Where do I find my swap rate?

In your broker's contract specifications or platform (in MetaTrader: symbol → Specification → swap long/short). Enter the rate for your direction — they differ.

Why is Wednesday's swap tripled?

Spot forex settles T+2, so positions held over Wednesday's rollover settle across the weekend — brokers charge three nights at once. Multiply that night by three when counting.

What is a positive swap (carry)?

When you are long the higher-yielding currency, the differential can pay you nightly. Carry traders hold such pairs specifically to collect it — enter a positive rate to model this.

Are swap rates fixed?

No — they move with central-bank rates and broker pricing. Re-check the rate for positions held over weeks.

Do Islamic (swap-free) accounts avoid this?

They replace swap with an administration fee after a grace period. Model that fee directly instead of a pip-based rate.

Forex

Forex Swap Cost Calculator

Calculate the overnight swap (rollover) cost or credit of a forex position from the swap rate in pips, lot size and nights held.

A forex swap (rollover) is the interest charged or credited for holding a currency position overnight, driven by the interest-rate differential between the two currencies.

Total swap cost

-$80.00

Per night: -$8.00
Pip value: $10.00

Swap rates come from your broker's contract specification and change with interest rates.

Worked example

A trader holds 1 standard lot of EUR/USD long for 10 nights. The broker's long swap rate is −0.8 pips per night.

Pip value (1 lot, USD account): $10 per pip
Swap per night: −0.8 × $10 = −$8.00
Total over 10 nights: −$8 × 10 = −$80

Holding the position for two trading weeks costs about $80 in swap — a full 8 pips of edge. A positive swap rate would credit the account instead.

How this is calculated

The broker's swap rate (in pips per night) is converted to money using the position's pip value, then multiplied by the holding period:

pipValue = pipSize × units × conversionRate
swapPerNight = swapPips × pipValue
totalSwap = swapPerNight × nights

The sign follows broker statements: a negative rate is a nightly charge, a positive one (carry) is a credit. Long and short swap rates differ — enter the one for your direction.

Most brokers charge three nights of swap on Wednesday to cover weekend settlement, so count that rollover as 3 nights.

When to use this calculator

Use this before any trade you expect to hold overnight or longer. Swing and position trades in forex carry a nightly cost (or credit) that compounds over the holding period, and it belongs in the trade's expected value alongside spread and commission.

It is essential for judging carry: when you are long the higher-yielding currency, the swap is income, and this tool shows what a month or a quarter of holding actually pays on your size.

Check it too when a trade is drifting sideways — a position paying $8 a night in swap needs a reason to stay open, and seeing the accumulated cost makes that decision concrete.

Common mistakes

Ignoring swap on multi-day trades — a small nightly charge compounds into a meaningful share of the expected profit on longer holds.
Assuming long and short swaps mirror each other — both sides can be negative once the broker's markup is added.
Forgetting triple-swap day (usually Wednesday), when three nights of rollover are charged at once to cover the weekend.

Frequently asked questions

What is a forex swap?: The interest adjustment for holding a position past the daily rollover, driven by the interest-rate differential between the two currencies plus the broker's markup. It can be a charge or a credit.
Where do I find my swap rate?: In your broker's contract specifications or platform (in MetaTrader: symbol → Specification → swap long/short). Enter the rate for your direction — they differ.
Why is Wednesday's swap tripled?: Spot forex settles T+2, so positions held over Wednesday's rollover settle across the weekend — brokers charge three nights at once. Multiply that night by three when counting.
What is a positive swap (carry)?: When you are long the higher-yielding currency, the differential can pay you nightly. Carry traders hold such pairs specifically to collect it — enter a positive rate to model this.
Are swap rates fixed?: No — they move with central-bank rates and broker pricing. Re-check the rate for positions held over weeks.
Do Islamic (swap-free) accounts avoid this?: They replace swap with an administration fee after a grace period. Model that fee directly instead of a pip-based rate.