Forward Curves Across Asset Classes

How dividends, interest rates, storage, and convenience yields drive the forward curve.

Presets
Parameters
Spot \(S_{0}\) $100.00
Risk-free rate \(r\) 5.00%
Yield \(\delta\) 0.00%
Delivery date \(T\) 1.00 yr
Forward price \(G_{0,T}\) versus delivery date \(T\)
Dashed line marks today's spot \(S_{0}\). Above is contango; below is backwardation.
Pricing formula
\( G_{0,T} = e^{c\,T}\, S_{0} \)
 
Spot \(S_{0}\)
$100.00
Forward \(G_{0,T}\)
--
Cost of carry \(r-\delta\)
--
Curve shape
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