Calculate a linear payoff before costs
Choose a cryptocurrency, direction, entry price, quantity in coins and leverage. Use a manual exit price or request a spot reference. Quantity is the underlying amount, not an exchange contract count: apply any contract multiplier before entering it. The model uses USD values and does not support inverse coin-settled contracts.
Separate exposure from leverage
Entry notional = entry price × quantity. Modeled initial margin = entry notional / leverage. Long P&L = (exit − entry) × quantity; short P&L reverses the difference. Return on initial margin = P&L / modeled margin × 100%. At fixed quantity, leverage changes margin and its percentage return, not dollar P&L.
For an illustrative long of 0.2 coins at $50,000, exit $52,000 and leverage 10×, entry notional is $10,000, modeled margin is $1,000, gross profit is $400 and return on margin is 40%. At 5×, the same $400 profit is a 20% return on $2,000 margin. No fees or funding are included.
Zero margin is different from liquidation
The simplified zero-margin price is entry × (1 − 1/leverage) for a long and entry × (1 + 1/leverage) for a short. For the example long, it is $45,000. Bybit's bankruptcy-price documentation identifies this isolated linear-contract calculation separately from account-level margin modes.
Its contract FAQ distinguishes maintenance-margin liquidation from bankruptcy. An actual trigger depends on contract and account rules. This calculator has no maintenance-margin tier, extra collateral or other-position input, so it cannot reproduce that trigger. Do not interpret the displayed reference as available room for a stop.
Use a contract price for a contract scenario
The optional quote is a spot reference, not a futures mark, last trade or executable bid/ask. Enter a price from the relevant contract when comparing a planned exit. The calculation continues arithmetically beyond the zero-margin reference; it does not prove a real leveraged position could survive to that price.