1. What is Swap?
A Swap is the overnight interest charged or earned when holding a position overnight, based on interest rate differentials or financing costs.
📌 Settled automatically every night at 23:59 server time.
2. How is it generated?
Forex/Gold: from interest rate differentials between currencies
Indices, Oil, Crypto: based on financing cost and position direction
✅ It can be a cost (negative)
✅ Or an income (positive)
3. Common instruments calculation
Forex: based on currency rate differences
Gold/Silver: USD rate + financing rate
Indices: annualized rate, settled daily
Oil: futures rollover + financing, usually negative
Cryptocurrency: high volatility, swaps usually higher
4. Triple Swap Day
Every Wednesday (some platforms Friday), triple swaps are charged or credited to cover the weekend.
Holding overnight on Wednesday = 3 days of Swap
5. How to check?
MT5 → Market Watch → Right-click instrument → “Specification” → View Swap Long / Swap Short