Exit price is the price at which a trade actually closes all or part of a position. It is a completed transaction price, rather than simply a profit target, stop trigger or quote observed before submitting the order.
Closing may involve several prices
An exit order can fill in pieces as it encounters available liquidity. Suppose a two-unit position closes one unit at 110 and one at 114. Its quantity-weighted average exit price is 112. This example assumes equal units and excludes costs.
A market exit prioritizes obtaining available execution, with possible slippage. A limit exit constrains the acceptable price but may leave exposure open. A displayed liquidation threshold likewise should not be treated as a guaranteed closing price.
How the exit affects results
For a simple linear long, a higher exit price improves gross PnL relative to the same entry; a short benefits from a lower exit. Fees, funding and contract design determine the final net amount and settlement currency.
A partial exit realizes the result only for the closed quantity. The remaining position continues to carry price risk, and its outstanding protective orders may need adjustment. Checking executed quantity alongside exit price prevents mistaking a partial close for a complete one.