Positions & P&L
How positions work, how profit and loss is calculated, and how to close a position.
Positions
When your order is filled, you hold a position. Positions are either:
- Long (positive) — you profit when the resolution value is higher than your entry price.
- Short (negative) — you profit when the resolution value is lower than your entry price.
Your position size represents how many contracts you hold. Each contract is worth up to $10. All positions are recorded onchain.
P&L Calculation
Your profit or loss is straightforward:
- Long P&L = resolution value − entry price
- Short P&L = ($10 − resolution value) − entry price
For example, if you buy Long at $4.00 and the market resolves at $7.00, your profit is $3.00 per contract.
Closing a Position
You don't need to wait for resolution to exit. To close a position, take the opposite side:
- Holding Long? Sell (go Short) the same size.
- Holding Short? Buy (go Long) the same size.
When Long and Short positions net against each other, your $10 collateral is returned immediately. This is automatic — no manual action needed beyond placing the closing trade.
Unrealized vs Realized P&L
- Unrealized P&L — based on the current market price. Changes as the market moves.
- Realized P&L — locked in when you close a position or when the market resolves.