Trade Futures Spreads With Tradovate Spread Matrix
Instead of legging into two separate orders and hoping both fill, the Spread Matrix lets you read a grid, click one cell, and trade the spread as a single instrument.
If you trade the roll, hedge one contract month against another, or just want to see every calendar spread on a product at a glance, the Spread Matrix is the tool built for it. Instead of legging into two separate orders and hoping both fill, you read a grid, click one cell, and trade the spread as a single instrument. Here's how to open it, set it up, and place a spread trade.
What Is a Futures Spread?
A futures spread is a position built from two related contracts traded together as one. The most common kind is a calendar spread: you buy one expiration and sell another expiration of the same product, so the two legs differ only by contract month. Because it's an exchange-listed instrument, you get a single price for the whole spread and one fill for both legs, which cuts the leg-risk of chasing two orders yourself.
Tradovate lists these as named spread types per product. Search a symbol like ES and you'll see options such as the E-Mini S&P Reverse Calendar Spread (a reverse calendar buys the nearer month and sells the further-out one, the mirror of a standard calendar). The Spread Matrix lays out every valid month-pair for that spread type in one grid so you can pick the combination you want.
How to Use the Tradovate Spread Matrix: Step-by-Step
Open the Spread Matrix Module
Add a new module to your workspace. Click the large plus (+) to open the module selector, find Spread Matrix in the list, and drag it onto your screen. It opens empty, waiting for you to load a product.
Search and Load a Product Spread
Click the search field at the top of the module and type a product symbol, for example ES. Tradovate suggests the spread types listed for that product, like the E-Mini S&P Reverse Calendar Spread. Select one, and the top row of the grid fills in with the spread's legs and the display options you'll set next.
Set the Legs and the Axes
Now tell the matrix which contracts to plot. If you want a specific expiration, pick it from the contract selector dropdown. Then decide the layout: put Leg 1 on one axis and Leg 2 on the other. The grid takes the contracts on each axis and builds the spread for every combination where they cross, so a wider selection means a bigger matrix of month-pairs to choose from.
Read the Grid
Once configured, the grid populates. One set of contract months runs across the top, another runs down the side, and each intersecting cell is the tradable spread for that exact pair of expirations, showing its current price. Reading it is simple: find the front-month contract on one axis, the back-month on the other, and the cell where they meet is your spread.
Buy or Sell From a Cell
Hover over the spread cell you want to trade and two buttons appear: Buy Mkt and Sell Mkt. Hovering each one shows a tooltip spelling out exactly what the order will do, so you can confirm the direction before you commit. Click the side you want, and Tradovate sends a market order for that spread as one instrument. You can check the working order and the resulting position in your Orders and Positions panels like any other trade.
Why You'd Use the Spread Matrix
- Trade the roll cleanly as one order instead of legging out of the front month and into the next.
- See every month-pair at once so you can spot the spread you actually want to trade.
- Cut leg risk since the exchange fills both legs together at a single spread price.
- Hedge or arbitrage calendar relationships without babysitting two separate tickets.
Live spread prices need a real-time data subscription for the product. If the cells look blank or stale, confirm your market data before you trade.
Automate Your Entries with PickMyTrade
Spreads are great for structured positions, but when your edge is a signal, you don't want to be clicking a grid at the exact moment it fires. PickMyTrade routes your TradingView alerts straight into your Tradovate account and places the trade for you, brackets and all.
Automate Your Spread Entries
Spreads are great for structured positions, but you don't want to be clicking a grid at the exact moment your signal fires. Let PickMyTrade place the trade for you, brackets and all.
Start Your Free 5-Day TrialFrequently Asked Questions
One. An exchange-listed spread is a single instrument, so Buy Mkt or Sell Mkt sends one market order and the exchange fills both legs together at the spread price.
A calendar spread sells the nearer month and buys the further-out one. A reverse calendar spread does the opposite, buying the nearer month and selling the further-out month. Tradovate names the spread type when you load it, so check the label before you trade.
Usually a missing or delayed market-data subscription for that product, or a leg configuration that leaves no valid intersections. Confirm your real-time data and check that both legs point at contracts that actually pair up.
This guide is for educational and informational purposes only and is not financial, investment, or trading advice. Trading futures and other leveraged products carries a substantial risk of loss and is not suitable for every investor. PickMyTrade is an independent third-party automation platform and is not affiliated with, endorsed by, or sponsored by Tradovate, Inc. "Tradovate" and all related names, logos, and trademarks are the property of their respective owners. Platform features and steps change over time, so always confirm the current process in the official Tradovate platform and documentation before acting.