Crypto Futures PnL Calculator: ROE & Target Price

Crypto Futures PnL Calculator

Calculate the profit or loss of a crypto futures trade, its ROE (return on the margin you put up) and the fees, for a long or a short. It also works backwards: enter a target ROE to get the exit price you need.

A 10x long of 0.1183 BTC from $84,534.90 to $88,761.60 makes $489.77 after fees: +48.97% ROE on $1,000.05 of margin.

BTC price: Binance perp, liveAs of 17:59 UTC

Your position

USDT perps, isolated margin

Result

Link to this calculation

Net PnL: $489.77
ROE: +48.97%
Gross PnL: $500.02
Fees (open + close): $10.25
Initial margin: $1,000.05
Position value: $10,000.48
Price move: +5.00%
Exit price for target ROE: $88,848.34

Estimate: These are estimates. Exchanges use tiered maintenance margin (bigger positions need more), liquidate on the mark price rather than the last trade, and handle fees and cross margin their own way. Check your exchange's position screen before you trade.

Worked example

BTC long, the numbers above

You buy 0.1183 BTC at $84,534.90: a $10,000.48 position. At 10x the initial margin is $10,000.48 ÷ 10 = $1,000.05.
Gross PnL = (exit − entry) × quantity = $500.02 for a close at $88,761.60 (+5.00%).
Fees = 0.05% × (entry value + exit value) = $10.25, so net PnL is $489.77.
ROE = net PnL ÷ initial margin = $489.77 ÷ $1,000.05 = +48.97%. Leverage multiplies the price move: +5.00% × 10 before fees.
To make +50.00% ROE after fees you would close at $88,848.34.

The formula

Long PnL = (Exit − Entry) × Quantity − fees · Short PnL = (Entry − Exit) × Quantity − fees

Fees = fee rate × (Entry × Quantity + Exit × Quantity) · ROE = PnL ÷ (Entry × Quantity ÷ Leverage)

Target price (long) = Entry × (1 + fee + ROE/Leverage) ÷ (1 − fee) · (short) = Entry × (1 − fee − ROE/Leverage) ÷ (1 + fee)

PnL is the price difference times the coins you hold, less the trading fee on the way in and out. ROE compares that with the margin you put up, which is why leverage multiplies it. Funding payments are not included.

Crypto Futures PnL Calculator FAQ

How is futures PnL calculated?

For a long, PnL = (exit − entry) × quantity; for a short, (entry − exit) × quantity. Fees are charged on the value of both the opening and the closing trade and come off the result.

What is ROE?

Return on equity: net PnL divided by the initial margin (position value ÷ leverage). Leverage multiplies it: a 2% price move at 10x is about 20% ROE before fees.

How is the target price worked out?

It solves the PnL formula for the exit price that gives your target ROE after fees. A negative target ROE gives a stop-loss price for that loss on margin.

Does funding count?

No. Perpetual futures also pay or charge funding every few hours while the position is open; add it separately for trades held a long time.