How to Calculate Crypto Profit and Loss

Long Position PnL

For a long position, profit comes from selling higher than you bought. The gross formula is:

Long PnL = (Exit Price - Entry Price) x Quantity

If you buy 0.5 BTC at $60,000 and sell at $66,000, the gross PnL is ($66,000 - $60,000) x 0.5 = $3,000.

Calculate Net PnL

Enter entry, exit, quantity, leverage, and fees to estimate net profit or loss.

Open PnL Calculator

Short Position PnL

For a short position, profit comes from price falling after entry. The gross formula is reversed:

Short PnL = (Entry Price - Exit Price) x Quantity

If you short 1 ETH at $3,500 and close at $3,200, the gross PnL is ($3,500 - $3,200) x 1 = $300.

Net PnL After Fees

Gross PnL is not what you keep. Net PnL subtracts all costs:

Net PnL = Gross PnL - Entry Fee - Exit Fee - Funding - Slippage

For small trades, the difference may be minor. For scalping, grid trading, high leverage, or frequent rebalancing, fees can turn a profitable-looking strategy into a losing one.

Leverage and Return on Equity

Leverage increases position size relative to your margin. It does not change the market move, but it changes your return on equity and liquidation risk. A 5% price move on a 5x leveraged position is roughly a 25% move on margin before fees and funding.

Always pair PnL math with liquidation math. Use the Liquidation Calculator to check how much adverse movement your position can survive.

Break-Even Price

Your break-even is the exit price where net PnL is zero after fees. For a long, break-even is above entry. For a short, break-even is below entry. The more fees and funding you pay, the farther the market must move just to get you flat.

Before opening a trade, calculate the target profit, break-even, and worst-case loss. Then size the position with the Position Size Calculator.

Frequently Asked Questions

What is the basic crypto PnL formula?

For a long position, gross PnL is exit value minus entry value. For a short position, gross PnL is entry value minus exit value.

Should fees be included in PnL?

Yes. Net PnL subtracts entry fees, exit fees, spread, slippage, and any funding costs from gross PnL.

Does leverage change PnL?

Leverage does not change the price move itself, but it increases position size relative to your margin. That magnifies return on equity and liquidation risk.

What is break-even price after fees?

Break-even is the exit price where gross profit equals all trading costs. It is higher than entry for longs and lower than entry for shorts once fees are included.