BRVX Glossary · PnL (profit and loss) · Updated September 24, 2026
PnL, short for profit and loss, is the result of a trade in money terms. Unrealised PnL is the paper result of a position that is still open; realised PnL is the result locked in when the position is closed, after fees and funding.
The formula
Long PnL Size × (Exit − Entry) ÷ Entry Short PnL Size × (Entry − Exit) ÷ Entry
Unrealised while the position is open; realised once it is closed, after fees and funding.
How it works
- Entry Price in
- Price moves Unrealised PnL
- Close Realised PnL
Try it on TSLA/USDT
Live TSLA/USDT tariff. Simplified estimate: opening fee included, closing fee and funding not.
PnL at this move +22.5 USDT
- On your margin
- +15%
- Position size
- 750 USDT
- Move against you to liquidation
- 15.91%
Leverage works both ways: a small move against you can lose you the whole margin.
On this page
The formula
Long PnL = (exit price − entry price) ÷ entry price × position size. Short PnL = (entry price − exit price) ÷ entry price × position size. Net PnL = gross PnL − opening fee − closing fee − funding paid (+ funding received).
Worked example on BRVX
A 100 USDT margin at 10x opens a 1,000 USDT long on SOL/USDT. SOL rises 5% and the position is closed after 24 hours.
- Gross PnL: 5% × 1,000 = 50 USDT.
- Fees: 0.8 USDT to open and 0.8 USDT to close.
- Funding for 24 hours at the current long rate: about 3.84 USDT.
- The rest is realised PnL, measured against the 100 USDT margin.
PnL vs return on margin
PnL is an amount; return on margin is that amount divided by the margin used. On leveraged positions the second number is much larger than the price move — which is exactly why the same leverage magnifies losses by the same factor.
Questions about PnL (profit and loss)
What is unrealised PnL?
The profit or loss of a position that is still open, valued at the current reference price. It becomes realised when the position is closed.
Does PnL include fees?
Net PnL does. Many screens show gross PnL for open positions and deduct fees and funding when the position is closed.
Why is my PnL negative right after opening?
Because the opening fee, and on some venues the spread, is paid immediately.
PnL (profit and loss): next steps on BRVX
PnL (profit and loss) on TSLA/USDT: pick 5x to 50x, 25x by default, margin in 6 tokens. At 50x, a 1% move is 50% of margin.
Read next: Long and short positions, Mark price and Notional value.
Leverage works both ways: a small move against you can lose you the whole margin.
Open TSLA/USDT in the app
Open appLeverage raises both gains and losses. Start with a size you are comfortable with. Not available to US persons.