Futures Calculator
Key takeaways
- This position controls ₹15.28 L of contract value (₹23,500 × lot size 65 × 1 lot) on ₹1.78 L of margin — 8.6× leverage.
- Each 1-point move is worth ₹65 (lot size × lots), so the 200-point rise is a ₹13,000 gain on this long.
- A 0.85% move in the price became a 7.3% return on the margin — leverage scales gains and losses by the same 8.6× factor.
- With the exit 1% below the entry (₹23,265), the P&L would be −₹15,275 — 8.58% of the margin.
P&L across exit prices
Bought first (long) — a rise from the entry is a profit and a fall is a loss. The dot marks the exit price entered above.
About the Futures Calculator
The Futures Calculator works out the profit or loss on an exchange-traded futures position — index futures such as Nifty or Bank Nifty, or single-stock futures — where the P&L scales with the LOT rather than with a single share, and where only a fraction of the contract's full value (the margin) is actually put up to hold the position.
Enter the price the position was taken at, the price it was closed at, the lot size (the fixed number of units in one lot of that contract — the exchange sets this per instrument and revises it periodically, so check the current lot size for the contract you are sizing), how many lots the position holds, and the margin your broker requires per lot. Choose Buy (Long) for a position opened by buying and Sell (Short) for one opened by selling: a long gains when the price rises between the two, and a short gains when it falls.
"P&L" is the total profit or loss across every lot at the two prices entered. "Margin deployed" is the margin tied up (margin per lot × number of lots) — the capital actually at stake, far smaller than the contract's full notional value. "Return on margin" expresses that P&L as a percentage of the margin deployed, which is why a modest point move produces a large percentage swing: leverage scales gains and losses by the same factor, in both directions. "Point change" is the plain price movement, before lots or margin enter the arithmetic.
The figures here are the arithmetic of two prices you supply, not a projection of anything. Charges are not modelled: STT at 0.05% of the sell value, stamp duty at 0.002% of the buy value, brokerage, exchange and SEBI fees, and GST on the fees all come off the P&L shown. Neither is the way margin actually behaves over the life of a position: requirements are set by the exchange and your broker, typically rise in volatile markets, and can be called mid-position. This calculator uses only the single margin-per-lot figure entered. Return on margin shows an em dash when margin per lot is zero, since there is then no margin for the P&L to be a return on.
Frequently asked questions
How is futures P&L calculated?
Point change = Exit price − Entry price. P&L = Point change × Lot size × Number of lots for a long, and the same with its sign reversed for a short. Nothing is deducted for charges — this is the gross figure.
What is "return on margin", and why is it so much larger than the price move?
It is P&L ÷ Margin deployed × 100. The contract's notional value is many times the margin put up, so a 1% move in the price becomes a much larger percentage of the margin — in whichever direction the price moved. That multiple is the leverage figure shown in the Key takeaways card, and it applies to losses exactly as it applies to gains.
How do I use this for a short position?
Choose Sell (Short) as the position, enter the price you sold at as the entry and the price you bought back at as the exit. A fall from the entry is then shown as the profit it is, and the payoff line slopes the other way.
Where do I get the lot size and the margin per lot?
Lot size is set by the exchange for each contract and is revised periodically, so take the current figure from the exchange or your broker's contract specifications. Margin per lot comes from your broker's margin calculator for that specific contract — it varies by instrument and changes with volatility.
Does this include brokerage, STT and other charges?
No. This is the gross P&L on the two prices entered. STT on futures is 0.05% of the sell value and stamp duty 0.002% of the buy value; brokerage, exchange and SEBI fees and GST on the fees come on top. All of them reduce a profit and deepen a loss.
What does the payoff chart show?
P&L across a range of exit prices, holding lot size, lots and the entry fixed. It is a straight line because futures P&L is linear in the price: each one-point move is worth lot size × lots, rising with the price for a long and falling with it for a short. It crosses zero exactly at the entry price, which is why the entry is marked as the breakeven, and the dot marks the exit price entered above.
Disclaimer: This calculator is for information and education only. It is not investment advice and not a recommendation or a tip, and it does not predict prices. Trading in shares and derivatives carries a risk of loss: futures and sold options are leveraged, and a loss on them can exceed the margin paid. Brokerage differs by broker, and brokerage, taxes and exchange charges change over time. SEBI’s studies found that 93% of individual traders in equity futures and options made losses between FY22 and FY24, and 87.7% did in FY26. Every figure is computed solely by applying the formula and assumptions stated on this page to the inputs you entered.