Unrealized PnL

Also called unrealised PnL · mark-to-market · open PnL

Profit or loss on positions still open, marked at current prices — real on a screen, not yet real in a balance.

Polymarket position rows carry the open mark-to-market component and the realised component separately, and this site keeps them separate all the way through — a wallet has an open book value and an unrealised figure, and the aggregate view carries both rather than one blended number.

The trap is that unrealised profit is marked at a price, and a price is only as real as the book behind it. A large position in a thin market is marked at a level you could not exit at in any size, so the figure overstates what closing the position would actually produce. This is the same depth problem that governs entries, arriving on the way out.

Two further cautions. Unrealised profit swings hardest immediately before settlement, when contracts race between zero and one and a position can travel most of its lifetime range in an afternoon. And unrealised profit is not a substitute for a track record: because winners are redeemed out of the open positions feed, total profit has to come from the official leaderboard endpoint. Summing an open book to judge lifetime performance produces a number that is confidently wrong.

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Definitions describe how Polymarket and Kalshi behave and how WhaleTracks models them; venue rules and fee schedules can change, so confirm anything you size a position on with the venue itself. WhaleTracks is informational analytics, not financial advice. Past performance does not guarantee future results.