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I really don't get the PnL calculations on FTX' $move. Went 100x short with $12. Notional size was 20 dollar (?). Index dropped 3%, my position is up 283%. I'm $0.57 in profit. The fuck is this sorcery?

David {scotch maximalist}

@bearishbulltard

Jun 18, 2020

Position size is 0.12 btc, which is around 1k dollar, which I get since that's around 12 bucks at 100x. How can I be at 285% and still just half a dollar in profit?

David {scotch maximalist}

@bearishbulltard

Jun 18, 2020

Seriously, how can I be up 300% on my position but just 5% in dollar value? Shit's strange, or I'm retarded, or both.

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I think it multiplies by your leverage used--does that explain it?

David {scotch maximalist}

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and

Not really to be honest. I shorted $move at $159, $12 position size at 100x. Closed it at $152, which is a 4.5% drop in price. Closing popup showed me a profit percentage of 440%, which I understand. However, I didn't 4x my initial $12, as I would expect.

David {scotch maximalist}

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and

I must overlook something very basic and I guess it's just me being stupid at this point.

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Ah so it takes your max leverage not the amount of total collateral your account has-- so it's considering this to be: you used $1.59 of your $12 to go 100x long, and then made about $7, so about 400% of that.

David {scotch maximalist}

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Except I didn't make $7, but more like $0.70. I really don't understand. I trade $12 on 100x, index drops 4%, I close the trade at (expected) 400% profit, and make less than a dollar.