I assume its like an equity index in that it is adjusted for dividends(interest), but are there any other funding interest fees to buy? As I understand it the price executed on a forward contract is typically adjusted upward to count for the interest that would have been earned during that time since no money is exchanged initially. Though for futures, money is exchanged initially, though its typically a small fraction of the total notional amount. So are prices adjusted according to the margin requirements on the instrument? ie if margin requirements were 50%, the price would be adjusted upward to account for 50% of the interest that would otherwise have been earned. Also, do brokers charge for margin on futures in the same way they would for equities. ie if I put 1,000,000 in an account and bought 10,000,000 in bond futures, would I have to pay interest on that 9,000,000 I borrowed? Or is that built into the price via the above? I hope I made sense with these questions. Any help would be greatly appreciated. Thanks!