendation, or investment advice. Quantitative trading can lose money.