How is futures P&L calculated?

P&L = (exit price - entry price) x contract multiplier x number of contracts, with the sign flipped for short positions. Long 2 MES from 5,200.00 to 5,210.00 is 10 points x $5 x 2 = $100 gross.

What is the difference between gross and net P&L?

Gross P&L is the pure price move in dollars. Net P&L subtracts a round trip of commissions and fees - two sides per contract. The same $100 gross MES trade nets $96.20 at NinjaTrader Free's $0.95 all-in per side (as of 11/13/2025, 2 contracts).

Why do the broker cost presets show as-of dates?

Commissions and fee schedules change without notice, so every preset carries the date its figure was published or fetched. Tick sizes and multipliers are exchange-defined and stable; broker costs are not. Verify current rates with the broker before trading.

Does the calculator handle short positions?

Yes. Select Short and the sign flips: profit when exit is below entry, loss when exit is above. Shorting futures requires no borrow or locate - selling a contract you do not own is the ordinary mechanics of the product.

Are the broker cost presets complete all-in costs?

Only where labeled all-in (NinjaTrader's sheet includes NFA, clearing, and commission). Tradovate and IBKR presets are commission only - exchange, clearing, and regulatory fees are additional. tastytrade includes its listed $0.30 clearing/exchange/NFA add-on. Each label says which.

Futures P&L Calculator

By Diego · Published 2026-06-05 · Last reviewed 2026-06-05

P&L = (exit − entry) × multiplier × contracts, sign-flipped for shorts. Enter a planned or completed trade and this calculator returns the move in points, ticks, and dollars — gross, and net of a round trip at dated per-side broker costs.

The formula

Futures P&L is linear: every point of price movement is worth the contract multiplier, in dollars, per contract.

Gross P&L = (exit − entry) × multiplier × contracts (× −1 for shorts)

Net P&L = gross − 2 × per-side cost × contracts

The “2” is the round trip — you pay the per-side cost once to open and once to close.

Worked examples

Long 2 MES, 5,200.00 → 5,210.00

Move: 10 points = 40 ticks (10 ÷ 0.25)
Gross: 10 × $5 × 2 = $100
Net at NinjaTrader Free $0.95/side all-in (as of 11/13/2025): $100 − 2 × $0.95 × 2 = $96.20

Short 1 MNQ, 21,000.00 → 21,010.00

Price rose 10 points against the short: 40 ticks
Gross: −10 × $2 × 1 = −$20
Costs make a loss slightly worse: at IBKR's $0.25/contract commission (first 1,000/mo, as of 2026-06, fees additional), the round trip adds $0.50 plus exchange/regulatory fees.

Long 3 MCL, $78.00 → $77.40

Move: −$0.60/barrel = −60 ticks ($0.60 ÷ $0.01)
Gross: −0.60 × $100 × 3 = −$180

Why costs matter more on micros

Commissions do not scale 1:10 with contract size. At NinjaTrader Free rates (as of 11/13/2025), MES costs $0.95 per side against a $1.25 tick — a round trip eats ~1.5 ticks of edge — while ES costs $2.88 per side against a $12.50 tick, well under half a tick. The percentage drag is roughly three times heavier on the micro. The MES vs ES comparison works through the full math, and the broker commissions table has dated per-side rates for four brokers.

Reading the cost presets

NinjaTrader (all-in, stamped 11/13/2025) — the per-side figure includes NFA, clearing, and commission. MES/MNQ/MYM/M2K $0.95; MGC $1.20; MCL $1.10 on the Free plan.
Tradovate (commission only, as of 2026-06) — $0.39/$0.29/$0.09 per side by plan; exchange, clearing, and NFA fees additional.
IBKR (commission only, as of 2026-06) — $0.25/contract for the first 1,000 contracts/month on both Tiered and Fixed; fees additional.
tastytrade (as of 2026-04-06) — $0.75 per side plus its listed $0.30/contract clearing + exchange + NFA add-on; the preset includes the $0.30.

FAQ

How is futures P&L calculated?: P&L = (exit price - entry price) x contract multiplier x number of contracts, with the sign flipped for short positions. Long 2 MES from 5,200.00 to 5,210.00 is 10 points x $5 x 2 = $100 gross.
What is the difference between gross and net P&L?: Gross P&L is the pure price move in dollars. Net P&L subtracts a round trip of commissions and fees - two sides per contract. The same $100 gross MES trade nets $96.20 at NinjaTrader Free's $0.95 all-in per side (as of 11/13/2025, 2 contracts).
Why do the broker cost presets show as-of dates?: Commissions and fee schedules change without notice, so every preset carries the date its figure was published or fetched. Tick sizes and multipliers are exchange-defined and stable; broker costs are not. Verify current rates with the broker before trading.
Does the calculator handle short positions?: Yes. Select Short and the sign flips: profit when exit is below entry, loss when exit is above. Shorting futures requires no borrow or locate - selling a contract you do not own is the ordinary mechanics of the product.
Are the broker cost presets complete all-in costs?: Only where labeled all-in (NinjaTrader's sheet includes NFA, clearing, and commission). Tradovate and IBKR presets are commission only - exchange, clearing, and regulatory fees are additional. tastytrade includes its listed $0.30 clearing/exchange/NFA add-on. Each label says which.

Size the trade before you price it:

Position size calculator Tick value calculator Broker commissions

Sources

NinjaTrader — futures commissions PDF — all-in per-side rates, stamped 11/13/2025
Tradovate — pricing — per-side commissions by plan, as of 2026-06
Interactive Brokers — futures commissions — micro rate, as of 2026-06
tastytrade — commissions & fees — PDF stamped 2026-04-06