Spread ratio calculator

Two futures contracts rarely carry the same dollar exposure per contract. Enter both prices and this finds the smallest whole-number ratio that keeps the two legs close to dollar-balanced.

Enter prices as quoted on your platform. Treasury contracts (/ZT /ZF /ZN /ZB) take the decimal price (110.50), not 32nds. Exposure is price × the dollar value of a one-point move per contract. This balances dollar notional only: Treasury curve spreads are normally sized by DV01 instead, and any spread has margin and execution considerations this tool does not know about.