PSX Futures Rollover Cost Calculator
Rolling a Deliverable Futures Contract (DFC)? See exactly what the spread costs you — implied annualized financing vs KIBOR — before you roll.
Rollover Details
Current ready-market price
Price of the contract you roll into
For fair-value comparison
How often you roll (12 = monthly)
Rollover Analysis
Spread per Share
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Implied Rate (p.a.)
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Cost per Rollover
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Fair Futures Price
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Premium/Discount
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Annual Drag
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DFC contracts on PSX can be rolled any trading day before expiry. Each rollover crystallizes the spread as a cost — rolling monthly at a wide spread compounds into a heavy annual drag.
Frequently Asked Questions
What is a DFC rollover?
Closing your expiring Deliverable Futures Contract and opening the next-month contract to maintain exposure. The price difference (spread) between the two is your rollover cost.
What is the implied financing rate?
The spread annualized: (Futures − Spot) ÷ Spot × (365 ÷ Days) × 100. Compare it with KIBOR — if implied rate exceeds KIBOR significantly, the futures are expensive.
When is rolling worth it?
When the implied rate is near or below KIBOR (fair pricing), or when your directional view justifies the cost. Persistent wide spreads make buy-and-hold futures punishing.
Disclaimer: Illustrative calculator using standard cost-of-carry math. Actual DFC spreads, KIBOR and contract specs vary — confirm with PSX notices and your broker. Futures trading involves substantial risk.