What is amount of funds required without any margin?

If someone wants to take a position in Nifty futures, how much fund is required in case when no margin is given? How is this value calculated? Does the amount depend on the time left to expire?
Also, please tell the same for option writing.
Thank you

When you’re trading futures and selling options, you need to have SPAN + Exposure margin specified by the exchange. You can check the margin requirement here:

The margin specified by the exchange, as explained above is the funds you require.

Are you referring to paying the entire contract value, for example (CMP * Lot Size) for futures?

This is not possible. Since this value will be large, exchange only asks for SPAN + Exposure margins. You can learn more on what margins are here:

Also, the Futures and Options trading module on Varsity will help you understand these products better:

Thank you for replying. I further have a doubt. Is the margin money given to the exchange or does the broker keep it until the contract is open?

No, once you take the position, the funds for that trade aren’t held by a broker, these are blocked by an exchange/clearing corporation.