PnL Calculator
Calculate profit and loss for Hyperliquid perpetual trades. Estimate PnL, ROE, and fees before entering a position.
Understanding PnL on Perps
PnL (Profit and Loss) on perpetual futures is calculated based on the price difference between your entry and exit, multiplied by your position size. On Hyperliquid, all PnL is settled in USDC.
For long positions, you profit when the price goes up. Your PnL equals the position size multiplied by the percentage price change. For short positions, you profit when the price goes down — the formula is reversed.
Trading fees reduce your net PnL. Hyperliquid charges 0.05% per side for taker (market) orders, meaning you pay fees on both opening and closing. For a $10,000 position, total fees are $10 (0.1% round-trip). Maker orders are cheaper at 0.025% per side.
ROE vs ROI
ROE (Return on Equity) measures your profit relative to the margin you posted — the actual capital locked in the trade. ROI (Return on Investment) measures profit relative to the total position size.
With leverage, these two metrics diverge significantly. A $1,000 position at 10x leverage requires only $100 in margin. If you make $50 profit, your ROI is 5% (50/1000) but your ROE is 50% (50/100). ROE reflects the actual return on the capital you put at risk.
Most perpetual trading interfaces, including Hyperliquid, display ROE because it reflects the true efficiency of your capital. However, high ROE can be misleading — a 500% ROE at 50x leverage only requires a 10% price move, which also means a 10% adverse move liquidates you.