For a LONG position:

$\text{Unrealized P\&L} = \text{Quantity} \times (\text{Best Bid Price} – \text{Average Entry Price})$

Unrealized P&L=Quantity×(Best Bid Price−Average Entry Price) Where:

• Quantity: Amount of contracts or units held.
• Best Bid Price: Current highest price at which buyers are willing to purchase the asset.
• Average Entry Price: Average price at which the position was entered.