The Italian has been heavily linked to the post vacated by Julen Lopetegui following Madrid's embarrassing 5-1 defeat against fierce rivals Barcelona over the weekend.
B-team coach Santiago Solari has taken over on a temporary basis as the club searches for a permanent replacement, but Conte appears to have sabotaged his own chances of getting the job after laying down a list of stipulations.
"He's asked for three years and to come in with five people and have hands free for signings and transfers," Calderon told 'BBC Radio 5 Live'.
"But that's something the president [Florentino Perez] isn't willing to accept.
"I don't think Antonio Conte will be the coach the Bernabeu is expecting. He's like Jose Mourinho - a defensive coach with normally three centre-backs playing counter-attacking football.
"That's not what Real Madrid expect to see. The president tried this before with Mourinho. They didn't win the Champions League and he left the club in a bad situation."