Futuro preço justo
- Created by
- Renato Passos, Eng. de Software
- Reviewed by
- Renato Passos, Eng. de Software
Last updated: Apr 18, 2026
About this calculator
The Future Fair Price calculator estimates an asset's future value in a futures contract using the formula S·(1+r)^T, where S is the spot price, r is the risk-free rate, and T is the time to maturity. This tool is crucial for valuing financial futures like commodities, stocks, or indices under an efficient market assumption.
It applies compound interest to the current asset price, representing the opportunity cost of the risk-free rate. For example, if an asset is priced at $100 today with a 5% annual rate, its fair future price in two years would be $100·(1+0.05)^2 = $110.25. The formula assumes no dividends, storage costs, or other price-affecting factors.
Use this calculator to compare futures offers on exchanges, evaluate arbitrage between spot and futures markets, or plan hedges against price fluctuations. Common applications include coffee, oil, and Bovespa index contracts.
Caution: The formula doesn't account for dividends, interest paid by the asset, or storage costs. For dividend-paying assets, adjust the calculation accordingly. Always verify the specific contract terms and market conditions before applying results.
Frequently asked questions
What is a futures fair price?
It's the theoretical value an asset should have at futures contract maturity, calculated using S·(1+r)^T, considering the spot price and risk-free rate.
How do I determine the risk-free rate?
Use the interest rate of government bonds (like Selic Treasury) with the same maturity as the contract. It represents the return without risk on invested capital.
Should dividends be considered in the calculation?
Yes. For dividend-paying assets, adjust the formula to S·(1+r)^T - D·(1+r)^(T-t), where D is the dividend and t is the time until its payment.
Can I use this calculator for any asset?
It works for non-yielding assets (like gold) or those with already incorporated yields. For stocks or indices with dividends, the formula must be adapted.