Swap Calculator
A swap is the interest a broker charges or pays when you keep a position open past the daily rollover. Enter your lot size, the swap rate from your broker and the nights you hold, and this swap calculator returns the total cost or credit.
How is forex swap calculated?
Your broker publishes a swap rate for every symbol, one for long positions and one for short positions, usually per lot per night. This calculator uses dollars per lot per night. Negative means you pay, positive means you are paid.
Take 2 lots long on EUR/USD with a swap of -6.50 per lot per night, held for 7 nights that include 1 triple-swap night, on a 10,000 account:
The position cost 117.00 in swap before any price move. Over a long holding period that can be larger than the profit you were aiming for.
What is a triple swap night?
On most forex pairs the rollover on Wednesday night is charged three times, because it covers the weekend. Other instruments can triple on a different day, so check your broker's specification. The "Triple-swap nights" field counts how many of the nights you hold carry that triple charge. Holding a position for two weeks usually includes two of them.
Where do I find the swap rate for my symbol?
In MetaTrader 4 or 5, open Market Watch, right-click the symbol, choose Specification and read "Swap long" and "Swap short". Some brokers quote the swap in points instead of money. In that case multiply the points by the value of one point for your lot size to get the money figure, or use the swap table on your broker's website.
Does swap matter for short-term trades?
A trade opened and closed before the daily rollover pays no swap at all. Swap matters when you hold overnight. Brokers add their own markup to the interest difference between the two currencies, so it is possible for both the long and the short side of the same symbol to be negative.
Conclusion
Swap is a real holding cost that does not show on the price chart. Copy the rate from your own broker, enter how long you plan to hold, and compare the total with the profit you expect. To see how much of your account the position ties up, use the margin calculators, and to see fees on the other side of the trade use the rebate calculator. Rates change often, so recheck them before you open a position.
Frequently asked questions
Is swap the same as rollover interest?
Yes. Swap, rollover and overnight financing all mean the interest added to or taken from your account for holding a position past the broker's daily cut-off time.
Is a positive swap guaranteed?
No. A broker can change its swap rates at any time and adds a markup, so a rate that pays you today can turn negative later. Check the current rate before each trade.
Why does this calculator ask for triple-swap nights?
One night in the week is charged three times on most forex pairs. Entering how many of your nights carry that triple charge makes the total match what the broker will charge.