# Profit and Loss (PnL)

## **PnL of Leveraged Yield Trading Positions**

The PnL (Profit or Loss) of a position can be calculated by summing the changes in the value of Standard Tokens (STs) and Yield Tokens (YTs). Since changes in ST value are already reflected in the entry price, the PnL can be more easily derived solely from the change in YT prices. The following equations illustrate this concept:

For Long Yield Positions:

$$
\text{Unrealized PnL} = \text{AmountYT} \times (\text{CurrentPrice} - \text{EntryPrice})
$$

For Short Yield Positions:

$$
\text{Unrealized PnL} = \text{AmountYT} \times (\text{EntryPrice} - \text{CurrentPrice})
$$


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