In trading, PNL stands for Profit and Loss a key metric that shows how much you’ve gained or lost on your trades. There are two types of PNL that every trader should understand:

1. Realised PNL

Realised PNL is the actual profit or loss you make after closing a position.

• It is calculated when you sell or exit a trade.

• The result is credited or debited to your trading wallet.

• It reflects your locked-in gains or losses  meaning it's final and cannot change.

Example:
You bought Bitcoin at $30,000 and sold it at $35,000.
Your realised PNL is +$5,000.

2. Unrealised PNL on Future and spot position

Unrealised PNL is the potential profit or loss on your open (ongoing) positions.
For Futures and Spot positions, Unrealised PNL (uPNL) is calculated based on the difference between your entry price and the current market price. 

• If the current market price moves above your buy price, the uPNL shows profit.
• If the market price moves below your buy price, the uPNL shows loss.

The value updates continuously in real time as the market price changes.

For Futures contracts on Delta Exchange, uPNL is generally derived using the mark price to provide fair valuation and reduce the impact of temporary price spikes.

Example:
You bought Bitcoin at $30,000 and it's currently trading at $35,000.
Your unrealised PNL is +$5,000, but it may rise or fall as the market moves.

Important Note for Delta Exchange Users:

On Delta Exchange, if you want to calculate your net PNL, you must subtract the trading fees from your realised PNL.

• The PNL Analytics section on Delta Exchange shows only your realised PNL.

• It does not include fees by default.

• To get your net PNL, manually deduct the fees listed in the same analytics section.