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What is overnight interest/swap?

07/10/2025 06:28:58

At DecodeFX, overnight interest, also known as swap fees, are incurred when your position crosses the daily settlement time of 5:00 PM Eastern Time (EST).

  • Fees are charged when the position's direction and interest rate differential are unfavorable.
  • Gains are earned when the position's direction and interest rate differential are favorable.

This fee is based on the interest rate differential between the currencies or assets underlying the trading instrument.

 

Settlement Rules
  • Settlement Time: At DecodeFX, overnight swaps are settled daily at 00:00:00 platform time (GMT+2/GMT+3).
  • Triple Swap Settlement Days:
    Due to the T+3 settlement system, some instruments incur triple overnight swaps on certain days:
  • Wednesday: Major forex currency pairs and precious metals (due to the weekend).
  • Friday: Indices, cryptocurrencies, and crude oil (USD/UK).

*DecodeFX does not currently offer Islamic accounts (swap-free accounts).

 

Calculation Method

Calculation by Percentage (%)

Formula: Closing Price × Lots × Contract Size × Annualized Swap Rate ÷ 360

Example:

Opening a 1-lot ETH/USD long position, Closing Price = 3021, Swap Rate = -15%

3021 × 1 × 1 × -15% ÷ 360 ≈ -$1.25

If the day falls on a Friday, the fee is multiplied by 3.

 

Calculation by Points

Formula: Lots × Contract Size × Swap Points ÷ Decimal Places

Decimal Places: 2 decimal places = 100, 4 decimal places = 10,000

Example:

  • XAG/USD 0.1 lot, contract size 5000, swap point 52.15 (4 decimal places)

0.1 × 5000 × 52.15 ÷ 10,000 = $2.607

  • XAU/USD 0.1 lot, contract size 100, swap point 39.98 (2 decimal places)

0.1 × 100 × 39.98 ÷ 100 = $3.998

 

 

Please note:

The amount and direction of overnight fees charged and deposited by the platform are not fixed. DecodeFX may change them at any time based on the characteristics of the trading instrument and market fluctuations. Therefore, please carefully review the platform's overnight fee information before deciding to roll over a position to avoid unnecessary losses.