Fill in the empty fields to see the result.
Swap = points × point size × contract size × lots, per night; negative means you pay. Swap values are set by the broker and change.
What this swap calculator does
A swap (also called rollover or overnight fee) is the amount added to or taken from your account when a leveraged forex or CFD position stays open past the platform's daily rollover time. It mostly reflects the interest rate difference between the two currencies in a pair, or the financing cost on an index, metal or energy CFD, plus the broker's own markup.
The calculator turns the swap value in the instrument specification into money:
- per night, for one ordinary rollover
- per week, including the triple-swap day
- per month, as an estimate if the position and swap rates stay the same
The inputs start with neutral sample values. Change them to match your own trade. Every result on this page comes from the tool, so no example figures are written into the text.
How to use it
- Lots. Enter the position size in lots. A lot is the standard trade unit in MetaTrader.
- Contract size. This is how many units one lot represents. It is shown in the instrument specification. It differs between forex pairs, metals such as XAUUSD, and indices such as US100.
- Point size. This is the smallest price step of the instrument, also from the specification.
- Swap long and swap short. Copy both values from the specification. Long is for buy positions and short is for sell positions. Use the one that matches your trade direction.
- Swap type. Choose points or percent, whichever the specification uses.
- Account currency. If the swap is calculated in the quote currency, the tool converts it to your account currency at the rate you enter.
In MetaTrader you can find the specification by right-clicking the symbol in Market Watch and opening its specification. See MetaTrader 4 or MetaTrader 5 for more on the platforms. If you trade with Exness, check the current swap values in the Exness personal area or on the official site, because swap rates change.
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The formula
Swap in points:
swap per night = lots × contract size × point size × swap rate in points
Swap in percent:
swap per night = swap rate in % × notional value ÷ day-count basis
The notional value is lots × contract size × price. The day-count basis is the number of days in the year the broker uses for the instrument, and it can differ by instrument.
Triple-swap day: On one weekday the rollover covers the weekend as well, so that night's swap is multiplied by the triple-swap factor. The specification shows which weekday this is. Weekly and monthly results include it.
Sign: A negative result is a charge to your account. A positive result is a credit. The same pair can have a negative swap on one side and a positive swap on the other, and both sides can be negative.
What experienced traders should check
- Swap rates move. Brokers update them as interest rates and their own costs change. The monthly figure is an estimate, not a fixed cost.
- Markup. Swap long and swap short are usually not mirror images. The gap between them includes the broker's margin.
- Holidays. Around market holidays the triple-swap day can move, or extra nights can be charged. Check the platform's notices.
- Conversion. For pairs where neither currency is your account currency, the conversion rate changes the result from day to day.
- Total cost. Swap comes on top of spread and commission. Use the trade cost calculator to see all of them together. Use the margin calculator to see the margin a position ties up.
For background on how swaps work and why they differ by instrument, read swap fees. If you need positions without swap for religious reasons, see Islamic finance.
Risk and legal note for Pakistan
Leveraged CFD and forex trading can lose money fast. Swap charges on positions held for a long time add to losses even when the price does not move against you.
On payments, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Also, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. Read law and regulators before you decide anything.
Frequent questions
What is a swap fee in forex?
It is the interest-based charge or credit applied when a leveraged position stays open past the daily rollover. It depends on the instrument, the direction of the trade and the position size.
Why is my swap charge different from the calculator?
Your swap rate, conversion rate or position size may differ from the values you entered. Rates can also change between days. Check the current specification on your platform and enter the values again.
Can a swap be positive?
Yes. On some instruments one direction earns a credit. The broker sets the rates, so a positive swap can turn negative later.
What is the triple-swap day?
It is the weekday when the rollover also covers the weekend. That night's swap is multiplied by the triple-swap factor shown in the specification.
Is swap charged on day trades?
No, as long as the position is closed before the daily rollover time. Swap only applies to positions that are open at rollover.
Where do I find swap long and swap short?
In the instrument specification on your trading platform. You can also check the broker's official contract specifications.