Combo PnL doesn’t match what the exchange shows
A combo’s PnL counts only that combo’s own fills and position. The exchange shows the whole account. The two are measured differently, so the numbers won’t match line by line.
Where they differ
Scope: one account can serve several combos. Orders you place by hand on the exchange belong to no combo and aren’t counted in combo PnL.
Components: Net PnL = spread profit − trading fees + rebate + funding fee − borrow interest − network fees.
Funding: counted at each settlement time from the combo’s own combo position, its average cost and the rate for that period. The exchange’s statement totals the account and market at the price at settlement. When the combo position and the actual position differ, funding differs too.
Fees: trading fees are counted at the amount on the fill record, including any other charges the record contains. A negative fee the exchange pays on the fill counts here too. rebate is worked out separately from the rebate ratio and volume rebate you set on the account, and doesn’t appear on the exchange’s statement. When a fill record has no fee or a conversion price is missing, nothing is estimated; net PnL is then a subtotal of the known parts.
Borrow interest: for a margin spot leg, worked out from the combo position and average cost at each of the exchange’s interest times. The exchange’s statement shows the interest actually charged to the account, so the two can differ.
Network fees: what on-chain swaps pay the blockchain. They are a separate item and don’t appear on the exchange’s statement.
Starting point: if you ticked Restart P&L from now when you chose Reset for the combo, its displayed PnL starts from that moment.
How to check
On the Accounts page, select Reconciliation and confirm that the combo and actual positions match. If they differ, handle that first; see What to do about a position difference alert.
To see the funding booked for each period, open Profit and loss in the combo’s Log. Daily totals for all combos are under Funding settlements in Daily on the Statistics page.
When you compare with the exchange’s funding statement, keep the difference in mind: the combo uses its average cost, the exchange uses the price at settlement.