Forex Swap & Overnight Financing Calculator
What overnight swaps and financing add to a forex or CFD trade.
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- Free preview: the swap for one night in full, with the first rows of the nights table and the first step of the working; every other figure is hidden.
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For education only, not investment advice: no tool here tells you what to buy, sell or hold. Results use only the figures you enter, the files you load (read in your browser, never uploaded) and the published rules each page names. Check them against your broker's or exchange's own figures, and consider a licensed or registered adviser for advice on your situation.
About the Forex Swap & Overnight Financing Calculator
A forex or CFD position held past the broker’s daily rollover is charged or paid a swap (also called rollover or overnight financing). Brokers quote it in one of three ways: points a lot (as trading platforms show it), a benchmark rate plus a markup on the position’s value (common for index and share CFDs), or money a lot. This calculator turns any of them into the swap for one night, the total for the nights you hold the position, the swap as a yearly percentage of the position, and the move in pips that would pay for it.
One weekday’s rollover is charged three times to cover the weekend; choose which. Count the nights from the weekday you open and the nights you hold, or type them yourself. Positions priced in another currency than your account are converted at a rate you type, or the European Central Bank’s reference rate when you ask.
How to use it
- Enter the pair (or the market of a CFD), the side, the lots and the units in a lot, and the current price; choose your account currency.
- Choose how your broker quotes the swap and enter it: points a lot (long and short) with the point size, a benchmark rate and markup, or money a lot.
- Choose the weekday you open the position and the calendar nights you hold it, or count the ordinary and triple-swap nights yourself, and the triple-swap day.
- If the position is priced in another currency, type the rate or use the ECB reference rate.
- Read the swap for one night, the total and the move that covers it; then copy the summary or download the nights as CSV — with a pass, or after unlocking this result.
Examples
1 lot long; swap −6.5 points a lot a night; point 0.00001
−$6.50 a night
The same position held 10 calendar nights from Tuesday, triple swap on Wednesday
12 nights charged (two Wednesdays count three times, the weekends nothing): −$78.00, covered by a 7.8-pip move at $10 a pip
Long, worth 50,000; benchmark 4.5% plus 2.5% markup (example rates); 365 days
9.59 a night; 287.67 over 30 nights; 7% a year of the position
Common uses
- See what holding a forex position for two weeks costs in swaps.
- Compare the financing of an index CFD with the interest you would earn on the cash.
- Check whether a positive swap on a carry trade covers the spread.
- Work out the move that pays for a long holding period.
The formulas
- Swap in points: a night = swap points × point size × units × the rate to your account currency.
- Swap from a rate: a night = position value × (benchmark + markup) ÷ days in the year for a long; a short receives benchmark − markup (and pays when the markup is larger).
- Swap in money: a night = money a lot × lots.
- Total = a night × nights charged, where the triple-swap day counts three times and Saturday and Sunday nights count none.
- Move that covers it = the total ÷ the value of one pip (units × pip × rate).
These are the swap types that trading platforms such as MetaTrader document in their symbol properties: swaps in points, in money, or as an annual interest rate on the price, and a day of the week that charges a three-day rollover.
Reading the results
- A negative swap is a charge, a positive one a credit; the sign is the one your platform shows.
- A year, as a share of the position is the swap of one night times 365, divided by the position’s value: a quick way to compare it with an interest rate.
- Move that covers it is how many pips the price must move your way to pay the swaps of the whole holding period.
What it leaves out
Changes in swap rates while you hold the position (brokers revise them, often daily), holidays that move the triple-swap day, spreads and commissions, and the position’s own profit or loss (the forex & CFD margin calculator works out margin and P&L).
Limitations
- One swap rate for the whole period; brokers can change it every day.
- The calendar counts every weekday night as a rollover; market holidays are not known to it.
- Swaps quoted in a currency other than your account’s need converting first (or a rate typed).
- It calculates from your numbers and uses no market data: it says nothing about where any price is going.
Privacy
Everything happens in your browser. What you enter or open here is not uploaded or stored by MySmartCoPilot. Downloads the ECB’s daily reference exchange rates when you ask for them; the amounts you enter are never sent.
Frequently asked questions
What do I get without a pass?
Without a pass, Forex Swap & Overnight Financing Calculator shows the swap for one night in full, with the first rows of the nights table and the first step of the working; every other figure is hidden. Until you unlock it, the result can’t be downloaded or copied. A Pro, Premium or Ultimate pass, a one-time payment that never renews, unlocks the full result. The pricing page lists the passes and their prices.
How is a forex swap in points converted to money?
Multiply the swap points by the point size and the units, then convert to your account currency. −6.5 points on one lot of EUR/USD with a 0.00001 point is −6.5 × 0.00001 × 100,000 = −$6.50 a night.
Why is one day charged three times?
Because the rollover of one weekday covers the weekend as well, so that day is charged for three nights and Saturday and Sunday for none. Brokers set the day in each symbol’s details; Wednesday is filled in as a start and you can change it.
How are CFD overnight fees worked out?
Usually on the position’s value at a benchmark rate plus the broker’s markup, divided by 365 (or 360) for each night. A long CFD worth 50,000 at 4.5% + 2.5% costs about 9.59 a night.
Can a swap be paid to me?
Yes, when the swap for your side is positive — typically holding the currency with the higher interest rate. Brokers can change swap rates at any time, so a credit is not fixed.
What move covers the swaps?
The total swap divided by the value of one pip. −$78.00 of swaps on one lot of EUR/USD, at $10 a pip, is covered by a 7.8-pip move in your favour.