About this app

Builds a forward curve from financing, storage and convenience yield, labels the state as contango or backwardation, and lays out a twelve-contract ladder with basis, annualised premium and the roll cost at each step. Computes what holding a rolled long position costs over a chosen period before spot does anything — the mechanism by which a commodity fund tracks a flat spot price and still loses a third of its value. States plainly that a futures price is arbitrage arithmetic, not a forecast.