Practical market worksheet

Inverse Contract P&L in Settlement Coin

Calculate an inverse contract's price payout in its settlement coin.

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A hypothetical long with 1,000 USD face value enters at 50,000 USD per BTC and exits at 55,000. Gross payout is 1,000 × (1/50,000 − 1/55,000), or approximately 0.001818181818 BTC. With no supplied fees, net payout is the same amount. The value is BTC, not 1,818 USD.

What this helps you check

Inverse payout uses reciprocal prices, so a dollar price difference multiplied by a base quantity is the wrong shortcut. This worksheet starts with total quote face value and calculates gross long or short payout in the supplied settlement coin, then subtracts separately supplied settlement-coin fees.

Gross and net use the inverse payout definition and your supplied references. A mark price can describe an unrealized calculation while an actual exit can describe a realized price calculation; name your input's role in your own record. Funding and other cash flows are not automatically included.

Your worksheet

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Interactive calculation requires JavaScript. The method and hypothetical worked example below remain readable.

Hypothetical worked example

Check the example by hand

Gross inverse P&L: 0.00181818181818BTC
Supplied fees: 0BTC
Net inverse P&L: 0.00181818181818BTC

Exact example inputs

{
  "side": "long",
  "quote_face_value": "1000",
  "entry_price": "50000",
  "exit_price": "55000",
  "fees_settlement": "0",
  "settlement_asset": "BTC",
  "quote_asset": "USD"
}

The example is invented to demonstrate the method. It is not a current market quote, a provider's fee schedule or verified trading performance.

How the worksheet works

long_gross=quote_face_value*(1/entry_price-1/exit_price).
short_gross=-long_gross.
net=gross-fees_settlement.
quote_face_value is total quote denomination, not base quantity or unexplained contract count.

Boundaries to keep in view

Only inverse reciprocal-price payout; no quanto or linear formula selection.
A supplied average inverse entry must be the provider-correct harmonic average, not arithmetic lot averaging.
No automatic fee/funding rates, mark price, liquidation, bankruptcy or leverage ROI.

Compare resources for this task

Inverse-contract research is primarily a units problem. Venue specifications explain face value, reciprocal payout and settlement denomination. The table links those references while keeping record tools and spreadsheets in their own roles.

10 Resources for Inverse Contract P&L

Official sources and scope

The sources document formats, mechanisms or record workflows. The arithmetic and editorial comparison on this page use the supplied worksheet definitions.

Bybit inverse P&L
Inverse P&L in settlement coin uses reciprocal prices; fees are separate.
Reference checked 2026-10-01. Consult the source for current product rules.
BitMEX P&L guide
Inverse reciprocal-price payout and distinction between mark-based unrealized and realized execution P&L.
Reference checked 2026-10-01. Consult the source for current product rules.
Deribit inverse futures units
USD contract size and order amount differ from BTC/ETH settlement units; base_currency alone does not identify contract_size units.
Reference checked 2026-10-01. Consult the source for current product rules.