Overview
1. Why is the unrealized PnL of a perp futures position different from the unrealized PnL of copied orders?
2. Why does an order that shows a profit under Copied Orders on the copier's perp futures trading page show a loss in the perp futures Trade History page after it is closed?
3. Why is the ROI different between Trade History on the trader's homepage (order mode) and My Trades - Trade History?
Dear User,
Because the statistical methods for perp futures data and perp futures copy trading data differ, users may have questions about the inconsistent data shown in these two sections. We will elaborate on the inconsistency between the "Unrealized PnL" and "Trade History" data as below:
1. Why is the unrealized PnL of a perp futures position different from the unrealized PnL of copied orders?
Example 1: Copier A copies Trader B's BTC/USDT long position in perpetual futures copy trading.
Trading sequence |
Action |
Perp futures position page (position-based) |
Copied Orders page (order-based) |
1 |
Open a long position of 1 BTC at 20,000 USDT
BTC price is 20,000
|
Number of displayed orders: 1
Open price: 20,000 USDT
Position size: 1 BTC
Unrealized PnL: 0
|
Number of displayed orders: 1
Order 1:
Open price: 20,000 USDT
Position size: 1 BTC
|
2 |
Open a long position of 1 BTC at 25,000 USDT
BTC price is 25,000
|
Number of displayed orders: 1
Position entry price: (20,000 + 25,000) / 2
= 22,500
Position size: 2 BTC
Unrealized PnL: (25,000 - 22,500) * 2 = 5,000
|
Displayed orders: 2
Order 1:
Open price: 20,000 USDT
Position size: 1 BTC
Unrealized PnL: (25,000 - 20,000) * 1 = 5,000
Order 2:
Open price: 25,000 USDT
Position size: 1 BTC
Unrealized PnL: 0
|
3 |
Open a long position of 1 BTC at 30,000 USDT
BTC price is 30,000
|
Number of displayed orders: 1
Average open price of the position: (20,000 + 25,000 + 30,000) / 3 = 25,000
Position size: 3 BTC
Unrealized PnL: (30,000 - 25,000) * 3 = 15,000
|
Displayed orders: 3
Order 1:
Open price: 20,000 USDT
Position size: 1 BTC
Unrealized PnL: (30,000 - 20,000) * 1 = 10,000
Order 2:
Open price: 25,000 USDT
Position size: 1 BTC
Unrealized PnL: (30,000 - 25,000) * 1 = 5,000
Order 3:
Open price: 30,000 USDT
Position size: 1 BTC
Unrealized PnL: 0
|
4 |
Trader closes Order 1
BTC price is 30,000
|
The trader closes Order 1 (1 BTC)
Displayed orders after closing: 1
Average open price of the position: 25,000 USDT
Position size: 2 BTC
Unrealized PnL: (30,000 - 25,000) * 2 = 10,000
|
Trader closes Order 1
Displayed orders: 2
Order 2:
Open price: 25,000 USDT
Position size: 1 BTC
Unrealized PnL: (30,000 - 25,000) * 1 = 5,000
Order 3:
Open price: 30,000 USDT
Position size: 1 BTC
Unrealized PnL: 0
|
This is a matter of different data calculation mechanism and does not affect the actual PnL of your copy trading orders.
2. Why does an order that shows a profit under Copied Orders on the copier's perp futures trading page show a loss in the perp futures Trade History<0> page after it is closed?
This happens because the two sections use different profit calculations. Copied Orders shows profit at the order level. It calculates profit using the open price of the copied order, which does not change. Perp Futures Trade History shows profit at the position level. It calculates profit using the average open price, which can change.
Therefore, if the average position price in perp futures is worse than the open price in Copied Orders when closing the position, the order may show a profit under Copied Orders but a loss in Trade History. The order is actually profitable in this case.
