SET50 Futures Profit and Loss Calculation
Learn how SET50 Futures points, contract value, and trade direction determine gross P&L, with a worked example and notes on fees and slippage.
By Kru Kook (Krittiya Khunabrimas)
The gross P&L formula
Before costs, futures profit or loss is the difference between exit and entry prices multiplied by the value per point and the number of contracts.
Long: (exit price − entry price) × point multiplier × contracts
Short: (entry price − exit price) × point multiplier × contracts
A negative result is a gross loss. This calculation does not include commission, exchange fees, spread, or slippage.
Long and short examples
TFEX contract information checked on 22 October 2026 lists a THB 200 multiplier per SET50 Index Futures point and a minimum price fluctuation of 0.1 point, or THB 20 per contract.
Long: Enter at 920, exit at 928, and hold 2 contracts: (928 − 920) × 200 × 2 = THB 3,200 gross profit.
Short: Enter at 920, exit at 914, and hold 1 contract: (920 − 914) × 200 × 1 = THB 1,200 gross profit.
If the first long example instead exits at 913, the result is (913 − 920) × 200 × 2 = a gross loss of THB 2,800.
From gross P&L to net P&L
Subtract costs incurred on both entry and exit. Check whether each amount in your broker’s schedule is charged per contract, per side, or per transaction. Include exchange fees, data charges, and negotiated brokerage commission where applicable.
Approximate net P&L = gross P&L − total costs incurred
For example, THB 3,200 gross profit less hypothetical actual costs of THB 160 leaves THB 3,040 net profit. The THB 160 is only an arithmetic example, not a broker fee quote.
Contract exposure is not margin
The multiplier converts price movement into P&L. Margin is not the full purchase price of the underlying and does not cap a loss. A 10-point adverse move in one contract is THB 2,000 before costs, which may exceed part of the posted margin.
Check current margin notices and size the position from the account’s risk budget. Do not use the minimum margin amount to decide how many contracts to trade.
Verify the inputs
- Confirm the product and contract month.
- Verify the current multiplier and tick on TFEX.
- Keep the direction sign correct for Long or Short.
- Multiply by contract count and keep costs separate from gross P&L.
- Compare the estimate with the broker’s trade confirmation.
This formula is for SET50 Index Futures. Options have a premium and a different payoff.