How PnL works in X-Perps?

Note: this article is for verified users trading X-Perps in the EEA region.

This article explains how PnL (profit and loss) works in X-Perps, so you can understand what your account is showing and why your net result may differ from the raw price move. In X-Perps trading, PnL (profit and loss) is commonly shown in two forms: unrealized PnL and realized PnL.

What's unrealized PnL in X-Perps?

Unrealized PnL is the gain or loss in an open position based on current pricing. It is “unrealized” because the position is still open — the result can continue to change until you close.

On OKX, unrealized PnL for X-Perps is calculated using the mark price, not the last traded price. The mark price is also used in liquidation logic.

This means unrealized losses are not just a display value — they directly affect your position risk. If unrealized losses increase and the mark price moves closer to your liquidation price, your margin buffer may shrink. In that case, you may need to add margin (where supported) or reduce your position to lower risk. If you take no action, the position may be liquidated under platform risk rules.

What's realized PnL in X-Perps?

Realized PnL is the gain or loss that becomes final when a position (or part of a position) is closed.

Why does my X-Perps net result differ from the "price move"?

Your net result can be affected by more than the difference between entry and exit price. It may also include:

• trading fees

• funding payments

• partial closes and execution timing

What should I check in the app to understand my X-Perps PnL?

When reviewing your performance, look at both your position-level PnL and your transaction history and fee details. This helps you understand whether a result came mainly from price movement, fees, or funding effects.

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