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How is funding on forex positions calculated?

FX and spot metals funding

A tom-next rather than an interbank rate is used in the calculation of funding costs for forex and spot metals.

Tom-next is the day’s market swap rate for that pair or metal.

Example tom-next rate: -1.39/-0.39.

-0.39 would be used to calculate the funding cost on a long position.

-1.39 would be used to calculate the funding cost on a short position.

Size x (tom-next rate + admin fee) 

CFD

Size means total value of lots (number of lots x value per lot)

Tom-next is the day’s market swap rate for that pair or metal

Admin fee is no more than 0.3% per annum (0.8% for mini contracts)

Three-day funding is charged on Wednesday 10pm UK time. For more information please visit our FX product details.