Understanding Position Metrics
Open Interest
Open interest represents the total number of outstanding contracts that have not been settled.
Unrealized Profit & Loss (PnL)
Unrealized PnL reflects the profit or loss of active positions before closing. Key details:
- Settled daily at 4 PM (UTC+8), transferring to your balance.
- Resets to zero after settlement and recalculates.
- Converts to realized PnL upon closing the position.
Calculation Methods by Contract Type
USDT-Margined Contracts
- Long Position:
Unrealized PnL = (Contract Face Value × Mark Price – Contract Face Value × Settlement Price) × Position Size
Example: Buying 600 BTC contracts at $500 (settlement price) with a $600 mark price yields $6 unrealized PnL. - Short Position:
Unrealized PnL = (Contract Face Value × Settlement Price – Contract Face Value × Mark Price) × Position Size
Example: Selling 1,000 BTC contracts at $1,000 (settlement price) with a $500 mark price yields $50 unrealized PnL.
Coin-Margined Contracts
- Long Position:
Unrealized PnL = (Contract Value / Settlement Price – Contract Value / Mark Price) × Position Size
Example: Buying 6 BTC contracts at $500 settlement price with a $600 mark price yields 0.2 BTC unrealized PnL. - Short Position:
Unrealized PnL = (Contract Value / Mark Price – Contract Value / Settlement Price) × Position Size
Example: Selling 6 BTC contracts at $500 settlement price with a $400 mark price yields 0.3 BTC unrealized PnL.
Maintenance Margin Rate
The minimum margin ratio required to keep a position open. Liquidation occurs when: Margin Ratio ≤ Maintenance Margin Rate + Liquidation Fee Rate
- Isolated Margin: Calculated per position/direction.
- Cross Margin: Aggregates all positions in a contract.
Example: Holding 10,000 long and 15,000 short BTCUSDT contracts calculates as 25,000 total contracts for margin purposes.
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FAQ
How often is unrealized PnL settled?
Daily at 4 PM (UTC+8), transferring to your account balance.
What triggers a forced liquidation?
When your margin ratio drops below the maintenance margin rate plus liquidation fees.
Can I view all my positions in one place?
Yes. Navigate to "All Positions" to see active contracts for each trading pair (e.g., BTCUSD weekly, quarterly).