PolyTerminal
How to use it
Pick long or short, type the entry and exit prices and the position value, and set your leverage. Choose your fee tier, which depends on your trailing 30-day trading volume, and say whether each fill was a taker or a maker order. The result on the right shows the net profit or loss and the return on your margin, with the pieces below it. The table at the bottom shows the same trade if the exit price had been 10 or 5 percent lower, or 5, 10 or 20 percent higher than your entry. "Add funding" opens two boxes for the hourly rate and the hours you hold.
How profit and loss are calculated
Polymarket's margin documentation gives the profit or loss of a position at a price. For a long it is PositionSize * (Mark - EntryPrice) and for a short it is PositionSize * (EntryPrice - Mark), where the position size is the quantity: the position value divided by the entry price. The fee of every fill is abs(Price * Quantity) * Rate, and the rate depends on your fee tier. The tier follows your trailing 30-day trading volume and is re-evaluated every UTC day.
| 30-day volume from | Taker fee | Maker fee |
|---|---|---|
| $0 | 0.0400% | 0.0125% |
| $1M | 0.0370% | 0.0100% |
| $5M | 0.0350% | 0.0080% |
| $25M | 0.0300% | 0.0050% |
| $100M | 0.0270% | 0.0020% |
| $500M | 0.0250% | 0.0000% |
| $1B | 0.0200% | -0.0050% |
Perps fee tiers by trailing 30-day volume. Source: docs.polymarket.com/perps/learn-about-trading/fees, checked .
The calculator charges a fee on the entry fill and a fee on the exit fill, each at the taker or the maker rate you pick. A taker order removes liquidity from the order book and pays the taker rate. A maker order adds liquidity and pays the maker rate, which at the top tier is a rebate.
The net result is the profit or loss before fees, minus both fees, and minus funding if you add it. The return on margin divides the net result by the margin you post, which is the position value divided by your leverage. The break-even exit price is the exit at which the net result is zero. Normally, for a long it sits a little above the entry, and for a short a little below it, because the fees have to be earned back first. If both fills earn the maker rebate of the top tier, the order can flip.
What the calculator leaves out
- Liquidation. A position is liquidated before a loss reaches its whole margin, and the table does not stop at the liquidation price. The liquidation calculator shows where that price is, and the liquidation guide explains how it works.
- The liquidation fee. If a position is liquidated, every fill pays its normal maker or taker rate plus a liquidation fee, Notional × (MakerOrTakerRate + LiquidationFeeRate). The calculator models a normal close only.
- Funding. The optional block multiplies the position value by the hourly rate and by the hours. Polymarket's documentation does not spell out which price a funding payment is based on, so treat it as an approximation. The funding rate guide explains how the rate is built.
- Your account's actual tier. The calculator uses the tier you pick. Polymarket sets your real tier from your account's volume, except that some accounts from the Perps beta are temporarily on the top-tier schedule.
FAQ
How is PnL calculated on Polymarket Perps?
The documentation gives the profit or loss of an open position as the position size times the difference between the mark price and the entry price, with the order of the two reversed for a short. This calculator uses the exit price in place of the mark price, takes off the fees on both fills, and adds funding if you open that block.
Do I pay a fee when I open and when I close?
Yes. Every fill pays a fee equal to its value times a rate, so a round trip pays two fees. The rate depends on your fee tier and on whether the order was a taker or a maker order. The calculator shows both fees so that you can see what the round trip costs.
What is the return on margin?
It is the net profit or loss divided by the margin you post, and the margin is the position value divided by your leverage. At a higher leverage the same price move is a larger share of a smaller margin, so the return on margin grows, and so does the loss.
How do I find the break-even price of a Perps position?
It is the exit price at which the profit before fees exactly covers the entry fee, the exit fee and any funding. The calculator solves for it and shows it under the result. Normally it is above your entry for a long and below it for a short.
Does the calculator include funding?
Only if you open the funding block. Funding is paid between longs and shorts once per hour, so the block multiplies the position value by the rate and by the hours you hold. A positive rate is paid by longs and received by shorts.
Sources and checks
Every rule quoted in this article comes from the registry below. Each row names the official page and the day it was compared with the text.
All 7 rules used in this article
| Rule | Value | Official source | Checked |
|---|---|---|---|
| What sets the Perps fee tier | trailing 30-day trading volume | docs.polymarket.com/ | |
| Unrealized PnL of a long position | PositionSize * (Mark - EntryPrice) | docs.polymarket.com/ | |
| Unrealized PnL of a short position | PositionSize * (EntryPrice - Mark) | docs.polymarket.com/ | |
| Perps fee per fill | abs(Price * Quantity) * Rate | docs.polymarket.com/ | |
| Fee tier re-evaluation | every UTC day | docs.polymarket.com/ | |
| Fee on a liquidation fill | Notional × (MakerOrTakerRate + LiquidationFeeRate) | docs.polymarket.com/ | |
| Perps fee tiers by trailing 30-day volume | Perps fee tiers | docs.polymarket.com/ |
Keep reading
Free tool
Perps Liquidation Price Calculator
Free Polymarket Perps calculator: estimate the liquidation price of an isolated position, the margin you post and the cost of funding.
Perps · 10 min
Polymarket Perps: How They Work
How Polymarket Perps work: perpetual futures with no expiry, margin, funding, mark price and liquidation, with the official rules and dates.
Perps · 6 min
Polymarket Perps Funding Rate Explained
How the Polymarket Perps funding rate is built from the order book, settled every hour and capped, who pays whom, and what it costs to hold a position.
PolyTerminal is an independent interface for Polymarket and is not operated or endorsed by Polymarket. Orders placed through PolyTerminal carry PolyTerminal’s Polymarket builder code, and PolyTerminal may charge a builder fee on top of Polymarket’s own fees. This page is educational and is not investment advice. Rules were compared with the official documentation on Oct 19, 2026; check the source before you act on a number.