The Transaction Label "Close Perp" is used to record incoming assets from perpetual futures trading (e.g. Profits from exiting perpetual futures DEX products) in your integrations.
Profits and the acquisition costs of the incoming assets received trough Close Perp are determined based on the current market value.
Within a tax year, losses from "Open Perp" transactions are automatically offset against gains from "Close Perp" transactions.
❗ Liquidation: A fully liquidated position does NOT need to be added with the "Close Perpe" label, as the potential total loss has already been accounted for when the position was opened.
🎓 More details on the tax implications and categorization of all transaction labels can be found in the tax results under the menu item “Reports” and in the last pages of your tax report.
How do I create a Close Perp transaction?
Open your Blockpit Account and click on the menu item Transactions.
Now select + Transaction.
Enter the Date and Time of the transaction.
In case of a manually created transaction directly in the WebApp, use your local time.
If the transaction is imported via CSV/Excel, use the standard exchange time UTC.
Now select the Transaction Label Close Perp.
Now enter the Integration, Asset and Amount. If you paid Fees, enter them with quantity and currency as well.
Tip: In the input fields for assets, you can enter the short name (BTC) or long name (Bitcoin) as a search term to narrow down the search of the displayed list. If your asset is not selectable, you can get more information here.
Finally, click Save to complete the process and display the transaction in the Integration.
How do manually created transactions affect my balance?
Manual Integration (CSV/Excel)
Incoming and outgoing transactions created within a manual integration directly affect the displayed asset balance of that integration.
Automatic Exchange or Blockchain Integration (API)
Incoming and outgoing transactions created manually within an automatic exchange or blockchain integration do not affect the automatically imported Synced Balance of that integration. However, they can affect the Calculated Balance and therefore influence the results shown in your tax report.
How are fees considered for Close Perp transaction?
Example: Close Perp of 0.1 BTC with 0.0001 BTC fee.
Fees are mostly considered on the withdrawal side, but can also occur on deposits.
Fees, if paid in the incoming asset, will be considered as follows:
If fees are paid in the incoming asset:
Case1: No additional fee on the deposit side.
Incoming Amount: Net transaction amount (amount excluding fees)
Fees Amount: Enter nothing or 0
Case2: Additional fee on the deposit side.
"If the fee is paid in the incoming currency, the input must be increased by the amount of the fee. The fee will be treated as a separate outflow."
Incoming Amount: Net transaction amount (amount excluding fees) + fee amount
Fee Amount: Enter fee amount as well