As a rough guide, you'll be able to get a three-course meal with drinks in Madrid for:
Restaurant meals ( comidas ) are taken very late: few madrileños will start lunch before 2pm or dinner much before 10pm, and if you turn up much earlier you may find yourself alone, or the restaurant (in the evening) not yet open. On the other hand, most people do arrive for dinner by 10:30pm; Madrid being Madrid, though, there are quite a number of late-night options and the listings magazines all have sections for restaurants open past midnight ( después de media noche/de madrugada ). Many restaurants close on Sundays and/or Mondays and for all or part of July and August.