How this calculator works
A futures contract gains or loses a fixed amount of money for each point the quoted price moves. That amount, the point value, differs by contract: an equity index future might pay $50 per index point, while an agricultural contract uses cents per bushel. The tick size is the smallest quoted increment, and the tick value is the point value times the tick size. A long position profits when the price rises; a short position profits when it falls. This calculator uses the entry and exit prices and the number of contracts. It ignores commissions, exchange and clearing fees, bid-ask slippage and the daily variation margin. Futures are marked to market each day, even though the total result is the same as the move over the holding period.
Formula
Long profit or loss = (exit price - entry price) x point value x contracts. Short profit or loss = (entry price - exit price) x point value x contracts. Ticks moved = points moved / tick size. Tick value = point value x tick size.
Worked example
A long position of two contracts with a $50 point value enters at 4,500 and exits at 4,520. The move is 20 points, so the profit is 20 x $50 x 2 = $2,000. With a tick size of 0.25, the move is 80 ticks and each tick is worth $12.50 per contract.
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Frequently asked questions
What is the point value?
It is the contract multiplier: the dollar amount one index or price point represents for one contract. Check the exchange contract specification, because it differs by product and can change.
Why does the direction matter if I have both prices?
The two prices do not say which one you bought or sold at. A long position entered at 4,500 and exited at 4,520 gains, while a short position with those trades loses.
Is the profit available before expiry?
It is settled through daily variation margin, so gains and losses are credited or debited each day. Closing the position realises the remainder. This model shows the total over the holding period.
What about rolling a position?
Rolling closes one contract month and opens the next, which creates two transactions and possible costs. This calculator treats the position as a single entry and exit.