Overnight Swap Interest Rate Calculator
Calculate long and short rollover swap interest payments and fees based on broker swap points or percentage rates before holding positions.
Understanding Forex Overnight Swaps and Rollover
Forex trades involve borrowing one currency to buy another. Holding positions overnight past the 5:00 PM EST market close incurs or earns swap interest based on the interest rate differential between the two central bank benchmark rates.
Triple-Swap Wednesday Mechanics
Because spot Forex settles on a T+2 basis, holding positions overnight on Wednesday incurs a triple swap charge to account for weekend interest rollover.
How to Use This Swap Calculator
Select trade direction (Long or Short), input trade lot size, choose holding duration in days, and enter broker swap rate in points. The calculator computes total net swap interest received or charged in your account currency.
Carry Trade Strategies with Positive Swaps
A carry trade involves buying a high-yielding currency against a low-yielding currency (e.g. buying USD against JPY), earning positive overnight swap payments while holding the trade long-term.
Frequently Asked Questions
What is a positive swap in Forex?
A positive swap means you earn interest daily for holding a position where the base currency interest rate exceeds the quote currency rate.
Why are swaps tripled on Wednesday?
Wednesday rollover accounts for weekend settlement when global interbank markets are closed.