How to Calculate Returns in Futures Trading?

XRP-0. 14%

Long position returns = Face value × Number of contracts opened / Opening price - Face value × Number of contracts opened / Closing price

Short position returns = Face value × Number of contracts opened / Closing price - Face value × Number of contracts opened / Opening price

Key takeaway:

For settled returns, the calculation is: pre-settlement returns + post-settlement returns.

For unsettled returns, you can apply the formula directly.

Detailed examples:

First scenario: Position has not been settled:

The average opening price in the page is 0.233, the average closing price is 0.2361, and the number of contracts opened is 1.

Long position returns = (Contract face value / Average opening price - Contract face value / Average closing price) × Number of contracts = (10/0.233 - 10/0.2361) × 1 = 0.5635 XRP

Second scenario: Position has been settled:

The closing record after settlement shows returns calculated based on the settlement reference price. The closing time on the page is September 27 at 15:53:31. The settlement reference price for September 26 at 16:00 is 0.2447.

The long position returns shown on the statement page = (Contract face value / Average opening price - Contract face value / Average closing price) × Number of contracts = (10/0.2447 - 10/0.2435) × 1 = -0.2208

The actual returns of the position = (10/0.237 - 10/0.2435) × 1 = 1.126331

Third scenario: Position was settled and then added to:

After settlement, the returns shown on the close position page are calculated using the settlement reference price as the average opening price.

First, calculate the margin for the first trade using the margin formula.

First fixed margin = Contract face value / Average opening price / Leverage × Number of contracts = 10/0.28/10 × 1 = 3.57142857

Second fixed margin = 10/0.2741/10 × 1 = 3.6483035388

Combined margin for both trades = 7.2197318088544. Calculate the average opening price using the margin formula.

7.2197318088544 = 10 / Average opening price / 10 × 2. Average opening price = 0.277

Since the first trade was settled, the first trade needs to be calculated using the settlement reference price of 0.276.

First trade margin after settlement = 10/0.276/10 × 1 = 3.6231884

Combined margin for both trades = 7.2714919445971

7.2714919445971 = 10 / Post-addition settlement reference price / 10 × 2. Post-addition settlement reference price = 0.275

Returns shown on the statement page = (Contract face value / Settlement reference price - Contract face value / Average closing price) × Number of contracts

= (10/0.275 - 10/0.2567) × 2 = -5.18468675

Actual returns of the position = (Contract face value / Average opening price - Contract face value / Average closing price) × Number of contracts

= (10/0.277 - 10/0.2567) × 2 = -5.709793420798

Disclaimer

This article may contain product-related content that does not apply to your region. This article is intended solely to provide general information and makes no representation as to the accuracy or completeness of any facts. The views expressed in this article are those of the author and do not reflect the views of OKX. This article is not intended to provide any advice, including but not limited to: (i) investment advice or investment recommendations; (ii) offers or solicitations to buy, sell, or hold digital assets; or (iii) financial, accounting, legal, or tax advice. Holding digital assets (including stablecoins) involves a high degree of risk and the value of such assets may fluctuate significantly or even become worthless. You should carefully consider whether trading or holding digital assets is appropriate for you based on your financial situation. For questions specific to your circumstances, please consult your legal/tax/investment professional. Any information contained in this article (including market data and statistics, where applicable) is provided for general reference purposes only. While all reasonable precautions have been taken in preparing such data and charts, we assume no responsibility for any factual errors or omissions expressed herein. © 2025 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less may be used, provided that such use is for non-commercial purposes. Any reproduction or distribution of the entire article must prominently state: "This article is copyrighted © 2025 OKX, used with permission." Permitted excerpts must cite the article title and include the source, for example, "Article title, [author name (if applicable)], © 2025 OKX". Some content may be generated or assisted by artificial intelligence (AI) tools. Derivative works or other uses of this article are not permitted.

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