Position

A position is an account’s current long or short economic interest in an instrument, measured by quantity, direction, price basis, and exposure.

A position changes when orders fill, corporate or protocol events occur, or part of the quantity is closed. Its displayed value and unrealized P&L depend on the platform’s mark price, while closing converts some or all of that result into realized P&L. Position records should be distinguished from pending orders, which may create or alter exposure only if they execute.