PnL calculator
Profit of a long or short after fees, return on margin, breakeven price and the liquidation price at your leverage.
How profit is calculated
PnL is the price change times the position size in coins. Leverage does not change the dollar profit — it changes the margin you put up, so the return on margin (ROE) grows with leverage, and so does the loss.
Fees are charged on the traded amount at entry and at exit. On Hyperliquid the base tier is 0.045% for market orders and 0.015% for limit orders; Lighter Standard accounts trade without fees, Premium accounts pay 0.028% and 0.004%.
The breakeven price is the exit at which the fees are covered. The calculator does not include funding: for long holds add it with the funding calculator.
PnL: questions and answers
Does higher leverage give more profit?
The dollar profit for the same position size is the same. Higher leverage only means less margin, so ROE is higher — and the liquidation price is closer.
Why is my breakeven above the entry price?
Because you pay fees twice: when you open and when you close. A long has to rise by about the sum of both fees to break even.
Which fees should I choose?
Hyperliquid base tier if your 14-day volume is below $5M; Lighter Standard for a regular Lighter account (zero fees, slower taker orders) or Premium if you switched to it.