What is a forex swap rate?

A forex swap rate (or overnight rollover) is the interest earned or paid for holding a currency pair position past the daily rollover time (usually 5 PM New York). It reflects the interest rate differential between the two currencies. You receive interest on the currency you buy and pay interest on the currency you sell.

Why do some positions earn a positive swap?

If the currency you are buying has a higher interest rate than the currency you are selling, you earn the differential as a daily credit — this is the basis of carry trading. For example, buying AUD (higher rate) against JPY (near-zero rate) historically generated positive carry.

What is the triple swap on Wednesday?

Forex markets settle trades T+2 (trade date plus two business days). To account for the weekend when markets are closed, brokers charge or credit three days of swap on Wednesday night instead of one. This calculator shows the standard daily rate; multiply by 3 for Wednesday.

What is a standard lot in forex?

One standard lot equals 100,000 units of the base currency. A mini lot is 10,000 units (0.1 lots) and a micro lot is 1,000 units (0.01 lots). Enter fractional values (e.g. 0.5) for half-lots.

How do brokers calculate swap rates?

Most brokers use the formula: Swap = (Contract Size × (Base Rate − Quote Rate − Broker Markup) / 100) / 365. The result is in quote currency units and is then converted to your account currency. Some brokers express swap as fixed pips per lot per day.

Does this calculator include broker spread or commission?

No. This tool focuses on the overnight swap charge only. Broker spread and trade commission are separate costs. Use the Broker Markup field to add any swap-specific admin fee your broker charges on top of the raw rate differential.

Forex Swap Rate Calculator

Name: Forex Swap Rate Calculator
Availability: InStock
Author: Nham Vu

Enter your currency pair, position size, and interest rates to calculate the overnight swap charge or credit for holding a forex trade.

Position Details

Currency Pair

Direction

Position Size (lots)

1 lot = 100,000 units

Central Bank Interest Rates

Base Rate (%)

Quote Rate (%)

Enter annualized central bank rates for each currency.

Broker Markup (% per year, optional)

%/yr

Account Currency

Fill in the position details and click Calculate.

Daily Swap

$0.00

per day

Daily

$0.00

Weekly

$0.00

5 trading days

Annual

$0.00

365 days

Calculation Breakdown

Currency Pair	—
Direction	—
Contract Size	—
Rate Differential	—
Broker Markup	—
Net Annual Rate Applied	—
Exchange Rate Used	—
Daily Swap (quote ccy)	—

Wednesday Triple Swap

On Wednesday night brokers charge 3x the daily swap to account for the weekend settlement. Your Wednesday charge would be $0.00.

Summary

Enter your currency pair, position size, and interest rates to calculate the overnight swap charge or credit for holding a forex trade.

How it works

Select or enter your currency pair (e.g. EUR/USD).
Choose your trade direction: Long (Buy) or Short (Sell).
Enter your position size in standard lots (1 lot = 100,000 units).
Enter the interest rates for the base and quote currencies.
Optionally add a broker markup (swap commission in pips or percentage).
Click Calculate to see the daily swap amount, weekly projection, and annualized carry.

Use cases

Estimating the daily cost of holding a carry trade position overnight.
Comparing swap charges across brokers before opening a long-term position.
Planning for positive swap (carry) income on high-yield currency pairs.
Calculating weekly and monthly rollover costs for swing trade budgeting.
Assessing whether a trade is worth holding over a weekend (triple swap on Wednesday).
Checking the break-even pip move needed to cover daily swap costs.

Frequently Asked Questions

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Last updated: 2026-05-23 · Reviewed by Nham Vu