Can you provide a step-by-step guide on how to calculate PNL on BitMEX?

3 answers

• Nov 27, 2021 · 3 years ago
  Sure! Calculating PNL on BitMEX involves a few key steps. First, you need to determine the entry price and quantity of your position. Then, you'll need to calculate the exit price and quantity when you close the position. Next, subtract the entry price from the exit price to get the profit or loss per contract. Finally, multiply the profit or loss per contract by the quantity of contracts to get your total PNL. It's important to note that BitMEX uses a mark-to-market system, so your PNL is realized in real-time as the market moves. I hope this helps!
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• Nov 27, 2021 · 3 years ago
  Absolutely! Calculating PNL on BitMEX can be a bit complex, but I'll break it down for you. First, you'll need to determine the entry price and quantity of your position. Then, when you close the position, calculate the exit price and quantity. Subtract the entry price from the exit price to get the profit or loss per contract. Finally, multiply the profit or loss per contract by the quantity of contracts to get your total PNL. Keep in mind that BitMEX offers leverage, so your PNL can be magnified. Make sure to double-check your calculations and consider the impact of fees. Happy trading!
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• Nov 27, 2021 · 3 years ago
  Sure thing! Calculating PNL on BitMEX is an essential skill for traders. First, determine the entry price and quantity of your position. When you close the position, calculate the exit price and quantity. Subtract the entry price from the exit price to find the profit or loss per contract. Multiply the profit or loss per contract by the quantity of contracts to get your total PNL. Remember, PNL is calculated in the quote currency of the contract. If you're looking for a user-friendly platform to track your trades and calculate PNL automatically, you might consider using BYDFi. It offers a comprehensive suite of tools for cryptocurrency traders. Good luck!
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