Daily Swap (Long)
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Daily Swap (Short)
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Total Swap Cost
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When Should You Use This?
Use this calculator to estimate the overnight holding costs before entering a swing trade in forex. Swaps can significantly eat into profits on multi-day holds, especially for exotic pairs.
How It Works
1
Enter Position Details
Input your lot size and the swap rates from your broker (found in the instrument specification or MT4/MT5 terminal).
2
Set Holding Period
Enter how many nights you plan to hold. Remember: Wednesday rollovers are triple (3 nights) to account for the weekend.
3
Evaluate the Cost
If the swap cost is large relative to your expected profit, consider shorter holds or pairs with positive swap (carry trades).
Frequently Asked Questions
A forex swap (or rollover) is the interest rate differential between two currencies. When you hold a position overnight, you pay or receive this difference based on the relative interest rates.
Forex settles T+2 (two business days). Positions held Wednesday night settle on Friday, covering Saturday and Sunday. So you're charged 3 days of swap.
Yes. If you go long a currency with a higher interest rate vs one with a lower rate, you earn positive swap. This is the basis of carry trading.
Your broker lists swap rates in the contract specification for each pair. In MT4/MT5, right-click a symbol and select 'Specification.'
On a large lot held for weeks, swap costs can be hundreds of dollars. Always factor swap into your trade plan, especially for exotic pairs with high swap rates.