Inverse Perpetual PnL

Coin-margined BTC futures. Contracts are quoted in USD and settled in BTC.

Entry Price

USD

Exit Price

USD

Quantity

Leverage (for ROI)

x

Inverse math: PnL(BTC) = Notional USD × (1/Entry − 1/Exit) for long, reversed for short. PnL(USD) = PnL(BTC) × Exit. If quantity is in BTC, notional = Qty × Entry. ROI = PnL(BTC) / margin, where margin = Notional / (Entry × Leverage).