FTX is considering a feature where you can decide what currency you're paid PnL in.
Say you choose BTC. You make $5, and it's paid out in BTC. Then markets move and you lose $5.
Do you want to turn that BTC back into USD to pay the $5, or to end up with negative $5 and BTC?
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Just to clarify: when $5 gets paid out in BTC, would the system effectively just marketbuy $5 worth of BTC to credit it to your account?
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I see. But wouldn't it make more sense to keep the unrealized pnl in a single currency and then apply the conversion once it becomes realized pnl?
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Replying to
FTX turns unrealized --> realized every 30 seconds :)
(so you can immediately trade with/withdraw/move/etc. your PnL)
Oh I didn't know that, interesting! Do you happen to have a blog article on this topic on the implications of this methodology? Either way I'll give it some thought, thanks!
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But what about conversion fees of the already won Profit and or loss, Id just like a single currency.
Win or lose btc.
Win or gain USD.
What you say would make a lot of sense for some people who hedge a lot etc.
But I think the platform might be getting too complicated