fomo PnL explained
What the profit and loss numbers in the fomo app include, what they leave out, and how to check them against your balance. Independent and unofficial.
On fomo, the PnL shown on a closed perps position includes funding and does not include trading fees, so your closed positions add up to more than your perps cash balance actually changed; the gap is the fees. fomo charges up to 0.05% of the position size each time you open and close, plus Hyperliquid's fee. At 10x leverage, fomo's part alone is about 1% of your margin per round trip.
The rule, in fomo’s words
PnL means profit and loss: how much a trade made or lost. fomo’s help article on perps fees says (read November 10, 2026):
“The PnL shown on a closed position in your Perps history includes funding and does not include these trading fees. Added up, your closed positions come to more than the change in your perps cash balance, and the difference is the fees paid on those trades.”
Two costs touch every perps trade on fomo:
- Trading fees. fomo “charges up to 0.05% of the position size per trade on perps”, and Hyperliquid, the exchange fomo routes to, charges its own fee on top. Both are taken from your perps cash balance “at the moment of execution, both when you open a position and when you close it.” They are left out of closed PnL.
- Funding. Hourly payments between longs and shorts that keep a perp’s price near the real price. They come out of (or go into) your margin while the position is open. They are included in closed PnL.
So a closed position’s PnL tells you what the price move and funding did. It does not tell you what you kept.
A worked example
You open a 1,000 USDC long on BTC with 100 USDC of margin at 10x leverage. The price rises 3%, you hold for two days paying 1.20 USDC of funding, and you close. fomo’s fee is taken at its published maximum, 0.05% of the position size each way.
| Step | Amount (USDC) |
|---|---|
| Price gain: 3% of 1,000 | +30.00 |
| Funding paid while open | −1.20 |
| Closed PnL fomo shows | +28.80 |
| fomo fee on opening (0.05% of 1,000) | −0.50 |
| fomo fee on closing (0.05% of about 1,030) | −0.52 |
| Hyperliquid’s fee, opening and closing | also deducted (rate on the order screen) |
| Change in your perps cash balance | less than +27.78 |
The funding figure is illustrative; real funding depends on the market and how long you hold. The point is the shape: the PnL line reads +28.80, your balance rose by less than +27.78, and the difference is fees.
Leverage makes the fee bigger relative to your money, because fees are charged on the whole position, not the margin. At 10x, fomo’s 0.05% each way is about 0.10% of the position per round trip, which is about 1% of your margin before Hyperliquid’s share. At 40x it is about 4%. A strategy that trades often at high leverage can show a positive PnL history while the balance shrinks.
How to check your real result
Add up the PnL of your closed positions over a period and compare it with how much your perps cash balance changed over the same period, allowing for any transfers in or out. The gap is the trading fees you paid. fomo says the same thing in the quote above.
The order screen shows the combined fee rate (fomo’s and Hyperliquid’s) before you trade; on mobile it is in the details row, on the web under the order button. fomo has no CSV or PDF export of trade history, so for tax records see fomo taxes and trade history.
Spot PnL works differently
For ordinary token trades, fomo describes its numbers this way (Understanding your PnL):
- While you hold a token, the percentage on the token page and your profile is your total return on that position, counting what you still hold and anything already sold.
- When you sell, “your realized PnL is calculated based on what you actually received”, at the price the trade executed on chain, which can differ from the quote on thin or volatile tokens.
- The chart on your profile is something else: total portfolio value (cash, holdings and perps equity). Withdrawals move it even though they are not losses.
- PnL refreshes about once a minute, sometimes hourly. Tokens sent in from outside are marked “Received from external wallet” and their entry price is estimated.
fomo’s spot article does not say whether trading fees are taken out of spot PnL, so we do not claim either way.
What this means for leaderboards
fomo’s leaderboards rank traders, and individual closed trades, by PnL (the feed and leaderboards). fomo does not say whether leaderboard figures follow the same perps rule, and its terms (§9) warn that these metrics “may be estimates and may differ from realized, withdrawable returns”. Read a high perps PnL on someone’s profile as “before trading fees” unless fomo says otherwise. For what perps cost in general, see fomo perps explained and our fee page.