bitpontPerps Position Size, Leverage and PnL — Worked Examples
Calculate exposure and distinguish price movement from the account’s full result.
Updated 27 October 2026
Quantity creates notional exposure
At a hypothetical SOL price of $100, a position of 0.5 SOL has $50 of notional exposure: 0.5 × $100. This arithmetic is an illustration, not a market quote or recommended size. Read the contract’s actual quantity convention and minimums in the terminal.
Price movement is only one part of PnL
If that hypothetical long changes from $100 to $102, its simple price-movement component is 0.5 × ($102 − $100) = $1. A same-sized short would have −$1 from that movement. Fees, funding, fills, settlement and other adjustments can make the account result different.
Account leverage differs from a ticket setting
In a simplified account with $10 equity and $50 exposure, exposure divided by equity is 5×. The live account can have multiple positions and protocol-specific valuation rules. The ticket’s sizing control helps choose quantity; it is not a promise of isolated margin or a fixed future leverage ratio.
Free collateral is not a spending target
Initial margin requirements, open orders and the rest of the subaccount affect free collateral. A change in another market can alter the available margin. Using every available unit leaves less room for losses and costs. This guide explains the fields and does not choose a personal risk budget.
A stop is not a fixed maximum loss
A trigger can activate under fast movement or thin liquidity and execute at a different price. Network or service outages can prevent timely actions. Cross-margin liquidation depends on maintenance requirements and the full account, so entry price minus 1/leverage is not a reliable liquidation formula.
Verify a reduction
A reduce-only order for 0.2 SOL against a 0.5-SOL position would leave 0.3 SOL if it fills completely and no other fills intervene. Verify the actual remaining quantity and open orders. Settling PnL does not perform this reduction.