Inverse Contract PnL Calculator
Coin-margined profit and loss for BTC and ETH inverse contracts, settled in the underlying coin.
Live BTC reference: $82,041.10 USD per coin (Binance perp). This is a reference, not an execution quote. Use reference as entry
Your position
Coin settlement, USD face valueResult
BTC and US dollars- Net coin PnL
- Net US dollar equivalent at exit
- Gross coin PnL
- Coin trading fees
- Initial coin margin
- Net ROE on initial coin margin
Estimate: Funding excluded. All prices and fee fractions are assumptions, not execution quotes. The USD amount values the coin PnL at your exit price; settlement remains in BTC. Actual fills, liquidation, margin rules and exchange rounding can change the result.
Inverse PnL formula
Q is USD face notional, E is entry price, X is exit price and L is leverage. Multiply your contract count by your venue's USD contract multiplier to obtain Q; a contract is not necessarily worth $1.
Gross coin PnL = sign × Q × (1/E − 1/X), where sign is +1 for long and −1 for short.
Coin fees = Q × fee_open / E + Q × fee_close / X
Net coin = gross coin − coin fees; Net USD equivalent at exit = net coin × X
Initial coin margin = Q / (E × L); Net ROE (%) = net coin / initial coin margin × 100
Inverse contracts use reciprocal prices because a fixed USD face value represents fewer coins as the price rises. Leverage changes initial margin and ROE, not the coin PnL for a fixed Q. Fee fractions run from 0 to 1; 0.0005 means 0.05%. Price and notional bounds are 0.00000001 to 1 trillion; leverage is capped at 1,000× for this estimator, not as a venue limit.
Worked example
Fixed BTC example, zero fees- A long with $10,000 USD face notional, $100,000 entry and $110,000 exit earns 10,000 × (1/100,000 − 1/110,000) = 0.009090909 BTC gross and net.
- At exit, that coin profit is equivalent to $1,000 USD. Initial margin at 10× is 0.01 BTC, so net ROE is 90.90909%.
- A short reverses the gross sign. At equal entry and exit prices gross PnL is zero, but trading fees make net PnL negative.