Futures Prop Firm OffersFutures Average Entry Price Calculator for Partial Fills
Calculate a weighted futures entry price after partial fills, then convert the blended entry into stop risk, target P&L and net trade cost.
Futures Average Entry Price Calculator for Partial Fills
Direct answer: Calculate a futures average entry by multiplying each fill price by its contract quantity, adding those values and dividing by total contracts. The result is a quantity-weighted entry—not a simple average of fill prices. Use the blended price to calculate the real stop distance, target distance and position risk.
Weighted average entry formula
Average entry = sum of fill price × fill quantity ÷ total filled quantity
A fill with three contracts carries three times the weight of a one-contract fill.
Long-position example
Assume four contracts fill in three pieces.
| Fill | Price | Quantity | Price × quantity |
|---|---|---|---|
| 1 | 5,000.00 | 1 | 5,000.00 |
| 2 | 5,000.25 | 2 | 10,000.50 |
| 3 | 5,000.75 | 1 | 5,000.75 |
| Total | — | 4 | 20,001.25 |
Average entry = 20,001.25 ÷ 4 = 5,000.3125
The platform may display a rounded value based on the contract’s tick size. Keep the exact calculation for analysis and use the platform’s valid tick price for orders.
Why a simple average is wrong
A simple average of the three fill prices is 5,000.3333. The quantity-weighted average is 5,000.3125 because the second fill contains two contracts.
| Method | Result | Correct for position? |
|---|---|---|
| Simple average of three prices | 5,000.3333 | No |
| Quantity-weighted average | 5,000.3125 | Yes |
Stop risk from the blended entry
Assume a valid tick size of 0.25, a $5 tick value and a stop at 4,999.00.
| Input | Value |
|---|---|
| Weighted entry | 5,000.3125 |
| Stop price | 4,999.00 |
| Price distance | 1.3125 |
| Tick size | 0.25 |
| Distance in ticks | 5.25 theoretical ticks |
| Quantity | 4 contracts |
Because an executable futures price must align with the contract tick, the precise platform average and fill accounting may produce fractional average ticks. Risk should be calculated from the actual fill record.
Market risk = entry-to-stop price distance ÷ tick size × tick value × quantity
In this example:
1.3125 ÷ 0.25 × $5 × 4 = $105
Add trading costs
| Cost component | Amount |
|---|---|
| Market risk to stop | $105 |
| Estimated round-turn fees | $16 |
| Slippage allowance | $20 |
| All-in planned risk | $141 |
Use firm and platform fee records rather than a generic estimate when available.
Target P&L from average entry
Assume a target at 5,002.00.
| Input | Value |
|---|---|
| Target price | 5,002.00 |
| Average entry | 5,000.3125 |
| Favorable distance | 1.6875 |
| Tick size | 0.25 |
| Theoretical average ticks | 6.75 |
| Gross P&L at $5/tick × 4 | $135 |
Subtract fees and slippage to estimate net P&L.
Adding to a position
Suppose the four-contract position at 5,000.3125 receives two more contracts at 5,001.00.
| Position component | Average/fill price | Quantity | Weighted value |
|---|---|---|---|
| Existing position | 5,000.3125 | 4 | 20,001.25 |
| Added fill | 5,001.00 | 2 | 10,002.00 |
| Combined | — | 6 | 30,003.25 |
New average = 30,003.25 ÷ 6 = 5,000.5417
Adding at a higher price raises the long position’s average entry and changes stop risk immediately.
Before-and-after risk comparison
Assume the stop remains 4,999.00, the tick size is 0.25 and tick value is $5.
| Stage | Quantity | Average entry | Gross stop risk |
|---|---|---|---|
| Before add | 4 | 5,000.3125 | $105.00 |
| After add | 6 | 5,000.5417 | $185.00 |
| Increase | 2 | — | $80.00 |
A small price addition can create a large risk increase because both distance and quantity change.
Short-position example
The weighted-entry formula is identical for shorts.
| Fill | Price | Quantity | Weighted value |
|---|---|---|---|
| 1 | 5,000.00 | 2 | 10,000.00 |
| 2 | 4,999.50 | 1 | 4,999.50 |
| 3 | 4,999.25 | 1 | 4,999.25 |
| Total | — | 4 | 19,998.75 |
Average short entry = 19,998.75 ÷ 4 = 4,999.6875. For a short, risk lies above the average entry and profit lies below it.
Reusable fill worksheet
| Field | Fill 1 | Fill 2 | Fill 3 | Fill 4 |
|---|---|---|---|---|
| Price | ||||
| Quantity | ||||
| Price × quantity | ||||
| Timestamp | ||||
| Order ID |
Then record:
| Summary field | Value |
|---|---|
| Total quantity | |
| Sum of weighted values | |
| Weighted average entry | |
| Stop price | |
| Target price | |
| Tick size and value | |
| All-in stop risk |
Step-by-step calculation
- Export or record every fill.
- Match fills to the correct contract month.
- Multiply each fill price by filled quantity.
- Add the weighted values.
- Divide by total quantity.
- Calculate stop and target distances from the blended entry.
- Convert distances to tick value.
- Add fees and slippage.
- Compare the result with the platform report.
Common mistakes
Averaging order prices instead of fills
An order can fill at several prices. Use executed fills, not the submitted limit price.
Ignoring quantity weights
Three contracts at one price matter more than one contract at another.
Mixing contract months
Different expiries are separate instruments and should not share one average.
Forgetting additions after entry
Every added fill changes the average price and open risk.
Final answer
A futures average entry is a quantity-weighted fill price. Once calculated, it becomes the correct base for stop risk, target P&L and trade-cost analysis.