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Free calculator · Hypothetical binary contracts

Kalshi Profit & Payout Calculator

Estimate Kalshi payouts, net profit and ROI from a contract price, quantity and manual fees. Model winning or losing settlement and an early sale.

Model a fully paid binary position whose winning payout is $1 per contract. Enter the quoted price of the side you buy and the total fees for your position. Example prices and fees are hypothetical.

Use the quoted price of your selected YES or NO side directly. Changing sides clears both prices; no complementary price is calculated.

0–100 cents per contract; up to four decimal places. Use your average fill price.
Whole contracts from 1 to 1,000,000. Fractional positions are outside this model.
Enter the actual total net fee, including any rounding charge, from the order preview or fills.
Optional costs for the position. Money fields allow up to six decimal places and $1 billion each.
Total initial outlay$56.00
Scenario gross payout$100.00
Scenario net profit / loss$44.00
Return on initial outlay78.571429%
Net if held and outcome loses-$56.00
Settlement break-even probability56%

A winning outcome pays $1 per contract; a losing outcome pays $0. Both subtract the full initial outlay. Settlement break-even is a cost threshold, not a forecast of the outcome.

Contract purchase cost
$55.00
Total entry fees (USD)
$1.00
Other total costs (USD)
$0.00

Independent calculator by Macro Markets; not affiliated with Kalshi. For fully paid $1 binary contracts held to settlement or sold in full. No short sales, leverage, combos or fractional contracts. Prices and net fees are entered manually; venue rules, split fills, account rounding, slippage and taxes are not added automatically.

Check the current fee information: Kalshi fee guidance

Calculations run in your browser. No order is placed and no account is connected.

How to use the Kalshi payout calculator

  1. Select the YES or NO side you are buying. Enter its quoted average price in cents, the whole-contract quantity and total entry fees and other costs in USD.
  2. Choose a winning settlement, losing settlement or early sale. For a sale, enter the average exit price and total exit fees for the same position.
  3. Compare gross payout with net profit and return on the initial outlay. Check the losing-settlement result and the break-even threshold; an entered price is not a promise of profit.

Example: 100 contracts at 55¢ cost $55. With a hypothetical $1 entry fee and no other costs, the initial outlay is $56. A winning settlement pays $100 and nets $44; a losing settlement nets −$56. Selling all contracts at 65¢ with a further $1 exit fee nets $8.

Compare probability assumptions in the expected value calculator.

Kalshi payout calculator questions

How are payout and net profit calculated?

For the $1 binary contract modeled here, a winning settlement pays the number of contracts in dollars and a losing settlement pays zero. Initial outlay is contract price × quantity plus entry fees and other costs. Net profit subtracts this outlay from gross payout. An early sale uses sale price × quantity and also subtracts exit fees.

Does this calculator load current Kalshi fees?

No. Enter the total net fee from your order preview or actual fills, including rounding adjustments. Entry and exit fees are separate, and the examples are hypothetical. Fee schedules, markets and account arrangements can differ. The calculator does not automatically apply a standard percentage or fetch an account balance.

Can I estimate profit from selling before settlement?

Yes. Choose the early-sale scenario and enter the average sale price for the same side and the total exit fee. Net profit is sale proceeds minus the initial outlay and exit fee. The break-even sale price treats that exit fee as fixed. This assumes the entire position sells at the entered average price; it is not an executable quote.

How do I calculate the payout for NO contracts?

Select NO and enter the actual quoted NO price. Do not enter a YES price expecting the calculator to subtract it from 100. If the purchased NO outcome wins, this model pays $1 per contract; if it loses, the payout is zero. Always confirm the contract’s settlement rules.

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