[Spot Grid] What Does “Total Profit” Include in Spot Grid?

In Spot Grid, Total Profit is the key indicator for measuring the overall performance of a strategy.
However, it is not simply the sum of buy-sell differences — it consists of three parts:
Unsettled Profit, Settled Profit, and Floating PnL.
Understanding these components helps users accurately assess real returns and avoid misjudging gains or losses.

1. Definition and Features of Each Component

(1) Unsettled Profit

Unsettled Profit refers to profits generated from completed grid arbitrage trades within the current day that have not yet been transferred to the user’s spot account.
After each “buy low, sell high” cycle, the system deducts trading fees and records the net profit as Unsettled Profit.

Example:
If a grid performs three profitable trades in one day — earning 15, 12, and 18 USDT respectively — the total Unsettled Profit for the day (after fees) is 40 USDT.

Feature:
This value resets daily. The system automatically settles all Unsettled Profit at 00:00 (UTC 8) each day and transfers it to the user’s spot account. After settlement, the day’s Unsettled Profit resets to zero and starts accumulating again.

(2) Settled Profit

Settled Profit is the cumulative sum of all profits that have already been transferred to the user’s spot account — i.e., all previously settled Unsettled Profits.

Example:

• On Oct 1, Unsettled Profit = 35 USDT → settled and transferred on Oct 2 → Settled Profit = 35 USDT
• On Oct 2, Unsettled Profit = 42 USDT → settled and transferred on Oct 3 → Settled Profit = 35 42 = 77 USDT
• On Oct 3, before 00:00, Unsettled Profit = 28 USDT → not yet settled, so total Settled Profit remains 77 USDT

Feature:
Settled Profit represents realized and withdrawable profit.
It is fully available for use — users can reinvest it into grid strategies, buy other tokens, or withdraw it at any time.

(3) Floating PnL (Unrealized Profit and Loss)

Floating PnL represents the value change of the current held base asset (e.g., BTC, ETH) compared with its total purchase cost.
It reflects unrealized gains or losses caused by market price fluctuations.

Formula:
Floating PnL = Current Market Value of Held Assets – Total Purchase Cost

Example:

• Bought 10 tokens at 200 USDT → Cost = 2000 USDT
• If the price rises to 220 USDT → Value = 2200 USDT → Floating PnL = 200 USDT
• If the price drops to 180 USDT → Value = 1800 USDT → Floating PnL = –200 USDT

Feature:
Floating PnL is unrealized and fluctuates with the market.
Only when the held asset is sold by the grid does this value convert into Unsettled Profit, and then into Settled Profit at daily settlement.

(4) Total Profit

Total Profit provides a comprehensive measure of overall strategy performance:

Formula:
Total Profit = Unsettled Profit Settled Profit Floating PnL

This formula captures all three aspects of a strategy’s earnings:

• Settled Profit → realized and transferred profit
• Unsettled Profit → today’s pending profit
• Floating PnL → current unrealized gain/loss

By combining all, Total Profit reflects a complete, objective picture of the strategy’s profitability.

2. Example of the Relationship Between the Indicators

Example:
A user creates a BTC/USDT grid on Oct 1 with 10,000 USDT capital.
As of Oct 3, 14:00:

• Unsettled Profit: 30 USDT (from two trades completed today, not yet settled)
• Settled Profit: 40 35 = 75 USDT (profits from Oct 1–2 already settled)
• Floating PnL:
  Current BTC cost = 6000 USDT
  Current market value = 6200 USDT → Floating PnL = 200 USDT

✅ Total Profit = 30 75 200 = 305 USDT

This means the grid has generated an overall gain of 305 USDT, composed of 75 USDT realized, 30 USDT pending settlement, and 200 USDT unrealized profit.

3. Why Understanding Total Profit Matters

⚠️ Avoid Partial Judgments

• Looking only at Settled Profit (75 USDT) underestimates total return by ignoring Unsettled and Floating PnL.
• Looking only at Floating PnL (200 USDT) may overestimate returns since it reflects only paper gains.

📊 Support Smarter Adjustments

By tracking all components, users can judge whether the strategy is performing as expected:

• If most profit comes from Floating PnL while Unsettled Profit is low → consider increasing grid count or narrowing price range to improve trade frequency.
• If Floating PnL is negative but Total Profit remains positive → it means arbitrage income has offset temporary losses, and the strategy is still profitable overall.