Example 1: Copier A copies Trader B's BTC/USDT position in perpetual futures copy trading.
| Trading sequence | Action | Copied Orders page (order-based) | Perp futures position page (position-based) | Trade History page (position-based) |
| 1 | The copier copies the trader to open 1 BTC position at 20,000 USDT | Number of displayed orders: 1 Order 1: Open price: 20,000 USDT Position size: 1 BTC |
Number of displayed orders: 1 Order: Average open price: 20,000 USDT Position size: 1 BTC |
Number of displayed orders: 0 |
| 2 | The copier opens 1 BTC position at 25,000 USDT | Number of displayed orders: 1 Order 2: Open price: 25,000 USDT Position size: 1 BTC |
Number of displayed orders: 1 Order: Average open price: (20,000 + 25,000) / 2 = 22,500 USDT Position size: 2 BTC |
Number of displayed orders: 0 |
| 3 | The copier copies the trader to open 1 BTC position at 30,000 USDT | Number of displayed orders: 2 Order 1: Open price: 20,000 USDT Position size: 1 BTC Order 3: Open price: 30,000 USDT Position size: 1 BTC |
Number of displayed orders: 1 Order: Average open price: (20,000 + 25,000 + 30,000) / 3 = 25,000 USDT Position size: 3 BTC |
Number of displayed orders: 0 |
| 4 | The copier copies the trader to close Order 1 (1 BTC) at 25,000 USDT | Number of displayed orders: 1 Order 3: Open price: 30,000 USDT Position size: 1 BTC Closing Order 1 shows a profit of 5,000 USDT |
Number of orders displayed: 1 Order: Average open price: (25,000 + 30,000) / 2 = 27,500 USDT Position size: 2 BTC |
Number of displayed orders: 1 Fill price: 25,000 USDT Filled amount: 1 BTC Realized PnL: (25,000 - 27,500) * 1 = -2,500 USDT |
Example 2:
Assume copier A opens a long position of 1 BTC at an open price of 30,000 USDT.
Opens another long position of 1 BTC at an open price of 29,000 USDT.
Opens another long position of 1 BTC at an open price of 28,000 USDT.
At this time, the perp futures average position price is 29,000 USDT and the position size is 3 BTC.
Copier A closes the first order at a price of 31,000 USDT.
The realized PnL of the order is 1,000 USDT (order-based), while the realized PnL displayed under the Trade History tab in Perpetual Futures is 2,000 USDT (position-based).
Copier A closes the second order at a price of 30,000 USDT.
The realized PnL of the order is 1,000 USDT (order-based), while the realized PnL displayed under the Trade History tab in Perpetual Futures is 1,000 USDT (position-based).
Copier A closes the third order at a price of 29,000 USDT.
The realized PnL of the order is 1,000 USDT (order-based), while the realized PnL displayed under the Trade History tab in Perpetual Futures is 0 USDT (position-based).
In conclusion, after closing all the orders, the realized PnL for the copied orders is 3,000 USDT, and the total realized PnL of the copied orders displayed under the Trade History in Perpetual Futures is also 3,000 USDT. The discrepancy in the display is due to their different calculation methods but does not affect the actual PnL.
3. Why is the ROI different between Trade History on the trader's homepage and My Trades - Trade History?
In fixed amount mode, the copier's copied order closes only after the trader's order is fully closed. The trader has the option to close the order with multiple trades, and the close price of that order is determined by the average close price of the multiple closing trades.
Now the ROI of this order is:
ROI (long) = (Average close price - Open price) / Open price
ROI (short) = (Open price - Average close price) / Open price
Example:
After the trader opens 1 BTC long position at 20,000 USDT:
The trader closes 0.3 BTC long position at 21,000 USDT.
The trader closes another 0.3 BTC long position at 22,000 USDT.
The trader closes the remaining 0.4 BTC long position at 23,000 USDT.
In this case, the average close price of the trader's order is calculated as follows: (0.3 * 21,000 + 0.3 * 22,000 + 0.4 * 23,000) / 1 = 22,100 USDT
ROI = (22,100 - 20,000) / 20,000 = 10.5%
The copier's copy trading order will be closed once the trader's order is fully closed, with a ROI of (23,000 - 20,000) / 20,000 = 15%.
We recommend that traders close positions from the Copied Orders page to effectively avoid ROI inconsistencies between traders and copiers.
