Spread and swap cost calculator
Every trade starts a little behind. Enter the spread, commission and overnight swap to see what a trade costs to open and hold, and how far the price must move before you are even.
Your numbers
Add up what a trade costs to open and hold, before it has made a single pip.
Shown next to the price on your platform.
For the whole trade, in and out. 0 if none.
0 for a trade closed the same day.
Your platform shows it for each instrument. A minus sign means you pay it. Most brokers charge triple swap on one night a week, so count that night as three.
Your answer
Trading 1 lot of EUR/USD and holding it 3 nights costs about $34.00 in all: $12.00 spread, $7.00 commission and $15.00 in swap charges. The price has to move 3.4 pips in your favour before you are back to even.
- Spread
- −$12.00
- Commission
- −$7.00
- Swap
- −$15.00
- Value of one pip
- $10.00
Slippage and any other fees are not included. Spreads widen at news and at rollover, so the real spread can be larger than the one you typed.
+Show the working
- Value of one pip for 1 lot = $10.00.
- Spread cost = spread × pip value = 1.2 pips × $10.00 = $12.00.
- Commission = commission per lot × lots = $7.00 × 1 = $7.00.
- Swap = swap per lot per night × lots × nights = -5 × 1 × 3 = −$15.00.
- Total cost = spread + commission − swap = $12.00 + $7.00 − (−$15.00) = $34.00.
- Break-even = total cost ÷ pip value = $34.00 ÷ $10.00 = 3.4 pips.
EUR/USD live price
Track all markets on TradingView · For reference only; prices can differ from your broker's. Loaded from TradingView, a third party; see our privacy policy.
For information only, not financial advice. Trading carries a high risk of loss. Results depend on the values you enter and on your broker's contract specifications. Risk disclosure
The cost of getting in and staying in
A forex trade has costs that do not show up as a line on the chart. The spread is the gap between the buy and sell price, so a trade starts slightly in the red. Some accounts also charge a commission per lot. If the position stays open past the daily rollover, a swap is added or taken off. This calculator adds them together so you can see what a trade costs before you take it.
How it is calculated
- Spread cost = spread in pips × pip value of your position.
- Commission = commission per lot (for opening and closing) × number of lots.
- Swap = swap per lot per night × number of lots × nights held. A negative swap is a charge and a positive swap is a credit.
- Total cost = spread cost + commission − swap. Break-even distance = total cost ÷ pip value.
Worked example
You trade two lots of EUR/USD in a USD account, so one pip is worth $20. The spread is 1.2 pips, which costs $24. Commission of $7 per lot on two lots is $14. You hold the trade for three nights at −$5 per lot per night, which is −$30. The total is $24 + $14 + $30 = $68, and the price has to move 3.4 pips in your favour just to break even.
Why costs matter more for short trades
A fixed cost takes a bigger share of a small target. A 1.2 pip spread is a small part of a 100 pip swing trade, but it is more than a tenth of a 10 pip scalp. For that reason traders who aim for small moves look hard at spreads and commission, and traders who hold for days look at swap.
Things to remember
- Spreads are not fixed. They widen around news releases and at rollover, so a quoted typical spread is often lower than what you get at those times.
- Swap rates change as interest rates change. Check the figure on your platform on the day you trade.
- Slippage and platform fees are not included.
- Compare costs across instruments and account types before you decide where to trade, not after.
Frequently asked questions
+How is the spread cost calculated?
Multiply the spread in pips by the value of one pip at your position size. A 1.2 pip spread on two lots of EUR/USD in a USD account is 1.2 × $20 = $24.
+What is a swap?
A swap, also called rollover or overnight interest, is a charge or credit applied when a position stays open past the daily rollover time. It depends on the interest rates of the two currencies and on your broker.
+Where do I find the swap and commission for my account?
Your trading platform lists the swap for each instrument in its contract specification, often as a number for long and one for short. Commission is on your broker's fee page or in the account type details.
+Why does the calculator ask for nights held?
Swap is charged for every rollover the trade crosses, so it grows with the time you hold. Most brokers apply three times the normal swap on one night each week to cover the weekend, so count that night as three.
+What does the break-even distance mean?
It is the number of pips the price has to move in your favour just to pay back the total cost. A trade with a 15 pip target and a 3 pip break-even distance really aims to make 12 pips.