What a triple swap is
A swap is the interest adjustment added to or taken from a position you hold past the daily rollover. It is based on the difference between the interest rates of the two currencies or the financing cost of the instrument. The basics are on What is swap and Rollover.
On most weekdays a position held through rollover gets one night of swap. On one weekday the platform charges or credits a triple swap. That single rollover also covers Saturday and Sunday, when there is no rollover of its own.
A triple swap does not mean extra cost. It is the weekend swap moved to a weekday, so the total over a full week stays the same.
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Why it happens: spot settlement and the weekend
Spot forex trades settle on a value date, which comes a set number of business days after the trade date. This is the standard spot convention. When you roll a position over, the value date also moves forward.
For most of the week, rolling forward moves the value date by one calendar day. Near the end of the week, the value date has to skip Saturday and Sunday because banks do not settle on those days. The rollover where this skip happens covers the weekend days as well as the normal day. Its interest is therefore triple.
Under the standard spot convention for most pairs, the weekend falls inside the value date on the Wednesday rollover. This is why traders talk about the Wednesday swap in forex.
Which day for which instrument
The day depends on how the instrument is financed and settled. Brokers set it in the contract specification. The table below shows the common pattern only, not a rule for any broker.
| Instrument type | Usual triple swap day | Reason |
|---|---|---|
| Major and cross forex pairs | Wednesday | Spot value date skips the weekend |
| Metals such as XAUUSD | Often Wednesday | Usually quoted and settled like spot forex |
| Stock indices such as US100 or NAS100 | Often Friday | Cash index CFDs are financed day by day, so the weekend is charged before it starts |
| Energies and other commodity CFDs | Varies | Depends on whether the CFD follows a futures contract or a cash price |
| Crypto CFDs | Often no triple day | Many charge every calendar day, weekends included |
Bank holidays in a currency's home country can also shift extra swap days onto another rollover. Weekends and holidays covers how markets close. If you use Exness, check the swap values and the triple swap day for each symbol in the contract specification, in the Exness personal area or on the official site.
How to calculate the amount
Use the calculator to turn the platform's swap points into money. Enter these inputs:
- the swap points for your direction, long or short, taken from the symbol specification in MetaTrader
- your position size in lots (see What is a lot)
- the contract size and pip or point value of the symbol (see What is a pip)
- the number of nights, set to the triple value for the triple swap day
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.
The calculator gives the swap for a single night and for the triple day. Swap points can be negative in both directions, and brokers can change them at any time. Check the current values before you use them.
For experienced traders: precise points
- Rollover time is the broker's server-time cut-off. A position open at that moment gets the swap, even if you opened it shortly before.
- Swap long and swap short are set separately. They include the broker's markup, so they are not a pure interest differential.
- Swap type may be in points, in the account currency or as a percentage. The calculation changes with the type, so read the specification in MetaTrader.
- Holding over the weekend brings gap risk as well as swap. See Price gaps.
- Swap-free accounts follow different rules. See Islamic finance.
Leveraged forex and CFD trading can lose money fast. A negative swap on a large position adds to that loss every night you hold it. For the full cost of a position, see Total trading costs and Swap fees.
Frequent questions
Why is the forex swap on Wednesday larger?
Under the spot settlement convention, the Wednesday rollover moves the value date past the weekend. That rollover therefore includes Saturday and Sunday.
Do I pay more swap in total because of the triple swap day?
No. The weekend interest is charged on one weekday instead of on Saturday and Sunday. The weekly total is the same.
Is the triple swap day always Wednesday?
Not always. Forex pairs usually use Wednesday. Indices and some other CFDs often use Friday, and many crypto CFDs charge every day. Check the contract specification for each symbol.
Can I avoid the triple swap by closing before rollover?
A position that is closed before the rollover time gets no swap for that night. Opening and closing trades has its own costs, such as spread and commission.
Can the triple swap be a credit?
Yes. If the swap for your direction is positive, you receive the triple amount. Swap rates change, so a credit is not guaranteed.