1, your understanding is wrong. Short stock index futures must decline exponentially to make a profit. If the index goes up, shorting futures contracts will definitely be a loss, while the spot price will go up.

Your profit and loss are not calculated correctly. The index rise is definitely a spot profit and a futures loss. Therefore, the loss of futures contract should be: 300 *100 * (3324-3500) =-5280000 yuan.

3. At present, the margin of stock index futures is 14%, so generally, 100 million funds are short on the futures index and can be bought: [100,000,000/(3324 * 300 *14%)] = 71. Because futures are margin trading, strictly speaking, this question is not rigorous, unless the simulated trading is not margin trading.