Value the open position before adding costs
For a simple linear long, gross unrealized price P&L is quantity multiplied by reference price minus entry price. For a linear short, the price difference is reversed. Check whether the display uses a last-traded price, mark price or another reference; they are not necessarily identical.
Bybit's USDT contract documentation distinguishes its default unrealized calculation from closed P&L and notes that the unrealized figure excludes trading and funding fees. This is a specific platform convention, not a universal definition for every exchange or portfolio application. Use the relevant documentation before comparing labels across services.
Follow a partial close through the quantities
Consider an illustrative long of 0.4 BTC bought at $50,000. A reference price of $55,000 gives $2,000 of gross unrealized price profit. Closing 0.1 BTC at $54,800 realizes $480 of gross price profit on that portion. The remaining 0.3 BTC still has $1,500 of unrealized price profit at the $55,000 reference.
The combined gross figure is $1,980 at that instant. It differs from the earlier $2,000 because the closed portion executed below the reference price. Trading costs and any funding must then be applied according to the records being measured. This example uses invented prices only to show the accounting relationship.
Reconcile the final result with actual cash flows
A completed trade's net result requires actual entry and exit fills, fees and relevant funding payments. Do not subtract a charge twice if it is already included in the reported realized result. Bybit's documentation also distinguishes closed-position reporting from a realized field that can accumulate fees and partial closes.
A profitable reference valuation does not reserve an exit price. A market order may consume several price levels, and the final average fill can differ from the displayed quote. Keep gross price movement separate from net trade proceeds, then distinguish both from account deposits, withdrawals and any later tax calculation.
Questions about this tool
Can realized P&L change while a position is still open?
Yes. A partial close can realize part of the position's price result, and a platform's realized field may also include trading fees and funding recorded while the remaining exposure is open.
Does increasing leverage increase the P&L of the same BTC quantity?
For the same linear contract quantity and the same price change, gross price P&L is unchanged. Changing leverage can alter the margin denominator and constraints, making a displayed percentage differ without changing that price result.