F&O Margin Calculator
Select an index, enter current price and number of lots — get instant SPAN + exposure margin breakdown and scale table for 1 to 20 lots.
F&O Margin Calculator
Calculate SPAN + exposure margin required for Nifty, BankNifty and other index F&O futures positions.
| Component | % | Amount |
|---|---|---|
| Contract Value | 100% | ₹18.38 L |
| SPAN Margin | 9% | ₹1.65 L |
| Exposure Margin | 4% | ₹73,500 |
| Total / Lot | 13.0% | ₹2.39 L |
| Lots | Contract Value | Total Margin |
|---|---|---|
| 1 | ₹18.38 L | ₹2.39 L |
| 2 | ₹36.75 L | ₹4.78 L |
| 5 | ₹91.88 L | ₹11.94 L |
| 10 | ₹1.84 Cr | ₹23.89 L |
| 20 | ₹3.67 Cr | ₹47.77 L |
About F&O Margin Calculator
The F&O Margin Calculator helps you understand the capital required to hold a futures position on Indian index contracts — before you place the trade. Unlike cash equity, F&O positions require you to maintain a minimum margin with your broker at all times. Falling below this threshold triggers a margin call, forcing you to either top up or square off the position.
Futures margin in India is calculated as SPAN (Standard Portfolio Analysis of Risk) plus Exposure margin. SPAN is the primary component — it estimates the worst-case loss across a portfolio of positions over a single trading day using a risk array methodology. Exposure margin is an additional buffer, typically 3.5–4.5% of contract value, collected on top of SPAN.
The total margin requirement varies by index, price level, and current market volatility. NSE revises SPAN daily via their SPAN calculator. This tool uses recent indicative percentages for quick planning — always verify exact requirements on nseindia.com before trading, especially around high-volatility events like Budget, RBI policy announcements, or F&O expiry.
The calculator supports all major NSE index futures: Nifty 50 (lot: 75), BankNifty (lot: 30), FinNifty (lot: 40), MidCap Nifty (lot: 75), and BSE Sensex (lot: 10). Select an index to auto-fill standard lot size and margin percentages, then enter current price and number of lots to see the total margin required.
How to Use the F&O Margin Calculator
Select the index (Nifty 50, BankNifty, FinNifty, MidCap Nifty, or Sensex) — lot size and margin percentages are auto-filled.
Enter the current futures price in the "Current Price" field. The tool defaults to recent indicative price levels.
Set the number of lots using the preset buttons (1, 2, 5, 10) or type a custom lot count.
Optionally adjust SPAN and Exposure margin percentages if you have updated values from NSE SPAN Calculator.
Read the total margin in the result card. Use the Lots Scale table to compare capital requirements across position sizes.
Pro Tips
NSE publishes updated SPAN files every day before market open. Margin requirements increase during high-volatility periods — always check nseindia.com → SPAN Calculator before sizing a new position.
Never use 100% of your capital as margin. Prices move against you after entry — a standard rule is to keep 20–30% additional buffer above initial margin to avoid forced square-offs.
In the week leading up to monthly expiry, NSE often increases margin requirements. Plan for higher capital needs if you intend to hold contracts through expiry week.
Frequently Asked Questions
What is SPAN margin in F&O?
SPAN (Standard Portfolio Analysis of Risk) is the minimum margin required to hold a futures position, calculated by NSE daily. It represents the worst-case single-day loss scenario across a range of price and volatility moves. SPAN is the floor — brokers may charge slightly more.
What is exposure margin and why is it charged?
Exposure margin is an additional buffer collected on top of SPAN to protect against losses beyond the SPAN scenarios, especially on overnight positions. It is typically 3.5–4.5% of the contract value for index futures and is refunded when the position is closed.
Do I need to pay full margin upfront?
Yes. SEBI's peak margin rules (effective 2021) require that the total margin (SPAN + Exposure) must be available in your account at the time of order placement, not just at end of day. Brokers enforce this by blocking the required amount from your available balance.
How are lot sizes decided for Nifty and BankNifty?
SEBI reviews lot sizes periodically and revises them to maintain contract values within regulatory bands. As of 2024–25, Nifty 50 has a lot size of 75, BankNifty is 30, FinNifty is 40, and Sensex is 10. These can change — always verify on NSE/BSE before trading.
Can this calculator be used for stock futures too?
This calculator is optimised for index futures. Stock (single-stock) futures have different lot sizes and higher margin percentages — typically 15–20% of contract value. The same SPAN + Exposure framework applies, but you would need to enter the correct percentages manually.
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