At Xena Exchange, we have developed a position-tracking feature to provide traders with real-time information about their trading performance.

Whenever you purchase or deposit cryptocurrency to your account at Xena Exchange, we remember the price of that currency. As the price grows or falls over time, we calculate your floating profit or loss and display it in the trading terminal or on the portfolio page:

Unrealized PnL (profit and loss) is calculated as the difference between the opening price of a position and the current market price, multiplied by the volume (quantity) of the position. It shows your approximate gain or loss if you were to close the position (sell all the respective currency) at the current market price. The total PnL is a bit more complicated: It includes all trading and withdrawal fees you’ve paid and the financial result of all previous trading operations executed.

Yield is a standard financial metric that shows the profit or loss in relation to the value of an initial investment. Earning $1,000 on an initial investment of $10,000 (10% yield) is significantly different from earning the same $1,000 on a $1,000,000 investment (0.1% yield).

The yield chart, shown on the portfolio page, displays your trading results for the previous month. The yield calculation takes into account all trading operations, paid fees, and unrealized PnL of open positions:

Both positions and yield are calculated in two base currencies — BTC and USDT. Results measured in the different base currencies may differ significantly. 

Imagine a trader has 10 BTC in their account and buys some Ether. Unfortunately, Ether's price begins to decline, and the trader sells it for a lower price than when they purchased it. Say that after the Ether is sold at a loss, the trader’s BTC balance becomes 9.5 BTC. 

Though there is an obvious loss of -0.5 BTC (-5%) when measured in BTC, from a USDT perspective, the situation may be profitable, depending on the price of BTC. If BTC was trading at 6,200 USDT before the trade commenced and it now trades at 6,600, the PnL measured in USDT is positive: (6,600 USDT per BTC * 9.5 BTC - 6,200 USDT per BTC * 10 BTC) = 700 USDT (+1.13%).

Therefore, you should select the currency you measure your results in, depending on your investment goals and habits. If you have a large amount of BTC, you should measure your results in BTC. If you receive your paycheck in dollars and spend mostly dollars, you should track your trading performance relative to USDT. Remember, you can switch between BTC and USDT anytime.