Formula
| Item | Expression |
|---|---|
| Swap per day (JPY) | Swap points (per lot, per day) × lots × USD/JPY (for USD-denominated swap) |
| Days charged (equivalent) | Holding days + number of Wednesdays in the period × 2 (when triple swap is enabled) |
| Total over the holding period | Swap per day × days charged |
Long and short are calculated separately. A negative value means you pay.
Why look at swap in yen
Swap points are listed in the broker's instrument specifications in points or USD, which makes the total over a holding period hard to see. Multiplying by lots and days and converting to yen shows whether an overnight trade is a cost or an income.
Many brokers charge the weekend's swap in one go on a particular weekday. Because many apply triple swap on Wednesday, this tool counts Wednesdays in the day calculation.
How to read the result
Long and short swap normally have opposite signs, and on some instruments both are a charge. For short-term trades the spread matters more; for long-term holding the swap matters more.
- At 5 USD per lot per day, held 30 days with 4 Wednesdays, that is 38 days charged, or 190 USD
- Holding an instrument with negative swap for a long time can cost more than the cashback you receive
- Some brokers and instruments apply triple swap on Friday, so check the specifications
Points to note
Swap points vary by broker, instrument and day, and can move sharply around holidays and interest rate changes. Check the latest value in the official instrument specifications before calculating.