- On futures, the % your exchange shows (called ROE or ROI depending on the exchange) is profit divided by the margin you put up.
- It works out as price move × leverage. A 4.3% move at 35x is about +150%.
- Your account return is much smaller, and depends on how much margin you used.
ROE vs ROI: the short answer
In general finance, ROI (return on investment) is profit divided by what you invested, and ROE (return on equity) is profit divided by the owners' equity. On crypto futures exchanges the two words are used for the same thing: the profit or loss on a position divided by the initial margin for that position. Some exchanges have labelled it ROE, others ROI, and some have switched names over time. If you are reading a futures position, treat them as the same number.
Initial margin = Position size ÷ Leverage
So, ignoring fees: ROE ≈ price move % × leverage
Worked example from a real trade
UNI/USDT short at 35x: entry 8.9390, exit at the target 8.5546.
| Step | Value |
|---|---|
| Price move (in our favour) | (8.9390 − 8.5546) ÷ 8.9390 = 4.30% |
| Leverage | 35x |
| ROE / ROI on margin | 4.30% × 35 = +150.5% |
| Published result | +150.51% |
The same maths explains our losses. The stop was 1.71% away, so a stop-out would have cost 1.71% × 35 ≈ 60% of the margin. That is why many of our losing trades show close to -60%: the desk sizes its stops that way.
Why ROE is not your account return
Suppose your futures account holds $1,000 and you put $16.70 of margin on that UNI trade. A +150% ROE is +$25. Your account went up 2.5%, not 150%. The ROE figure describes the trade; your account return depends on how much of your balance was behind it. Our guide to position sizing shows how to choose that amount.
| Margin used | ROE | Profit | Account return ($1,000) |
|---|---|---|---|
| $16.70 | +150.5% | +$25 | +2.5% |
| $50 | +150.5% | +$75 | +7.5% |
| $200 | +150.5% | +$301 | +30%, but a stop-out would have cost $120 |
Same trade, different leverage
Because ROE is price move × leverage, the same signal gives very different headline numbers at different leverage, while the price levels stay identical:
| Leverage | ROE at target (4.30% move) | ROE at stop (1.71% move) |
|---|---|---|
| 5x | +21.5% | −8.6% |
| 10x | +43.0% | −17.1% |
| 20x | +86.0% | −34.3% |
| 35x | +150.5% | −60.0% |
This is why we always state the leverage next to every result on our track record, and why a provider quoting big percentages without leverage is telling you very little. See also: how much leverage should you use?
ROE, ROI and PnL on Binance and Bybit
- PnL is the profit or loss in money (USDT).
- ROE / ROI is that PnL as a % of the position's initial margin.
- Fees and funding payments reduce the realised figure slightly compared with the simple price × leverage estimate.
Get the next trade the moment we take it
Every result we publish states the leverage, so you can convert it to your own size. Signal Pilot sends the exact trades our desk takes, with entry, stop loss, targets and leverage, the moment we enter. You pay per signal: $1 for crypto, $3 for forex and stocks, minimum 10. No subscription, credits never expire, and if a trade is cancelled before entry the credit comes back.
Frequently asked questions
Is ROE and ROI the same in crypto futures?
On futures exchanges, yes in practice: both mean the position's profit divided by its initial margin.
How is ROE calculated on futures?
PnL divided by initial margin. Ignoring fees, it equals the price move in % times the leverage.
Why is my ROE so high when price barely moved?
Leverage multiplies the move. A 2% move at 50x is 100% of your margin, in either direction.
Does a higher ROE mean a better trade?
No. The same trade at higher leverage shows a higher ROE, but the price levels and the idea are identical.
What does "+48% at 10x" mean?
The price moved about 4.8% in the trade's favour, and at 10x leverage that is +48% on the margin.
Risk warning: trading crypto, forex and other markets with leverage carries a high risk of loss, and you can lose more than you deposit. This article is education, not financial advice. Past results do not guarantee future results.