Understanding Your Kalshi Performance
Trading activity, deposits, withdrawals, fees, settlements, and open positions can make it surprisingly difficult to answer a simple question: how much have I actually made or lost?
Start with your question.
How much have I made?
Separate trading results from deposits, withdrawals, and open positions.
Why P&L doesn’t match your balance
The account activity that makes profit, cash, and portfolio value differ.
Realized vs. unrealized P&L
Locked-in results versus the current value of positions you still hold.
How fees affect your profit
From gross result to net result, with Kalshi’s published fee formula.
The Kalshi P&L statement
Where it is, what it includes, and why it can lag your current activity.
Your Kalshi trading history
Orders, fills, positions, settlements, and funding records explained.
Connecting the Kalshi API safely
What a read-only key allows, where it is stored, and how to revoke it.
Kalshi tax documents
The forms Kalshi says it issues, and what they do not settle.
Kalshi P&L glossary
Short definitions for the terms used across these guides.
The numbers that matter.
Most confusion comes from mixing three different things:
- Funding: deposits and withdrawals move money in and out of your account. They are not trading gains or losses.
- Trading results: what you received from sales and settlements, minus what you paid for those contracts and the fees on them, plus the current gain or loss on positions you still hold.
- Other account activity: credits, rewards, interest, and fee refunds can change your cash without coming from a trade.
Kalshi shows your cash, positions, and portfolio value in its app, and offers a yearly profit and loss statement. These guides explain how those figures relate, and how to work out the rest from your history.