> For the complete documentation index, see [llms.txt](https://guide.laevitas.ch/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guide.laevitas.ch/concepts/notional.md).

# Notional

{% hint style="info" %}
The notional value refers the total value of the derivative contract it holds and calculated by multiplying the total number of units that are there in the contract with the spot price of the said units prevailing in the market.

\
**Notional Value = Total Units in the Contract \* Spot Price**
{% endhint %}

For example,

<table><thead><tr><th width="150">Ticker</th><th width="150">Index Price</th><th width="190.26330591085537">USD (24h Volume)</th><th width="222.955293714284">Notional (24h Volume)</th></tr></thead><tbody><tr><td>BTCUSDT</td><td>$20,000</td><td>$14,000,000,000</td><td>700,000</td></tr><tr><td>ETHUSDT</td><td>$1,000</td><td>$5,000,000,000</td><td>500,000,000</td></tr></tbody></table>