Carry Trading Interest Rates

Carry Trading Interest Rates

Yield Averages and Best Trade by Broker

The table below shows the net interest rate yields on the most liquid currency pairs. The “broker average” column shows the average yield and swap spreads across multiple brokers. The “highest yield” column lists the broker with the most attractive current yield/spread combination. The final columns, “daily income”, shows the potential daily income on 1 standard lot carry trade using the best broker rate.

Data as of:January 2017

Carry Trade Broker Average Highest Yield Daily Income
NZDCHF Long 1.92% 1.57% FOREX 3.16% 0.620 $6.14
EURNZD Short 1.66% 1.20% HOTFOREX 2.99% 1.230 $8.64
NZDJPY Long 1.52% 1.22% FOREX 3.17% 0.700 $6.15
AUDCHF Long 1.53% 1.50% FOREX 3.06% 0.630 $6.23
GBPNZD Short 1.41% 0.92% HOTFOREX 2.98% 1.450 $10.18
AUDJPY Long 1.19% 1.34% FOREX 2.64% 0.610 $5.36
EURAUD Short 1.23% 1.07% DUKASCOPY 2.47% 0.979 $7.18
NZDUSD Long 0.91% 1.10% FOREX 3.17% 0.610 $6.10
GBPAUD Short 0.90% 0.89% FOREX 1.74% 0.810 $5.94
EURHKD Short 0.66% 1.73% FXOPEN 2.01% 0.454 $5.85
NZDCAD Long 0.90% 0.99% ETORO 1.77% 0.450 $3.40
AUDUSD Long 0.65% 0.88% FOREX 2.64% 0.530 $5.30
AUDCAD Long 0.67% 0.91% FOREX 1.48% 0.400 $3.03
CADCHF Long 0.41% 0.86% DUKASCOPY 1.10% 0.230 $2.28
USDCHF Long 0.36% 1.07% DUKASCOPY 1.70% 0.470 $4.65
EURCAD Short 0.22% 0.73% DUKASCOPY 0.91% 0.350 $2.65
GBPCHF Long 0.23% 0.87% ETORO 1.26% 0.435 $4.30
EURUSD Short 0.24% 0.77% DUKASCOPY 1.31% 0.380 $3.80
GBPJPY Long -0.05% 0.69% FOREX 0.33% 0.130 $1.14
USDJPY Long -0.03% 0.97% DUKASCOPY 1.01% 0.315 $2.77
EURGBP Short -0.06% 0.62% DUKASCOPY 0.73% 0.170 $2.11
CADJPY Long -0.10% 0.86% AAAFX 0.58% 0.138 $1.21
CHFSGD Short -0.32% 1.63% EXNESS 1.66% 0.639 $4.47
GBPUSD Short -0.32% 0.62% DUKASCOPY 0.65% 0.220 $2.20
SGDJPY Long -0.41% 1.17% FOREX 0.46% 0.100 $0.88
AUDNZD Short -0.40% 0.81% ETORO 0.40% 0.114 $0.80
USDCAD Long -0.41% 0.58% DUKASCOPY 1.38% 0.500 $3.78
GBPCAD Short -0.42% 0.63% FOREX 0.39% 0.180 $1.36
AUDSGD Long -0.44% 3.09% EASYFOREX 1.46% 0.423 $2.96
EURCHF Long -0.41% 0.94% FOREX 0.17% 0.050 $0.49
CHFJPY Short -0.38% 0.91% DUKASCOPY 0.48% 0.148 $1.30
USDHKD Long -0.62% 0.90% DUKASCOPY 0.27% 0.582 $0.75
EURJPY Short -0.62% 0.67% DUKASCOPY 0.27% 0.089 $0.78
EURSGD Short -0.87% 1.70% DUKASCOPY 1.04% 0.430 $3.01
NZDSGD Long -1.32% 2.42% Alpari 1.09% 0.300 $2.10
USDSGD Long -1.38% 1.39% FXOPEN 0.13% 0.052 $0.37
GBPSGD Short -1.48% 1.65% EXNESS 0.24% 0.120 $0.84

Figure 1
Currency Pairs Average Net Interest Yields
Yields ordered by currency pair and trade.
Swap yields by currency
 © forexop

Carry Trades with Highest Return by Broker

Broker Pair Direction Net Yield % 1 Year Interest/Lot
FOREX NZDUSD Long 3.17% $2226.50
FOREX NZDJPY Long 3.17% $2222.31
FOREX NZDCHF Long 3.16% $2215.81
FOREX AUDCHF Long 3.06% $2247.09
Alpari NZDCHF Long 2.90% $2037.12
DUKASCOPY AUDCHF Long 2.76% $2022.10
FOREX AUDUSD Long 2.64% $1934.50
ETORO AUDCHF Long 2.59% $1898.00
DUKASCOPY NZDJPY Long 2.20% $1547.60
ETORO NZDJPY Long 2.18% $1533.00
HOTFOREX EURNZD Short 2.99% $3170.07
HOTFOREX GBPNZD Short 2.98% $3693.10
DUKASCOPY EURNZD Short 2.73% $2894.45
FOREX GBPNZD Short 2.61% $3234.65
ETORO EURNZD Short 2.58% $2737.50
DUKASCOPY EURAUD Short 2.47% $2620.70
FOREX EURNZD Short 2.43% $2577.29
ETORO GBPNZD Short 2.24% $2774.00
FXDD EURNZD Short 2.22% $2349.20
FOREX EURAUD Short 2.16% $2290.45

Figure 2
Swap Yield Advantage By Broker
This chart compares the broker's yield percentage above/below the average.

Yield advantage by broker
 © forexop

Rollover Types and Fees by Broker

Broker Rollover Spread (pips) Spread % Yearly Fee/Lot Yield Advantage
Dukascopy Overnight 0.11 0.33% $329.58 0.75%
Forex Overnight 0.13 0.45% $446.37 0.50%
Exness Overnight 0.17 0.47% $471.09 0.63%
FXOpen Overnight 0.24 0.77% $769.19 0.27%
Oanda Continuous 0.32 0.89% $889.19 0.24%
Fxdd Overnight 0.31 0.90% $902.32 0.05%
Alpari Overnight 0.29 0.98% $975.63 0.05%
Fxpro Overnight 0.31 0.99% $990.60 0.05%
Thinkfx Overnight 0.38 1.11% $1114.36 -0.17%
eToro Overnight 0.49 1.13% $1134.36 -0.19%
AAAfx Overnight 0.35 1.15% $1154.48 -0.22%
Avatrade Overnight 0.36 1.16% $1155.00 -0.18%
Hotforex Overnight 0.44 1.20% $1203.27 -0.25%
Instaforex Overnight 0.48 1.38% $1376.29 -0.26%
Fxcc Overnight 0.42 1.46% $1455.60 -0.52%
FXTM Overnight 0.44 1.50% $1495.15 -0.59%
EasyForex Overnight 0.60 1.59% $1593.37 -0.56%

Figure 3
Average swap fees by broker

Average swap fees by broker
 © forexop

Disclaimer: Swap rates are variable and can change each day. The swap rates you achieve can vary significantly with account type, leverage and other factors. Always check the contract specification provided by your broker and check the complete fee structure. Swap income can sometimes be negated by other fees.

To check live broker swap rates, please use the carry trader indicator.

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