CFD Overnight Fee Calculator

Calculate the overnight holding cost (swap/rollover fee) for any CFD position. Estimate total financing costs across multiple nights for longs and shorts.

e.g. SOFR (US), SONIA (UK), EURIBOR (EU). Check your broker's rate schedule.

Broker markup added to the benchmark rate (both long and short).

Exchange Rate

Formula

Overnight fee formula (365-day basis)

Notional Value Contracts × Contract Size × Price
Annual Rate Long: Benchmark + Admin · Short: Admin − Benchmark
Fee Per Night Notional × Annual Rate% ÷ 100 ÷ 365 × Quote→Account Rate
Total Fee Fee Per Night × Nights

Positive = cost · Negative = credit received (possible for shorts in high-rate environments)

Worked Example

Given

Long 1 S&P 500 CFD · Contract size = 50 · Price = 5,000 · SOFR 5.25% · Admin 2.5% · 3 nights · USD account

Notional Value
1 × 50 × 5,000 = $250,000
Annual Rate (long)
5.25% + 2.5% = 7.75% p.a.
Fee Per Night
$250,000 × 7.75% ÷ 365 = $53.08
Total Fee (3 nights)
$53.08 × 3 = $159.25

Frequently Asked Questions

What is a CFD overnight fee?
An overnight fee (also called a swap or rollover charge) is the financing cost for holding a leveraged CFD position past the market close. Since you are trading on borrowed capital, the broker charges interest based on the notional position value. For shorts, when the benchmark rate exceeds the broker spread, you may receive a credit instead of paying a cost.
How is the overnight fee calculated?
For long positions: effective annual rate = benchmark rate + admin spread. For short positions: effective annual rate = admin spread − benchmark rate (can be negative, meaning a credit). Daily fee = notional value × effective rate ÷ 365. The calculator uses a 365-day basis, which is the CFD industry standard (some brokers use 360 — check your broker's terms).
What benchmark rate should I use?
For USD-denominated CFDs, use SOFR (Secured Overnight Financing Rate). For GBP-denominated, use SONIA. For EUR, use EURIBOR or €STR. These rates are published daily. Your broker's trading conditions page should list which benchmark rate they apply and their admin spread.
Do overnight fees apply to all CFDs?
Fees apply to all CFDs held past a specific cut-off time (typically 5pm New York). Some brokers charge a triple rollover on Wednesdays to account for weekend settlement. Futures-based CFDs may not incur overnight fees but instead embed the financing cost in the spread or forward price.
Can the overnight fee be a credit for short positions?
Yes. When the benchmark rate is higher than the broker admin spread (a high-rate environment), short-position holders receive the difference as a credit. At SOFR=5.25% with admin spread=2.5%, the short credit rate = 2.5% − 5.25% = −2.75% (i.e. a credit of 2.75% per year on the notional). Long holders pay 5.25% + 2.5% = 7.75%.