Gross PnL from price only — before trading fees, slippage, and funding, which reduce your net result. Educational, not financial advice.
How it works
Profit is the price move times your size — positive when a long exits higher or a short exits lower. Return on position measures that against the full notional; ROI on margin measures it against the capital you actually posted, which is where leverage amplifies the percentage. The same dollar move is a small return on notional but a large one on a thin margin — the double edge of leveraged perpetuals.
Worked example. Long 10 units from an entry of 100 to an exit of 120: profit is (120 − 100) × 10 = $200. Against the $1,000 notional that is a +20% return on position. But at 10× leverage you only posted $100 of margin, so the ROI on margin is +200%. Flip to a short and exit at 80 for the same $200 — and remember a 20% move the wrong way at 10× would wipe the margin entirely. Profit scales with the move and the size; leverage only rescales the percentage.
FAQ
How do you calculate profit on a crypto trade?
For a long, profit is (exit price − entry price) × quantity; for a short, it is (entry price − exit price) × quantity. Divide by your margin to get return on margin, which leverage amplifies in both directions.
What is ROI on margin?
Return on the capital you actually posted. With leverage, your margin is the notional divided by leverage, so a small price move becomes a large percentage gain or loss on margin — the reason leveraged trades cut both ways.
Does this include fees and funding?
No. This is gross PnL from price only. Trading fees, slippage, and funding payments reduce your net result — use the funding calculator to estimate the holding cost of a perpetual.
How is profit on a short position calculated?
A short profits when price falls: profit is (entry price − exit price) × quantity. Sell at 100 and cover at 90 on 10 units and you make (100 − 90) × 10 = $100. If price rises instead, the same formula returns a loss. Set the side to Short above and the calculator handles the sign for you.
Does higher leverage increase profit?
Leverage does not change the dollar profit from a price move — that depends only on your size and the move. What it changes is the return on margin: the same dollar gain is a larger percentage of the smaller margin a high-leverage position posts. It cuts identically on the downside, which is why leverage amplifies ROI in both directions without adding a cent of edge.
Learn the concepts
Gross PnL is arithmetic; a net edge is harder. Understand how perpetual futures and leverage work, price the funding that erodes a slow position, and learn to read the order flow behind a move so your entries and exits aren’t guesses. Then watch it live across 300+ markets on the Hyperliquid scanner.