Portfolio Management
Positions & PnL
From an entire portfolio perspective, you can view all of your open positions under “My Portfolio”, “Trading Account”, then “Positions & PnL”.
Positions
In the Positions section, you will find the main portfolio metrics:
Net Asset Value (denoted, "NAV") and its change (in USD) since last close
Breakdown of NAV into Cash and Position's MTM
Current Borrow Limit and Health Score as the main liquidation metrics
PnL
The PnL section shows daily PnL and cumulative PnL for all the tokens, in local currency and in USD.
User can choose to see the data on a Month-To-Date (MTD), Year-To-Date (YTD), Inception-To-Date (All Time) and Live basis:
MTD, YTD and All Time are computed by subtracting the Initial NAV to the Previous Close NAV (i.e. last 8am UTC NAV)
The Live PnL however, is the PnL from previous close to real-time or close-to real-time NAV (as of Last Updated time in the top right corner)
The graph on the left hand side displays: a bar chart (stacked) showing the daily PnL for different tokens selected, and a line which adds up this daily data and shows the cumulative PnL.
Cash Positions
This section details the Cash part of the portfolio, i.e. any token in the trading account, as opposed to Positions which refer to Lend/Borrow trades.
The Cash Balance is influenced by:
Deposits/withdrawal from the user
Realized gains/losses from positions opened then closed, or expired
Tokens received from a Borrow position, or withdrawn by a Lend position
Interest paid/received on Fixed Rate Position, or when exiting a Floating Rate Position
Cash is split between Free Cash (accessible, can be withdrawn) vs Locked Cash (not accessible, cannot be withdrawn):
Part of your Cash is locked when you place a limit order, i.e., tokens set aside in case the order is filled
In addition, part of your assets will not accessible in order to satisfy Initial Margin requirements. These assets are not necessarily only cash, they can also be Lend Positions. However, cash is more liquid and will be locked first ahead of the latter
Locked Cash is therefore the sum of locked Tokens for limit order and Initial Margin purposes
Cash = Free Cash + Locked Cash
Position Details
The Position Details section focuses on outstanding Lend/Borrow positions on each market.
You can find:
The notional (in local currency and USD)
The weighted average rate for each fixed rate market
The present value (PV) of his positions
The PV01: PV impact in local currency by shifting the relevant yield curve up by 1 bps
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