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Positions & P&L

Managing holdings and understanding performance

Position Lifecycle

A position goes through several stages:

  1. Split — USDC is split into YES and NO tokens for both target and cover markets
  2. Sell Unwanted — The sides you don't want are sold on the CLOB to recover partial cost
  3. Active — You hold the desired tokens. The position earns or loses value as prices move.
  4. Exit — Tokens are sold back (via CLOB) or merged (if the market resolved). Position becomes complete.

The Split and Sell Unwanted stages apply to covered-pair positions. Favorite-Held-Maker (FHM) positions skip them — they enter Active directly from order fills (no on-chain split).

Position States

StateMeaning
openYou hold the tokens. The position earns or loses value as prices move.
closingThe position is being exited — sell orders are in flight.
closed / completeFully exited. All tokens sold or merged. Terminal state.

Warning

To act on an open position, use the inline Exit, −50%, or Custom buttons in its Actions column. Engine-level controls (pause / stop / exit-all) live in the status bar at the top of the page.

Reading the Positions Table

  • ID — Short position identifier
  • Src — Auto (engine-managed) or Manual badge
  • Market — The market question with a TGT (target) or CVR (cover) badge and a link to Polymarket
  • Side — YES or NO (or BUY / SELL)
  • Size — Number of tokens held
  • Entry — Average entry price per token
  • Mark — Current mark price per token
  • Cost — Cost basis in dollars
  • Value — Current market value based on live prices
  • P&L — Dollar and percentage profit/loss. Green = profit, red = loss.
  • Opened — Timestamp the position was opened
  • Hold — How long the position has been open
  • Actions — Inline −50%, Custom, and Exit buttons for open positions. Click the row for the full detail page with −25%, Custom, Close 100%, and Buy more.

Position Detail Page

Click any position — from the dashboard, the Positions list, or the P&L page — to open its detail page:

  • Countdown — live time remaining until the market resolves.
  • Live P&L — unrealized (open) or realized (closed) profit/loss, updating in real time, alongside mark price, average entry, size, and fees.
  • Price chart — the outcome's price history with your average entry marked.
  • Lot breakdown — each individual fill (entry price, size, remaining, opened) that makes up the position.

Position Actions

While a position is open, its detail page (and the Positions list) offer manual controls:

  • −25% / −50% — Reduces the position by a quarter or half. Inline confirm, no popup dialog.
  • Custom — Enter a specific number of shares to sell.
  • Close 100% — Full exit — creates a sell order for all remaining shares.
  • Buy more — Jumps to the position's market page to add to it.

Reduces and closes route through the trading engine as a sell order worked at the best available price — fills land in Recent Activity within a few seconds. If your account is in simulation (dry-run) mode, these still work but produce a SIM fill rather than a real one. The Polymarket link for a position is inline in its Market cell.

Engine-Managed Positions

Positions created by the automation engine live in the same table as manual ones. The Src column shows Auto for engine-managed rows and Manual otherwise. Use the P&L page for performance tracking and the status bar at the top of the page for pause/stop/exit-all overrides.

Understanding P&L

The P&L page provides portfolio-level performance metrics:

Header Stats

  • Net P&L — Total profit/loss after all fees
  • Return % — Net P&L divided by total cost basis

Stat Cards

  • Cost Basis — Total amount invested across all positions
  • Market Value — Current mark-to-market value of open positions
  • Realized — P&L from closed positions and partial sells (locked in)
  • Unrealized — P&L from open positions at current prices (not locked in)
  • Total Fees — Sum of CLOB fees and gas costs only. Slippage is tracked and shown separately and is not included in this total.

P&L Tabs

  • Summary — Open and closed position counts
  • Positions — Per-position breakdown with entry price, mark price, cost basis, and realized/unrealized P&L.
  • Exposure — Exposure breakdown by market, event, and strategy with dollar amounts and percentages
  • Markets — P&L grouped by market with position count, cost, value, realized, unrealized, total P&L, fees, and Polymarket links.
  • Strategies — P&L grouped by strategy type with position count, cost, value, realized, unrealized, total P&L, and fees.
  • Daily — A day-by-day table (Date, Realized P&L, Cumulative, Fees, Opened, Closed). The charts live in the Summary tab, not here.
  • Fees — Breakdown of CLOB fees, gas costs (in MATIC), slippage, and total in USDC

Fee Breakdown

Tip

The Fees tab tracks three figures. Only the first two roll up into the Total (USDC) — slippage is shown separately:

  • CLOB Fees — Charged by Polymarket on each fill. Typically 0–2% depending on the market. Counts toward the total.
  • Gas Costs — Polygon transaction fees for on-chain operations (split, merge). Measured in MATIC, converted to USDC. Counts toward the total.
  • Slippage — Difference between expected and actual fill price. Larger for illiquid markets. Tracked and displayed on its own, but not part of the Total (USDC).

What to Watch

  • Positions stuck in "closing" for more than a few minutes may need manual intervention
  • Large unrealized losses may indicate the hedge thesis is wrong — consider exiting
  • If total fees are eating into your edge, tighten your Min Net Edge setting in Automation
  • Check the Fees tab regularly to understand your true cost of trading