Futures Break-Even Calculator

How to use this tool

1. Select direction and enter the average filled entry price.
2. Copy tick size and dollar tick value for the exact contract.
3. Enter whole-contract quantity and current round-turn commission per contract.
4. Estimate slippage across both entry and exit and add other position-level costs.
5. Use the minimum whole-tick output because futures prices must follow valid increments.
6. After closing, reconcile the estimate against actual fills and statement charges.

See the calculation in context

Two contracts with $5 total commission and $1 of slippage have $6 in costs. If the position earns $1 per tick, six favorable ticks are needed to recover those entered costs.

Calculation method

Total costs = commissions + expected slippage + other costs. Exact recovery ticks = total costs ÷ position tick value. The tradable break-even rounds that tick count up, then adds the movement to a long entry or subtracts it from a short entry.

Common mistakes

1. Using points instead of the minimum tick size
2. Forgetting to multiply fees by contract quantity
3. Counting slippage on only one side without intending to
4. Rounding the required tick count down
5. Using a full-size specification for a micro contract
6. Treating estimated break-even as a guaranteed fill level

Questions and answers