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ES to SPY and NQ to QQQ converter

Type an ES price and get the approximate SPY level, or type a SPY price and get the ES equivalent. The same works for NQ and QQQ. This is how LiquidityLevels expresses every overnight level in both terms.

How to use it

  1. Enter an ES or NQ price in the futures box (or an ETF price in the other box).
  2. Adjust the ratio if you want to use a different reference.
  3. Read the approximate equivalent.
SPY ≈ ES ÷ 10.016 · QQQ ≈ NQ ÷ 40.82
Example. ES 5,530 ÷ 10.016 ≈ SPY 552.12. NQ 19,650 ÷ 40.82 ≈ QQQ 481.38.

About this calculator

How do you calculate the SPY price from ES? Divide the ES price by about 10, adjusting for the current basis between the futures and the cash index. The reference ratios here (10.016 and 40.82) are fixed illustrative values; briefings use the live basis at the time of writing. Futures and ETFs are different instruments, so the result is an orientation, not a quote.

Frequently asked questions

How do I calculate SPY price from ES?
Divide the ES price by roughly 10. The precise ratio depends on the current futures basis and SPY's dividend and price level, which is why this tool lets you adjust it.
How do I convert NQ to QQQ?
Divide the NQ price by roughly 40 to 41. Like ES to SPY, the ratio drifts, so treat the result as approximate.
Is the converter a live quote?
No. It is a reference calculator using the ratio you set. It does not pull live prices.

Converting ES or NQ levels for SPY or QQQ?

See SPY premarket levels: structure, key levels and catalysts in futures and SPY/QQQ terms, before the 9:30 ET open.

See SPY premarket levelsStart free trial

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ES/NQ to SPY/QQQ translation explainedConverter walkthrough
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Informational calculator for reference only. Outputs are arithmetic, not quotes, recommendations or trade signals. LiquidityLevels provides educational market commentary, not financial advice.