Investing P&L Funds Kite

Positions P&L vs funds gains differences on Kite

From WebNotes, a public knowledge base. Last updated 20 May 2026. Reading time ~3 min.

A user closes a position on the Kite Positions tab and sees a realised P&L of Rs X. Looking at the funds page , the cash balance has not increased by exactly Rs X. The difference is normal and explained by several intervening adjustments.

The two figures are not the same thing

Figure	What it shows
Positions P&L (realised)	The pre-charge gain or loss from the trade
Funds gain (cash credit)	The net amount that lands in your account after charges and settlement

A profitable trade with positive Positions P&L will produce a positive funds gain, but the absolute amounts differ.

The intervening adjustments

1. Brokerage and exchange charges

For each trade:

Brokerage (Zerodha’s: Rs 20 flat for intraday and F&O; 0% for delivery).
STT (0.025% for delivery sells, intraday sells; different for F&O).
Exchange transaction charge (NSE / BSE / MCX).
GST (18% on brokerage + exchange charge).
Stamp duty.
SEBI fee.

Total charges per trade can be 0.05% to 0.5% of trade value. Positions P&L is gross of charges; funds gain is net.

2. Settlement timing

Equity trades settle T+1; F&O daily MTM settles same day. For a CNC sell:

Positions Day view shows realised P&L immediately.
Funds reflect the proceeds on T+1 evening (after settlement).

So on T-day, you see realised P&L on Positions, but funds have not yet moved.

3. F&O MTM accounting

For F&O positions held overnight:

Daily MTM settlement debits / credits your account at end of T-day.
Positions tab shows the position’s running P&L since open (not just T-day).
Funds reflect only the T-day MTM (the slice you keep / lose today).

A position open for 10 days will show cumulative P&L on Positions but only the last day’s MTM directly visible in T-day funds.

4. Option premium handling

Selling an option credits the premium immediately to cash. The premium is part of the position’s eventual realised P&L when closed. The chronology:

Day T (open): premium credit to cash; margin used up.
Day T+5 (close): buy-back debit; margin released.
Net cash change over the cycle: premium received - buy-back price (gross of charges).
Net realised P&L on Positions: same as the cash change minus charges.

5. Pledged collateral changes

If you pledge or un-pledge during the day, collateral value (not cash) changes. The funds page may show a higher margin available without any cash gain, because the available increased due to new pledge value.

Worked example

You sell 1 lot of NIFTY 23MAY 22000 CE at Rs 100 premium (lot size 50). The premium credit: Rs 5,000.

3 days later, you buy back at Rs 30 premium. Buy-back cost: Rs 1,500.

Net cash effect over the cycle:

Day T: +Rs 5,000.
Day T+3: -Rs 1,500.
Net: +Rs 3,500.

Positions P&L (realised, gross of charges): Rs 100 - Rs 30 = Rs 70 per share x 50 = Rs 3,500.

Funds gain (after charges, approximately):

Brokerage: Rs 40 (Rs 20 per side x 2 sides).
STT, exchange, GST, stamp duty, SEBI: Rs ~100 (illustrative).
Net cash gain: Rs 3,500 - Rs 140 = Rs 3,360.

So Positions P&L: Rs 3,500. Funds gain: Rs 3,360. Difference: Rs 140 (charges).

Where to see the breakdown

For an exact reconciliation:

Console > Reports > Tradebook for trade details.
Console > Reports > Trade P&L for net (after charges) P&L.
Console > Reports > Charges Statement for charge breakdown per trade.

These reports show the gross P&L, charge details, and net P&L. The funds account balance change equals the net P&L (with settlement timing applied).

External references

References

Zerodha Support, Trade P&L and net cash impact, support.zerodha.com.
Zerodha Console, Charges statement methodology, console.zerodha.com.
SEBI, Charges and STT framework, sebi.gov.in.

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WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 20 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.