Account & costs
Overnight financing on a held position, per night and over the expected hold.
Overnight financing on a held position, per night and over the expected hold. The page states the equation, the units it expects and the rounding it applies, so the result can be reproduced by hand.
A calculator gives you a number. This one feeds the next: account to risk, risk to position size, position size to the trade, and the trade to expectancy, drawdown and risk of ruin.
See the performance tools →Most brokers charge three days of swap on Wednesday to cover the weekend settlement. Over a month that is roughly eight extra nights.
A negative carry of $7.20 per lot per night, one lot, held 30 nights:
On a position risking $250, the carry over a month exceeds the risk. On long holds the swap is often the dominant cost.
Spot FX settles two business days forward. A Wednesday position settles on Friday, so holding it rolls over the weekend, and three days of interest are charged at once.
Yes, when you are long the higher-yielding currency. Brokers take a margin on both sides, so positive carry is usually smaller than the raw rate differential.
It is the interest-rate differential between the two currencies, plus the broker's markup. The markup is why both directions are often negative even when the differential says one should pay.
A calculator answers one question and raises the next. These are the ones this figure feeds into.
Potential profit and loss on a trade, with costs included rather than assumed away.
Round-turn cost per trade, and what share of your risk it eats.
Exposure relative to equity, and why an affordable margin can still be reckless risk.
Swap Calculator · rounding shown to the precision displayed