Glossary

The terms you meet on the Trade page and in alerts, in plain words.

• Long / Short. A long position gains when the price rises, a short position gains when it falls.
• Entry. The price at which you opened the position.
• Mark. The current market price that BitMe uses to calculate P&L.
• Size. The number of contracts in the position.
• Value (notional). The full size of a position or an order: price times size.
• Leverage. How many times the exposure is larger than the margin behind it. The higher the leverage, the closer the liquidation price sits to the entry.
• Margin / Cost. The capital locked for a position. BitMe shows it as Cost: your own money in the position, not the leveraged size.
• Liquidation (Liq). The exchange force-closes a position when its margin can no longer cover the losses. Liq is the price at which that happens. See liquidation risk.
• Stop-loss (SL) and take-profit (TP). Orders that close a position at a loss limit or at a profit target. An exchange can hold several of each (a ladder).
• Limit order. An order that fills at your price or better, so it can rest on the order book until price reaches it.
• Unrealized P&L. The profit or loss of a position that is still open.
• ROE. Return on the margin committed to the position, times 100%. Usually the same margin shown in Cost, but if the exchange topped up margin along the way (to push back liquidation), ROE is measured against the margin at entry rather than the current one — so the two numbers can differ slightly.

How the figures in the dashboard, the journal and the Assets page are calculated.

• Gross P&L, fee, net P&L. The result of a closed position before fees, the fees paid, and the result after fees. The dashboard works on net P&L.
• Win rate. Winning trades divided by all trades in the period. A trade with exactly zero net P&L counts in the total but is neither a win nor a loss.
• Profit factor. The total net profit of the winning trades divided by the total net loss of the losing trades. Above 1 the wins outweigh the losses; it shows a dash while there are no losing trades.
• Average win, average loss and their ratio. The mean net result of the winning trades, the mean net loss of the losing trades, and the first divided by the second.
• Streak. Consecutive wins or consecutive losses: the current one and the best of each.
• Duration. The time from opening to closing a position.
• Equity and the equity curve. The equity in the header is the current value of your trading accounts. The equity curve in the dashboard is different: the cumulative net P&L of your closed trades.
• Drawdown and max drawdown. How far the cumulative net P&L is below its most recent peak, in money, and the deepest such fall in the period. See drawdown.
• R and R:R. R is the distance from entry to stop-loss. R:R is the planned reward divided by that risk, and a result of 2R means price moved twice the stop distance in your favour.
• Average buy price and cost basis. For spot holdings, the weighted average price paid, from your synced buy and sell history. See average buy price and P&L.

The terms used in the market reports.

• Funding rate. A periodic payment between longs and shorts that keeps a perpetual contract close to the spot price. Positive: longs pay shorts; negative: shorts pay longs. See funding rate.
• Open interest. The total size of open futures positions. See open interest.
• Long/short ratio. The share of accounts holding long positions versus short ones. See long/short ratio.
• Liquidations. Forced closures of positions, split into liquidated longs and liquidated shorts. See liquidations.
• Order book depth. How much size is waiting to buy or sell at each price level around the current price. See order book depth.
• Coinbase premium. The percentage difference between the BTC price on Coinbase (USD) and on Binance (USDT). See Coinbase premium.
• Dominance. The share of BTC, ETH and SOL in their combined market cap. See market dominance.
• TVL. Total value locked in DeFi protocols, in USD. See DeFi TVL.
• Put/call ratio and DVOL. The open interest in puts divided by the open interest in calls, and Deribit's 30-day implied volatility index. See options.
• COT. The weekly CFTC Commitments of Traders report on CME futures. See COT report.

The words you meet when connecting an exchange and securing your account.

• API key, secret and passphrase. The credentials you create on an exchange so that BitMe can read your account. OKX and BloFin also ask for a passphrase that you choose when you create the key.
• Read-only key. A key that can read positions, balances and trades but cannot place orders or withdraw. This is all BitMe needs.
• Write key and Manage Positions. An optional second key with trade permission. With Manage Positions on, BitMe can close positions and cancel orders from the Trade page; it requires two-factor authentication.
• Base URL. The address of the exchange API. The default is the live one; other values select a demo or test environment. See connect your exchanges.
• USDT- and USDC-margined (linear) versus coin-margined (inverse). Linear contracts are margined and settled in a stablecoin. Inverse contracts are margined in the coin itself. BitMe covers the linear ones.
• Perpetual contract. A futures contract with no expiry date, held open as long as you like.
• Sync. Importing your closed trades from the exchange into BitMe, by hand with Sync all trades and automatically every night.
• Two-factor authentication (2FA). A second step after your password: a code from an authenticator app. See two-factor authentication.
• Passkey. Signing in with Face ID, Touch ID or Windows Hello instead of a password. See passkeys.
• Chat ID. The number that identifies your Telegram chat; BitMe needs it to send you alerts. See Telegram and alerts.