How it works
This calculator models linear contracts quoted and settled in the selected currency. Inverse and quanto contracts need different formulas and are not covered. Enter the actual units per contract as the multiplier.
The formula
Keep currency, units and time periods consistent. Percentage inputs use percentage points (enter 5 for 5%). Results are rounded only for display; tiny nonzero values may use scientific notation. Undefined ratios are shown as unavailable.
A long from $100 to $110 for 2 units at 5x has $200 notional and $40 initial margin. Fees of 0.05% per side total $0.21. Net P&L is $19.79 and return on margin is 49.48%.
Calculation method
Price change and quantity determine gross P&L. Leverage changes estimated initial margin; it does not multiply gross P&L a second time. Return on margin therefore differs from return on entry notional.
Interpretation
Funding received adds to the result and funding paid subtracts from it. The scenario ignores whether liquidation would have occurred before the selected exit. Use the liquidation tool separately and review platform-specific rules.
Method and reference sources
Method and content checked 2026-09-20. These sources provide background, not endorsement or professional certification. The formula and limitations above define this calculator.
- CME Group — Calculating futures profit or lossContract size and price-movement context; verify your broker or exchange specification separately.
- Investor.gov — Understanding FeesInvestment fee and compounding context; enter the terms of your fund or account.
Frequently asked questions
Can I use inverse contracts in this tool?
The model uses linear price exposure. Inverse or coin-margined contracts may require a different payoff formula; confirm the contract specification before applying the result.
What is a worked example for Futures P&L?
A long from $100 to $110 for 2 units at 5x has $200 notional and $40 initial margin. Fees of 0.05% per side total $0.21. Net P&L is $19.79 and return on margin is 49.48%.