Returning to your entry price does not necessarily return your capital. Entry and exit fees both count, and funding paid while you held the position raises the hurdle. Choose long or short above; enter funding received as a negative cash amount.
Avoid counting slippage twice
Use reference prices plus an assumed slippage percentage, or use actual execution prices with slippage set to zero. The calculator applies adverse slippage on both entry and exit. Applying it again to already executed prices would double-count the cost.
Fee inputs are percentages: 0.05 means 0.05%. Funding is a total cash amount, not a rate. Quantity is base-coin quantity, such as BTC, rather than an exchange’s number of contracts.
Leverage changes margin, not the same position twice
A 100 margin balance at 10x might support 1,000 of notional exposure. Fees are calculated on that traded notional. Once your coin quantity already represents that exposure, multiplying the fees by ten again would be wrong. Changing leverage while keeping quantity constant affects margin and liquidation exposure, not the price P&L shown here.
A simple check you can do by hand
Buy ten units at 100 and sell them at 100. With a 0.1% fee on each side and no funding or slippage, gross price P&L is zero and total trading fees are two. Net P&L is minus two. The calculated break-even price includes the fact that the exit fee itself changes with the exit value.
For a short, the target moves in the opposite direction: the price must fall enough to cover costs. Funding received can reduce the hurdle, but today’s funding direction can reverse.
Break-even is not liquidation price
This calculation answers when net P&L reaches zero under your inputs. It does not determine whether you have enough margin to remain in the trade. Inverse contracts, portfolio collateral and liquidation are outside this linear model. Use the funding comparison to examine settlement timing separately.