Swap / Rollover Calculator
Calculate overnight swap charges or credits for any forex position — enter your broker's exact rates, adjust for triple-swap Wednesdays, and see the total cost or credit in USD and INR.
Swap / Rollover Calculator
Calculate overnight swap charges or credits for holding any forex position past rollover. Includes triple-swap Wednesday adjustment.
| Period | Eff. Days | USD | INR |
|---|---|---|---|
| 1 Day | 1 | $-6.50 | -₹549 |
| 3 Days | 3 | $-19.50 | -₹1648 |
| 1 Week | 7 | $-45.50 | -₹3845 |
| 2 Weeks | 14 | $-91.00 | -₹7690 |
| 1 Month | 30 | $-195.00 | -₹16478 |
| 3 Months | 91 | $-591.50 | -₹49982 |
| 6 Months | 182 | $-1183.00 | -₹99964 |
About Swap / Rollover Calculator
Swap (also called rollover or overnight financing) is the interest rate differential charged or credited when a forex position is held open past the daily rollover time — typically 5:00 PM New York time. Every currency pair involves borrowing one currency to buy another. The swap reflects the difference between the interest rates of the two currencies in the pair: if you borrow a low-rate currency to buy a high-rate currency, you earn positive swap (carry credit). If you borrow a high-rate currency to buy a low-rate currency, you pay negative swap (rollover cost).
Swap rates are expressed differently across brokers — some show them in pips per standard lot per day, others in USD per lot per day, and some in percentage terms. This calculator uses USD per standard lot per day, which is the most universally comparable format. The key formula is: daily swap = swap rate × lot size. For a 0.1-lot mini position on EUR/USD at a swap rate of -$6.50 per standard lot per day, the daily cost is -$0.65.
The most important characteristic of forex swap is the triple swap on Wednesday. Because forex markets are closed on weekends but interest accrues every day, brokers charge three days of swap on Wednesday to cover the Saturday and Sunday accrual. This means that a position held open during Wednesday rollover gets three times the normal daily swap — making Wednesday the most expensive day to hold a position overnight if swap is negative, or the most profitable if swap is positive.
For position traders and carry trade practitioners, swap is a significant P&L component. A hedge fund running a carry trade on USD/JPY (borrowing JPY at ~0.1% to hold USD at ~5.25%) earns positive swap on long USD/JPY positions every day. Over months or years, this accumulates into a meaningful income stream. Conversely, retail traders holding EUR/USD long positions overnight silently bleed swap costs that reduce or eliminate any paper gains. The holding period reference table in this calculator shows exactly how swap accumulates from days to months.
How to Use the Swap / Rollover Calculator
Select the currency pair from the group tabs. Selecting a pair loads approximate typical swap rates as a starting point — you must replace these with your broker's actual rates.
Choose your position direction — Long if you bought the pair, Short if you sold it. Each direction has a different swap rate.
Set your lot size using the preset buttons or custom input. Swap scales linearly with lot size: 2 lots pays or earns exactly twice the swap of 1 lot.
Enter your broker's swap rates for both Long and Short positions. Find these in MT4/MT5 by right-clicking the pair in Market Watch → Specification, or in your broker's contract specifications page.
Enter the number of trading days held and the number of triple-swap Wednesdays spanned. Each Wednesday adds 2 extra swap days (3× instead of 1×). For a 2-week position: typically 10 trading days + 2 Wednesdays.
Read the results — the calculator shows daily swap, total swap for your period, INR equivalent, and an annualised estimate. The reference table shows how swap accumulates across common holding periods.
Pro Tips
Swap rates shown as defaults are approximate typical values. Actual rates vary by broker, change daily, and can differ by 20%–50% from these estimates. Always check your broker's specification page before calculating.
Retail traders who swing trade over weekends often underestimate swap costs because they forget Wednesday triples. A position held Mon–Fri incurs: Mon swap + Tue swap + 3×Wed swap + Thu swap = 6 days of swap for 4 calendar nights held.
USD/JPY long and USD/CHF long typically earn positive swap because the Fed funds rate is much higher than BOJ and SNB rates. Carry traders go long high-yield currencies and short low-yield currencies to collect daily swap credits.
Some brokers offer swap-free accounts for traders who cannot earn or pay interest for religious reasons. Instead, they typically charge a fixed administration fee after a certain holding period. Always compare the total cost of swap-free accounts against regular accounts for your typical position duration.
Frequently Asked Questions
What is forex swap / rollover?
Forex swap (rollover) is the interest rate differential applied when a position is held open past the daily rollover time (usually 5 PM New York). Since every forex trade involves borrowing one currency to buy another, you earn interest on the currency you hold and pay interest on the currency you borrowed. The net of these two rates (adjusted for broker margin) is the swap. Positive swap = you earn money for holding the position. Negative swap = you pay a daily cost. The size depends on the interest rate gap between the two currencies in the pair.
What is triple swap on Wednesday?
Forex markets are closed on weekends (Saturday and Sunday), but interest accrues every calendar day. To account for this, brokers apply three days of swap on Wednesday — covering Wednesday night + the coming Saturday + Sunday. This means any position held open during Wednesday's rollover is charged or credited three times the normal daily swap amount. For positions with negative swap, this makes Wednesday overnight the most expensive single hold. For positive swap positions, Wednesday is the most profitable overnight in the week.
How do I find my broker's swap rate?
In MetaTrader 4 or MetaTrader 5: right-click any pair in the Market Watch → select "Specification" or "Symbol Properties" → look for "Swap Long" and "Swap Short" fields. These are shown in pips or USD per standard lot per day depending on your broker's display format. In cTrader: right-click pair in Market Watch → "Symbol Info" → Swap Long/Short. On web platforms, check the broker's website under "Contract Specifications" or "Trading Conditions." The JustWolves calculator accepts rates in USD per standard lot per day — if your broker shows pips, multiply by pip value for that pair.
Can swap rates be positive (earn money)?
Yes. Positive swap means you receive a daily credit for holding a position. This occurs when the interest rate of the currency you bought is higher than the interest rate of the currency you sold. Classic positive swap pairs include: USD/JPY Long (holding USD, paying JPY costs), USD/CHF Long (holding USD, paying CHF costs), AUD/USD Short (holding USD, selling AUD). The difference between the two central bank rates is called the "carry" — exploiting this across multiple large positions is the basis of the "carry trade" strategy used by institutions.
Does swap affect my stop-loss and take-profit?
Swap does not move your stop-loss or take-profit levels — it is a separate daily credit or debit to your account balance. However, negative swap reduces your account equity every day you hold a position, which effectively increases the loss on a losing trade. For very long holds (weeks to months), accumulated negative swap can exceed the original pip loss. This is why position traders always factor total swap cost into their trade planning — not just the SL price.
What is a carry trade?
A carry trade is a strategy where a trader borrows in a low-interest-rate currency and invests in a high-interest-rate currency, collecting the interest rate differential (the "carry") as daily swap income. The classic example: borrow JPY at ~0.1% interest → buy USD at ~5.25% interest → earn the ~5.15% annual carry on the position. In a leveraged forex account, this translates to daily positive swap on USD/JPY long positions. The risk: if the exchange rate moves sharply against you, the capital loss can far exceed the accumulated swap income — which is why the carry trade "unwinds" violently during risk-off events.
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