PnL & equity

Your score for an epoch is your return: how far your equity is from the $1,000 you started with.

Position PnL

A position of margin M at leverage L opened at entry E holds a quantity of M × L ÷ E coins. At mark P:

long PnL  = quantity × (P − E)
short PnL = quantity × (E − P)

The loss is capped at the margin (see Liquidation): a position is never worth less than zero.

Unrealized PnL is what an open position would make if it closed at the current mark. It moves with every price.
Realized PnL is locked in when you close (all or part) or get liquidated. The released margin plus the realized PnL goes back to your balance.

equity = available balance
       + margin reserved by pending orders
       + Σ (margin + unrealized PnL) of open positions

Equity is what the leaderboard ranks on, live during the epoch and final at settlement, when every position is closed at the mark.

return = (equity − $1,000) ÷ $1,000

A +25% return means equity of 1.25 × $1,000. The reward split uses this return, capped at +100% (see Leaderboard & rewards).