The NapBots' Dashboard recording all the trades our system sends to the customer exchange and calculate the P&L. The P&L displayed on the Dashboard aggregating realized and unrealized P&L. By focusing on realzied and unrealized P&L, this allows our users to track the value of their wallet amount.
User Trading / Funfing impact
The « User Trading / Funfing impact » section is for users who trade alongside Napbots or who have non-USD funding (e.g. on Bitmex, Bitfinex or Kraken). What you see here is still a bit of a work in progress so these figures may not be entirely accurate. We are aware of this and are working on refining them.
There is a difference between my NapBots' P&L and the P&L shown on my exchange
Exchanges such as Binance, only displays the realized P&L which will make it difficult to reconcile with your wallet amount that also includes unrealized profits. If you want to understand how Binance calculate and display performance, imagine that :
- you have a portfolio of 1000
- you are fully invested in long BTC
- you put in Binance the leverage of x5.
Basically, you have no effective leverage since invested amount / wallet amount = 1000/1000 = 1. On the other hand, out of your 1000, Binance asks you to set aside 200 in equity and makes you borrow 800 (on which you will pay funding fees). If the BTC loses 10%, your portfolio goes from 1000 to 900. On the other hand, Binance will show you a performance of -50% on the site, which corresponds to the 100 (1000-900) lost compared to the 200 equity that Binance has set aside for you.
We have advised our user to set this leverage at 2x on the Binance exchange for each pair you are trading unless you want to trade alongside NapBots. This will reduce funding fees you need to pay to Binance. If you don't know how to adjust your leverage on Binance, you can read this tutorials from Binance : https://www.binance.com/fr/support/faq/360034946672-How-to-adjust-contract-leverage-
Useful definition :
P&L: it simply refers to the total profit or loss made by a trader over a certain time period.
Daily P&L: is determined for all existing positions you hold. It refers to the total profit or loss made by all your trades over the day.
Realized PNL: refers to profit or loss on a completed trade or closed position. This means a position which has been initiated and then closed. It also includes any and all fees and commissions associated with the transaction. Fees vary depending on the exchange you use.
Unrealized PNL: the current profit or loss of an open position. The unrealized P&L reflects what profit or loss could be realized if the position were closed in that time.