Understanding PnL

Unrealized vs realized PnL in perpetual trading — how each is calculated and how the mark price drives your unrealized PnL.

PnL (Profit and Loss) measures how much you've gained or lost on a position. In perpetual trading there are two types: Unrealized and Realized.

Unrealized and realized PnL shown on a position

Unrealized PnL (uPnL)

The current gain or loss on an open position. It updates in real time as the market moves and affects your account equity and liquidation risk — but isn't locked in until you close.

• Long: uPnL = (Current Mark Price − Entry Price) × Position Quantity

• Short: uPnL = (Entry Price − Current Mark Price) × Position Quantity

Long example: entry 2,000, mark 2,200, size 1 ETH → (2,200 − 2,000) × 1 = +200 USDT. Short example: entry 2,000, mark 1,800, size 1 ETH → (2,000 − 1,800) × 1 = +200 USDT.

Yellow.pro uses the Mark Price (not the last traded price) to calculate uPnL, which protects against price manipulation. See Liquidation & Mark Price.

Realized PnL

The profit or loss locked in when you close a position fully or partially. Once realized, it becomes part of your balance and no longer changes with the market. Triggered by closing a position or by liquidation. Trading fees are deducted from realized PnL, so your net may be slightly less than the gross calculation.

PnL and Your Account Balance

Component	What it includes
Total Balance	All funds + unrealized PnL
Available Balance	Funds not committed to open positions
Unrealized PnL	Changes constantly with the market
Realized PnL	Fixed after a position is closed

If your unrealized PnL is negative, your Total Balance appears lower than your deposited funds — this is normal; the loss is only confirmed when you close.

My position shows a profit but my available balance is low — why?

Open positions tie up allocated margin and any open orders lock funds, reducing available balance. Unrealized PnL does adjust available balance (profit raises it, loss lowers it), but the collateral keeping positions open isn't free to use until you reduce or close them.

Related Articles

• Long, Short & Hedge Mode

• Liquidation & Mark Price

• Position Management