# Realized and unrealized trading P&L: what changed in the account?

Unrealized P&L values exposure that is still open using the venue’s chosen reference. Realized P&L records amounts recognized through trades, funding or settlement under its accounting rules. Realized does not always mean the position is closed or the amount is immediately withdrawable; the cited Deribit daily settlement is a concrete example.

Evidence: [Mark Prices](https://support.deribit.com/api/v2/help_center/en-us/articles/25944746962973.json); [Settlement](https://support.deribit.com/api/v2/help_center/en-us/articles/29734325712413.json); [Transaction log](https://support.deribit.com/api/v2/help_center/en-us/articles/25944587269021.json); [Default funding rates on dYdX](https://help.dydx.trade/en/articles/166992-default-funding-rates-on-dydx)

Canonical: https://degreesofsatoshi.com/encyclopedia/realized-unrealized-trading-pnl/
Published: 2026-10-02
Substantively modified: 2026-10-02
Independently verified by an automated reviewer: 2026-10-02T19:18:00.092Z
Data current through: 2026-10-02

AI-assisted research and drafting with a separate automated source-verification pass; no external expert or named human review is implied.

## Key facts

- **Valuation:** A mark can value unrealized P&L. ([Mark Prices](https://support.deribit.com/api/v2/help_center/en-us/articles/25944746962973.json))
- **Funding:** dYdX funding changes realized P&L while a position is open. ([Default funding rates on dYdX](https://help.dydx.trade/en/articles/166992-default-funding-rates-on-dydx))
- **Settlement:** Deribit daily settlement can realize P&L without closing exposure. ([Settlement](https://support.deribit.com/api/v2/help_center/en-us/articles/29734325712413.json))

## Separate price profit from total outcome

For a hypothetical linear long of 2 units entered at 100 and valued at 108, gross price P&L is 16 quote units. If cumulative funding paid is 3 and trading fees paid are 1, the combined result is 12 before any other costs.

Do not subtract funding again if the displayed total already includes it. Field definitions determine whether a figure is gross, net, session-only or lifetime.

Evidence: [Transaction log](https://support.deribit.com/api/v2/help_center/en-us/articles/25944587269021.json); [Default funding rates on dYdX](https://help.dydx.trade/en/articles/166992-default-funding-rates-on-dydx)

## A reset is not an erased gain

Deribit documents daily settlement that transfers session results into balance and resets session counters. The position’s total history persists. A new session showing zero P&L therefore need not mean the prior gain disappeared.

Evidence: [Settlement](https://support.deribit.com/api/v2/help_center/en-us/articles/29734325712413.json)

## Use a balance bridge

Start with opening balance, add deposits and recognized gains, subtract withdrawals and recognized losses or fees, then account for any still-unrealized value to reach equity. Keep transfers separate from trading performance. Downloaded records can round differently from the screen, so small differences need the underlying units and timestamps.

Evidence: [Transaction log](https://support.deribit.com/api/v2/help_center/en-us/articles/25944587269021.json)

## Questions

### Can realized profit exist while my trade remains open?

Yes. Funding and some venues’ periodic settlement can recognize amounts without closing the exposure.

Evidence: [Default funding rates on dYdX](https://help.dydx.trade/en/articles/166992-default-funding-rates-on-dydx); [Settlement](https://support.deribit.com/api/v2/help_center/en-us/articles/29734325712413.json)

## Claims and scope

### realized-unrealized-trading-pnl-quick-answer

Unrealized P&L values exposure that is still open using the venue’s chosen reference. Realized P&L records amounts recognized through trades, funding or settlement under its accounting rules. Realized does not always mean the position is closed or the amount is immediately withdrawable; the cited Deribit daily settlement is a concrete example.

Scope: {"collection":"defi","dataAsOf":"2026-10-02","blockHeight":null}

### realized-unrealized-trading-pnl-fact-valuation

Valuation: A mark can value unrealized P&L.

Scope: {"collection":"defi","dataAsOf":"2026-10-02","blockHeight":null}

### realized-unrealized-trading-pnl-fact-funding

Funding: dYdX funding changes realized P&L while a position is open.

Scope: {"collection":"defi","dataAsOf":"2026-10-02","blockHeight":null}

### realized-unrealized-trading-pnl-fact-settlement

Settlement: Deribit daily settlement can realize P&L without closing exposure.

Scope: {"collection":"defi","dataAsOf":"2026-10-02","blockHeight":null}

## Sources

- [Mark Prices](https://support.deribit.com/api/v2/help_center/en-us/articles/25944746962973.json) — Deribit. Official support article retrieved through its public API; venue-specific mechanics. Locator: What is the Mark Price; building blocks. Retrieved: 2026-10-02T19:02:00.584Z.
- [Settlement](https://support.deribit.com/api/v2/help_center/en-us/articles/29734325712413.json) — Deribit. Official support article retrieved through its public API; venue-specific mechanics. Locator: Daily settlement versus expiration. Retrieved: 2026-10-02T19:02:03.014Z.
- [Transaction log](https://support.deribit.com/api/v2/help_center/en-us/articles/25944587269021.json) — Deribit. Official support article retrieved through its public API; venue-specific mechanics. Locator: Cash Flow; price; Funding. Retrieved: 2026-10-02T19:02:03.438Z.
- [Default funding rates on dYdX](https://help.dydx.trade/en/articles/166992-default-funding-rates-on-dydx) — dYdX Operations Services. Funding direction, position-sized transfers and governance-adjustable calculation. Locator: Funding rates; premium; time intervals. Retrieved: 2026-10-02T18:53:20.972Z.

## Revision history

- 2026-10-02: First publication after primary-source research and separate automated verification.

## Cite this entry

Degrees of Satoshi editorial project. “Realized and unrealized trading P&L: what changed in the account?.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/realized-unrealized-trading-pnl/