Open AccountMargin tools
F&O Margin Calculator
Estimate NSE futures and options margin using the latest SPAN risk file. Add a basket of legs to see SPAN, exposure, option premium and hedge benefit — the same job as a broker SPAN calculator.
- NSE SPAN risk file
- NRML & MIS products
- Up to 50 legs
Positions
No positions yet
Add at least one futures or options leg to estimate margin.
Margin breakdown
Your margin estimate appears here
Add a leg to see SPAN, exposure and premium.
SPAN figures are estimates from NSE risk arrays and published exposure rates (index 2%, stock 3.5%). Confirm against the trading system before a live order.
Good to know
Frequently asked questions
What is an F&O SPAN margin calculator?
A SPAN calculator estimates the initial margin NSE clearing requires for a futures and options book. It applies the official 16-scenario risk arrays from the latest SPAN file, then adds exposure margin and option premium. Arrow reads the same NSE files used by broker SPAN tools and returns an estimate for a basket of up to 50 legs.
What is the difference between NRML and MIS margin?
NRML (carry-forward) margin is SPAN plus exposure — 2% of notional for index contracts and 3.5% for stock contracts. MIS (intraday) on this calculator is SPAN only. Live MIS margins on the trading platform can still differ because of peak-margin rules, haircuts on pledged collateral and broker risk settings.
Why does a hedge or spread reduce margin?
SPAN looks at the portfolio as a whole. Offsetting positions — a short future against a long call, or a calendar spread — reduce the worst-case scenario loss. The calculator reports that saving as spread benefit and margin benefit so you can see how a hedge changes the total.
How often is the SPAN file updated?
Arrow ingests the NSE SPAN file every morning and again on weekday SPAN releases (late morning through the end-of-day file). The as-of date above the results is the business date of the file currently loaded.
Are these the same margins charged on Arrow?
These are exchange SPAN estimates. Confirm the exact blocked amount in the Arrow trading account before you place a live order. Premium, peak margin, ad-hoc margins and pledged-collateral haircuts can change what you actually pay.