> ## Documentation Index
> Fetch the complete documentation index at: https://docs.parlayx.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Portfolio and Positions

> Orders, fills, positions, and per-market risk across every pod and venue.

The console gives you one view of everything trading under your organization, and lets you drill from the whole book down to a single trader.

## Three levels

| Level            | What you see                                                                  |
| ---------------- | ----------------------------------------------------------------------------- |
| **Organization** | A rollup across every pod. Total exposure, total capital at risk              |
| **Pod**          | One book. Balance, available capital, positions, and the actors trading it    |
| **Actor**        | One trader or bot. Their orders, their fills, their derived position and P\&L |

Drilling between levels changes what is aggregated, not where the data comes from. The numbers reconcile.

## Positions

Positions are not a stored guess that drifts from reality. They are computed from three sources every time they are read:

* **The venue account**, which is authoritative for what the pod actually holds
* **Fills**, which carry the actor that produced them and supply attribution
* **Settlements**, recorded at the pod

Per-actor position is the slice of the pod's position derived from that actor's own fills, anchored to the venue's snapshot. Anything the pod holds that your actors' fills do not account for — activity placed outside ParlayX, for example — is surfaced as a pod-level residual rather than being distributed across actors or quietly dropped.

<Note>
  We show the residual instead of hiding it. If your pod position and the sum of your actors' positions differ, the difference is visible and labelled, and it tells you something real about flow that did not come through ParlayX.
</Note>

A closed-out position can leave a very small holding behind — a fraction of a share below the venue's minimum order size, which cannot be sold and is redeemed at resolution instead. It stays visible here because the pod really does hold it. See [order sizing rules per venue](/venues#order-sizing-rules-per-venue).

## Realized and unrealized P\&L

Two numbers, updating on two different triggers.

**Realized P\&L** changes when something happens: a closing fill, or a market settling. From a closing trade it comes straight from that actor's own fills, net of fees. At settlement, the account is paid on its net position, and that net is attributed back to each actor by marking their fills-derived position to the resolution. It reconciles to what the venue actually paid.

**Unrealized P\&L** changes when the market moves. It is each actor's open position multiplied by the difference between the current mark and their own cost basis.

Cost basis uses a weighted average over fills in deterministic order, applied consistently to both numbers.

## Per-market risk

For any market you hold, the console shows:

|                            |                                              |
| -------------------------- | -------------------------------------------- |
| **Net exposure**           | Marked exposure to the outcome               |
| **Capital at risk**        | What is committed                            |
| **Worst case / best case** | The bounds if the market resolves either way |
| **Net delta**              | Directional exposure                         |
| **Concentration**          | This market as a share of the pod            |
| **Buying power used**      | Against the pod's available capital          |

Alongside it, a settlement scenario table: for each way the market can resolve, the live probability, your P\&L, and the payoff.

## Live updates

Positions and P\&L stream live. One connection carries whichever level you are looking at, and moving between organization, pod, and actor switches what that connection is subscribed to rather than opening a new one.

Two triggers feed it: account events — fills and settlements — which move realized P\&L and positions, and market marks, which move unrealized P\&L.

## Orders and fills

Open orders, fill history, and order lifecycle events are available at every level, always carrying the actor and the venue. An admin sees them across a pod or the whole organization. An actor, through the API, sees its own.