What does PnL mean in futures trading?

PnL means profit and loss. For linear futures it is primarily determined by the difference between entry and exit multiplied by position size, adjusted for costs.

What is the difference between ROI and ROE here?

ROI compares net PnL with position notional, while ROE compares it with modeled margin. Leverage therefore has a much larger effect on ROE.

Are funding payments included?

Yes, as an optional signed cash adjustment: positive when received and negative when paid. This avoids assuming a universal funding rate or interval.

FUTURES • PNL • FEES

Futures PnL Calculator

Calculate gross and net PnL, break-even, ROI and ROE for a leveraged futures position.

NET PNL$0

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Gross PnL$0

Estimated fees$0

Slippage allowance$0

Funding adjustment$0

Net trading costs$0

Break-even price—

Initial margin$0

ROI on notional—

ROE on margin—

Price move—

Risk / Reward—

Trade outcome map

Entry, break-even, target and optional stop on one price scale.

What this result means

Separate price movement, fees and leverage before judging the result.

PNLPrice move × position size

Before fees, futures PnL comes from the distance between entry and exit multiplied by position size. Leverage does not multiply that PnL for a fixed position size.

LEVERAGEChanges margin and ROE

Higher leverage lowers initial margin, so the same net PnL produces a larger ROE — along with a smaller buffer to liquidation.

How it is calculated

Simplified linear futures math with entry and exit trading fees.

LongGross PnL = (Exit − Entry) × Units

ShortGross PnL = (Entry − Exit) × Units

NetNet PnL = Gross PnL − fees − slippage + funding received (or − funding paid)

ROEROE = Net PnL ÷ Initial margin

This model excludes funding, slippage, spread, liquidation charges, maker/taker tier changes and non-linear contract mechanics.

CONNECTED WORKFLOW

Complete the trade analysis without starting over.

Position size defines exposure, liquidation maps the boundary, and PnL evaluates a price outcome.

Position SizeDefine risk and size

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Liquidation PriceMap the risk boundary

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Futures PnLEvaluate the outcome

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Risk of RuinStress-test repeated risk

Important:This is a scenario calculator, not an exchange settlement engine. Actual PnL can differ because of funding, slippage, spread, contract specifications, fee tiers and liquidation mechanics. Informational tool only — not financial advice.

Method, example and assumptions

Example: Long from $100 to $110 with 1 unit, 0.05% entry/exit fees and 0.02% slippage per side produces $10 gross and approximately $9.85 net PnL before funding.

Scope: linear USD-margined contracts. Funding is a signed cash adjustment because its rate, intervals and direction vary by venue and holding period. Risk/reward appears only for a profitable target with a valid modeled stop loss.

Reviewed August 21, 2026. References: OKX futures PnL rules and OKX perpetual funding guide.