Interest rates futures · CBOT
ZN10-Year T-Note
One ZN tick is 1/64 of a point, worth $15.63 per contract. One point is worth $1,000.
Contract specifications
| Specification | ZN |
|---|---|
| Contract | 10-Year T-Note |
| Exchange | CBOT |
| Contract size | US Treasury notes with $100,000 face value |
| Minimum tick | 1/64 of a point |
| Tick value | $15.63 |
| Point value | $1,000 |
The 10-year note is the reference point for US borrowing costs. ZN reacts to inflation data, jobs reports and every Federal Reserve meeting.
How much room a funded account gives you on ZN
Every Get Funded Now futures account has a 3% maximum drawdown. Divided by ZN's $15.63 tick, that is how far one contract can move against you before the account is breached. Trading your full position limit divides that room by the number of contracts.
| Account | Max drawdown | Ticks of room, 1 ZN | Max contracts | Ticks of room, max ZN |
|---|---|---|---|---|
| $25,000 | $750 | 48 | 2 | 24 |
| $50,000 | $1,500 | 96 | 4 | 24 |
| $75,000 | $2,250 | 144 | 5 | 28 |
| $100,000 | $3,000 | 192 | 6 | 32 |
| $150,000 | $4,500 | 288 | 9 | 32 |
Size a trade from your stop with the futures position size calculator, or see how end-of-day trailing drawdown works.
Specifications are set by the exchange and are published here for reference. Check the futures rules for the instruments available on your account.
Questions
What is the tick value of ZN?
One ZN tick (1/64 of a point) is worth $15.63 per contract.
How much is one point on ZN?
A full one-point move is worth $1,000 per contract.
What does one ZN contract represent?
US Treasury notes with $100,000 face value, traded on CBOT.
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