Forex overnight swap calculator: long and short financing in your account currency
Holding a forex trade overnight costs or earns a swap. Enter your broker's points and see both sides in dollars.
How it works: a forex position held past the daily cutoff pays or earns a swap. Your broker posts it in points for each side. A point is a small price step. This page turns points into money in three steps. Points times the point size gives a price move. That times your units gives an amount in the quote currency. That times the value of one quote currency unit gives your account currency. The result is rounded to the cent for each night. A minus sign means you pay.
Long and short are not mirror images
You might expect long to pay what short earns. It rarely does. The broker adds its own cut. Both sides can even be negative. Look at both lines before you leave a trade open. The base idea is in swap and rollover and the interest rate difference between two currencies.
Check the unit
The usual mix-up is the point. Some brokers quote swap in pips. Others use points, which are a tenth of a pip. Type the size your broker uses. Yen pairs and gold use different sizes. Your size and your quote-currency value also come from the pair. Use the pip value calculator to find the value of one unit of the quote currency, then see the cost of being open overnight in overnight risk.
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