Estimate overnight forex financing charges or credits from a signed swap rate, lot size, normal nights, and triple-swap events.
STEP-BY-STEP
How to use this tool
- Find the current long or short swap rate for the exact symbol and trade direction.
- Convert the platform’s points-based rate into account currency per standard lot if necessary.
- Enter the signed rate: use a negative number for a charge and positive for a credit.
- Enter position size, normal rollover nights, and triple-swap events separately.
- Add the planned gross result to see financing impact.
- Verify the actual rollover calendar, holidays, rate changes, and statement charges.
WORKED EXAMPLE
See the calculation in context
At −$6.50 per standard lot per night, one lot held for two normal nights plus one triple-swap event has five weighted nights and an estimated −$32.50 financing charge.
Calculation method
Weighted rollover nights = normal nights + three × triple-swap events. Estimated swap = signed swap per standard lot per night × lots × weighted nights. Negative rates are costs; positive rates are credits.
AVOID THESE ERRORS
Common mistakes
- Using the long rate for a short position or vice versa
- Entering a points-based swap as dollars
- Counting a triple-swap event as both one normal and three extra nights
- Assuming Wednesday is always the triple-swap day for every instrument
- Expecting a positive swap credit to remain unchanged
- Ignoring holidays, broker markups, and currency conversion
FREQUENTLY ASKED
Questions and answers
Why use a signed swap rate?
It allows the same calculator to model either a financing charge or a credit.
When is triple swap charged?
The day depends on the product, settlement convention, broker, and holiday calendar. Check the current symbol specification.
Can the swap rate change while a trade is open?
Yes. Brokers can update financing rates, and conversion values can move.