Realized Pnl vs Unrealized Pnl
Look-alike pair
Full entries: .
Realized PnL is profit or loss that has already been locked in by closing a position, while Unrealized PnL is the paper profit or loss on a position that is still open. The single difference that matters: realized PnL is final and no longer moves with the market, whereas unrealized PnL changes with every price tick until the position is closed.
Side by side
| Realized Pnl | Unrealized Pnl | |
|---|---|---|
| Position status | The position has been closed. | The position remains open. |
| Certainty | Final and fixed once the closing trade is executed. | Provisional; it can rise, fall or reverse at any time. |
| Effect on account | Settled into the account balance, subject to the broker's settlement timing. | Shown as an open-position adjustment; it does not settle until the position is closed. |
| Tax treatment | Generally the figure used for reporting taxable gains or losses, though the exact rules vary by country and instrument. | Generally not taxable because no disposal has occurred, though some jurisdictions and instruments differ. |
| Field mark | Appears in a closed-positions, trade-history or realized-PnL report. | Appears in an open-positions or portfolio screen, often labelled 'unrealized PnL' or 'open PnL'. |
| Calculation basis | Entry price versus exit price, multiplied by size and adjusted for fees and funding where applicable. | Entry price versus current market price, multiplied by size and adjusted for fees and funding where applicable. |
Which word to use
Use realized PnL when referring to a closed trade or a completed reporting period, and unrealized PnL when referring to the current mark-to-market value of a position that is still open.
Family: XI · Look-alikes · Index A–Z