# Metrics Explained ## Profit & Loss (PnL) ### Unrealized PnL **Definition:** Profit or loss on open positions (not yet closed). **Formula:** ``` Long: (Current Price - Entry Price) × Size Short: (Entry Price - Current Price) × Size ``` **Characteristics:** * Changes in real-time as prices move * Not guaranteed until position closed * Shown in position panel ### Realized PnL **Definition:** Profit or loss from closed positions (locked in). **Formula:** ``` Realized PnL = Exit Price - Entry Price (accounting for size and fees) ``` **Characteristics:** * Finalized when position closes * Added to account balance * Used for performance tracking ### Net PnL **Definition:** Total profit/loss including both realized and unrealized. ``` Net PnL = Realized PnL + Unrealized PnL ``` ## Trading Performance ### Win Rate **Definition:** Percentage of profitable trades. **Formula:** ``` Win Rate = (Winning Trades / Total Trades) × 100% ``` **Example:** ``` Total Trades: 100 Winning Trades: 65 Win Rate: 65% ``` **Interpretation:** * 50%+: Positive win rate * 60%+: Good performance * 70%+: Excellent performance High win rate doesn't guarantee profitability. Large losses can offset many small wins. ### Profit Factor **Definition:** Ratio of gross profit to gross loss. **Formula:** ``` Profit Factor = Gross Profit / Gross Loss ``` **Example:** ``` Gross Profit: $10,000 Gross Loss: $5,000 Profit Factor: 2.0 ``` **Interpretation:** * 1.0: Break even * > 1.0: Profitable * > 2.0: Strong performance ### Average Win vs Average Loss **Metrics:** ``` Average Win = Total Profit from Wins / Number of Wins Average Loss = Total Loss from Losses / Number of Losses ``` **Risk/Reward Ratio:** ``` R/R = Average Win / Average Loss ``` **Example:** ``` Average Win: $200 Average Loss: $100 R/R: 2:1 (winning trades are 2x larger than losers) ``` ## Drawdown Metrics ### Current Drawdown **Definition:** Current percentage below peak balance. **Formula:** ``` Current Drawdown = ((Peak Balance - Current Balance) / Peak Balance) × 100% ``` **Example:** ``` Peak: $11,000 Current: $9,500 Drawdown: 13.6% ``` ### Max Drawdown **Definition:** Largest peak-to-trough decline observed. **Use:** Measures worst-case risk exposure. **Example:** ``` Peak: $10,000 Trough: $8,000 Max Drawdown: 20% ``` ### Daily Drawdown **Definition:** Loss within current 24-hour period. **Resets:** Midnight UTC **Example:** ``` Start of Day: $10,000 Current: $9,600 Daily Drawdown: 4% ``` ## Risk-Adjusted Returns ### Sharpe Ratio **Definition:** Measures return relative to risk taken. **Formula:** ``` Sharpe Ratio = (Average Return - Risk-Free Rate) / Standard Deviation of Returns ``` **Interpretation:** * <1.0: Poor risk-adjusted return * 1.0-2.0: Good * 2.0-3.0: Very good * > 3.0: Excellent **Example:** ``` Average Monthly Return: 5% Risk-Free Rate: 0.3% Std Dev: 10% Sharpe: (5% - 0.3%) / 10% = 0.47 ``` Higher Sharpe ratio = better risk-adjusted returns. ### Sortino Ratio **Definition:** Like Sharpe, but only penalizes downside volatility. **Why:** Ignores upside volatility (which is desirable). **Formula:** ``` Sortino = (Average Return - Risk-Free Rate) / Downside Deviation ``` ## Vault-Specific Metrics ### Vault ROI **Definition:** Return on initial capital for the vault. **Formula:** ``` ROI = ((Current Balance - Initial Balance) / Initial Balance) × 100% ``` **Example:** ``` Initial: $10,000 Current: $12,500 ROI: 25% ``` ### Time to Deadline **Definition:** Days remaining until deal ends. **Displayed as:** * "15 days remaining" * "2 hours remaining" * "Expired" (if past deadline) ### Oracle Freshness **Definition:** Time since last balance update. **Status:** * Fresh: <5 min * Warning: 5-10 min * Stale: >10 min (trading blocked) ## Position Metrics ### Leverage **Definition:** Position size relative to account equity. **Formula:** ``` Leverage = Position Value / Account Equity ``` **Example:** ``` Position: 1.0 BTC @ $50,000 = $50,000 Equity: $10,000 Leverage: 5x ``` ### Liquidation Distance **Definition:** How far price can move before liquidation. **Percentage:** ``` Liquidation Distance = ((Current Price - Liquidation Price) / Current Price) × 100% ``` **Example:** ``` Current Price: $50,000 Liquidation Price: $42,000 Distance: 16% ``` **Warning Levels:** * > 20%: Safe * 10-20%: Monitor * 5-10%: Warning * <5%: Critical ## Time-Based Metrics ### Holding Time **Average:** ``` Average Holding Time = Total Time in Positions / Number of Trades ``` **Use:** Identifies trading style (scalping vs swing trading). ### Trading Frequency **Trades per Day:** ``` Frequency = Total Trades / Number of Days ``` **Example:** ``` Total Trades: 150 Days: 30 Frequency: 5 trades/day ``` ## Fee Analysis ### Total Fees Paid **Components:** * Trading fees (maker/taker) * Gas fees (withdrawals, closes) * Funding fees (perpetual positions) ### Fee Impact on PnL **Net Profit After Fees:** ``` Net = Gross Profit - Total Fees ``` **Fee Percentage:** ``` Fee % = (Total Fees / Total Volume) × 100% ``` ## Related Pages * [Dashboard Overview](/analytics/dashboard-overview.md) - Navigate the dashboard * [Exporting Data](/analytics/exporting-data.md) - Download metrics * [Risk Controls](/trading/risk-controls.md) - Understand risk limits --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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