Forex Swap / Overnight Calculator
Calculate the overnight financing cost or credit for holding positions past the daily rollover
Std=1.0, Mini=0.1, Micro=0.01
Wed=3x for weekend
💸 Swap Cost
$-6.20
$-6.20 per night · 1 night
Rate: $-6.20 / lot / night · EUR/USD BUY · 1 lot
⚠️ Important: Swap rates are approximate and change frequently based on central bank interest rate decisions. Always check your broker's current swap schedule before trading. Wednesday swaps are typically 3× to account for the weekend.
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What is Forex Swap?
A swap (also called rollover or overnight financing) is a fee charged or credited when you hold a forex position open past the daily market close at 5pm New York time.
The rate depends on the interest rate differential between the two currencies. If you're long a currency with a higher interest rate, you may earn swap. If you're short that currency, you pay swap.
Wednesday triple swap: Most brokers charge 3× the normal swap on Wednesdays to cover the weekend (Saturday + Sunday) when markets are closed.
FAQ
Why does swap matter for traders?
Swap can significantly impact your P&L on trades held overnight, especially over several days. Carry traders specifically trade to earn positive swap. For short-term traders, swap is a cost that erodes profits if ignored.
Which pairs have the highest positive swap?
Pairs with large interest rate differentials tend to have the highest swap. USD/JPY buy positions have historically earned positive swap due to Japan's near-zero rates. Rates change with central bank policy.
What is a swap-free (Islamic) account?
Islamic accounts (swap-free accounts) don't charge or pay overnight swap in accordance with Islamic finance principles. Brokers like Exness offer these. Note: some brokers charge an admin fee instead.
How often do swap rates change?
Swap rates change when central banks change interest rates. Major rate decisions happen quarterly or when economies need adjustment. During high-volatility periods, brokers may also update rates more frequently.