Introduction
Understanding performance indicators is essential for anyone participating in Flipster Copy Trading. Whether you are evaluating potential Master Traders or tracking your own copied portfolio, these metrics provide insight into profitability, risk, and consistency.
Flipster calculates performance metrics using Total P&L (realized + unrealized, after fees) and ROI based on Peak Capital to ensure transparent and fair comparisons across all Master Traders. All values are displayed in USDT and typically update every 10 minutes.
Important:
With the introduction of Fixed Multiplier Mode, your actual P&L and risk exposure may differ from the Master Trader’s metrics, as your positions can be scaled based on your selected multiplier.
Key Performance Metrics
Flipster provides several key indicators to help Copy Traders evaluate Master Traders:
| Metric | Definition |
| ROI (Return on Investment) | Measures portfolio efficiency relative to Peak Capital. |
| P&L (Profit & Loss) | Total realized and unrealized profit after fees. |
| Sharpe Ratio | Risk-adjusted returns; higher values indicate more stable gains relative to volatility. |
| Maximum Drawdown (MDD) | Largest percentage drop from peak ROI to the lowest point. |
| Win Rate | Percentage of profitable closed positions. |
| Trading Volume | Total volume traded across all USDT perpetual pairs. |
| Turnover Rate | Trading activity relative to average asset balance. |
| AUM (Assets Under Management) | Total margin of a Master Trader and their copiers combined. |
P&L (Profit and Loss)
P&L reflects a Master Trader’s profitability, accounting for both open and closed positions.
Formula
Total P&L = (Current Margin Balance – Initial Margin Balance)
- Accumulated Deposits
+ Accumulated Withdrawals
Components
- Current Margin Balance: Includes unrealized P&L
- Initial Margin Balance: Portfolio balance at creation
- Deposits/Withdrawals: Net fund movements
- Fees: Includes trading fees (maker/taker), funding fees, and other applicable costs
Example
| Item | Value (USDT) |
| Initial Margin Balance | 1,000 |
| Current Margin Balance | 1,400 |
| Accumulated Deposits | 600 |
| Withdrawals | 0 |
| Total P&L | -200 USDT |
Note for Copy Traders:
In Fixed Multiplier Mode, your P&L will be scaled according to your multiplier, meaning gains and losses may be larger than the Master Trader’s percentage movements.
ROI (Return on Investment)
ROI shows how effectively a portfolio grows relative to Peak Capital.
Formula
ROI = (Total P&L ÷ Peak Capital) × 100%
Peak Capital
Peak Capital represents the highest total capital in the portfolio, including initial deposit and net deposits. This method prevents ROI distortion due to deposits and withdrawals.
Peak Capital = Max (Initial Deposit + Net Deposits)
Example
| Day | Margin Balance | Deposit | Withdrawal | Peak Capital | ROI (%) |
| 1 | 1,000 | – | – | 1,000 | 0% |
| 7 | 1,400 | +600 | – | 1,600 | 25.0% |
| 9 | 1,300 | – | – | 1,600 | 18.8% |
| 12 | 1,700 | +400 | – | 1,700 | 35.3% |
Important:
ROI displayed for Master Traders is not affected by your multiplier, but your actual returns may differ depending on your copy settings.
Sharpe Ratio
The Sharpe Ratio measures risk-adjusted performance, how much return is earned relative to volatility.
Formula
Sharpe Ratio = (Mean Daily Return × 365) ÷ (Standard Deviation of Daily Return × √365)
Interpretation
| Sharpe Ratio | Meaning |
| > 3.0 | Excellent risk-adjusted returns |
| 2.0 – 3.0 | Very good |
| 1.0 – 2.0 | Moderate |
| < 1.0 | Risky or unstable |
- Calculated from daily ROI
- Annualized and updated every 10 minutes
- Requires ≥30 days of data
Maximum Drawdown (MDD)
MDD shows the largest decline from peak to trough in ROI, highlighting downside risk.
Formula
MDD = MAX (Peak ROI – Lowest ROI After Peak)
Example
| Day | ROI | Peak ROI | Drawdown (%) |
| 1 | 10% | 10% | – |
| 2 | 15% | 15% | – |
| 3 | 8% | 15% | 7% |
| 4 | 5% | 15% | 10% MDD |
- Lower MDD indicates better capital preservation
- <20%: low risk, 20–40%: moderate, >40%: high (varies by trading style and leverage)
Multiplier Note:
Using a higher multiplier can amplify drawdowns, meaning your actual losses may exceed the Master Trader’s observed MDD.
Win Rate
Win Rate is the percentage of profitable closed positions.
Formula
Win Rate = (Profitable Closed Positions ÷ Total Closed Positions) × 100%
- Only fully closed positions count
- Partial closes are not counted as separate trades
Tip: Consider Win Rate along with ROI and MDD for a complete view of risk and reward.
Other Key Metrics
| Metric | Definition |
| AUM (Assets Under Management) | Total margin held by Master Trader and all copiers |
| Trading Volume | Total notional volume traded across USDT perpetual pairs |
| Turnover Rate | Trading activity relative to average asset balance |
These help evaluate the scale, activity, and style of the Master Trader.
Evaluating Master Traders Effectively
When choosing a Master Trader:
- Check consistency – Compare performance across multiple timeframes
- Prioritize risk-adjusted returns – High ROI alone is not sufficient
- Understand trading behavior – Turnover and position sizing indicate aggressiveness
- Review trading history – Longer history provides more reliable insights
- Assess risk metrics – Focus on Sharpe Ratio, MDD, and Win Rate
Multiplier Consideration:
- If you plan to use Fixed Multiplier Mode, prioritize traders with:
- Lower drawdowns
- Stable Sharpe Ratios
- Consistent performance
Conclusion
By understanding these performance indicators, you can make informed decisions when selecting Master Traders and managing your Copy Trading portfolio on Flipster.
Use ROI, P&L, Sharpe Ratio, MDD, and Win Rate collectively to balance risk and reward.
Important:
With Fixed Multiplier Mode, your actual performance may differ from the Master Trader due to amplified exposure. Always consider your multiplier settings alongside these metrics to manage risk effectively.
Risk Warning:
Trading in cryptocurrency involves risk and potential losses. Before trading, please make your investment decisions cautiously by considering your investment objectives, experience, and risk tolerance. You are solely responsible for your investment decisions, and Flipster is not liable for any losses you may incur. Derivatives trading, in particular, is subject to high market risk and price volatility. Please obtain independent advice where appropriate. This information should not be construed as financial or investment advice.
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