Spot + Futures Net Exposure Calculator
With a spot long and a futures short, compute the net exposure = spot − short plus the hedge coverage ratio.
Results
Fill in the inputs and click Calculate.
- Net Exposure
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- Hedge Coverage
- –
- Long Notional
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- Short Notional
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Risk disclaimer
Net exposure covers direction only; basis and funding risks are not shown.
What does net exposure mean?
Above zero you are net long; below zero net short; near zero is roughly neutral (basis, funding and rolls still matter).
Coverage = short futures notional ÷ spot notional × 100%.
How to use
- Enter the spot position notional.
- Enter the short futures notional.
- Click Calculate for net exposure and coverage.
Formula
- Net exposure = spot − futures short
- Coverage = futures short ÷ spot × 100%
Example
Spot long 10,000 vs futures short 8,000 → net +2,000, coverage 80%.
Full neutrality needs the short notional to match spot (plus basis effects).
FAQ
Is 100% coverage risk-free?
Nearly, but interest/funding, expiry and basis risk remain; contract multipliers must align.