What is swap?

What it means

Because a leveraged position is effectively financed, holding it past the daily rollover incurs an interest adjustment. It can be positive or negative depending on the instrument and direction, though on most retail accounts and most instruments it is a cost in both directions once the broker's markup is applied.

Why it matters

One weekday carries triple swap to account for the weekend, commonly Wednesday. A strategy that holds positions for days will pay this repeatedly, and on a small account the accumulated cost is easy to underestimate — the swap calculator makes it concrete.

What this changes in practice

For intraday systems swap is close to irrelevant, and that is a genuine structural advantage rather than a detail. Our engine trades a session window and does not carry positions across the rollover, so swap does not enter the cost model at all. Any comparison between an intraday bot and a swing system should account for this rather than comparing gross returns.