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:December 2016

Carry Trade Broker Average Highest Yield Daily Income
NZDCHF Long 1.87% 1.53% FOREX 3.19% 0.620 $6.14
AUDCHF Long 1.73% 1.32% NORDFX 4.38% 0.900 $8.91
EURNZD Short 1.65% 1.22% HOTFOREX 2.97% 1.230 $8.72
NZDJPY Long 1.58% 1.09% FOREX 3.30% 0.700 $6.39
GBPNZD Short 1.39% 0.97% HOTFOREX 3.01% 1.450 $10.28
AUDJPY Long 1.32% 1.20% NORDFX 3.24% 0.750 $6.84
EURAUD Short 1.18% 1.04% NORDFX 2.81% 1.100 $8.16
NZDUSD Long 1.15% 1.07% FOREX 3.14% 0.610 $6.10
NZDCAD Long 1.00% 0.92% NORDFX 1.92% 0.500 $3.76
AUDUSD Long 0.96% 1.01% NORDFX 4.43% 0.900 $9.00
AUDCAD Long 0.71% 0.75% NORDFX 2.17% 0.600 $4.51
EURHKD Short 0.69% 1.79% FXOPEN 2.13% 0.485 $6.25
CADCHF Long 0.44% 0.78% DUKASCOPY 1.11% 0.230 $2.28
GBPCHF Long 0.27% 0.73% ETORO 1.24% 0.435 $4.30
USDCHF Long 0.20% 0.81% DUKASCOPY 1.30% 0.360 $3.56
EURCAD Short 0.20% 0.62% DUKASCOPY 0.85% 0.330 $2.48
GBPAUD Short 0.14% 1.64% NORDFX 1.98% 0.900 $6.68
CADJPY Long 0.04% 0.66% DUKASCOPY 0.89% 0.202 $1.84
EURUSD Short 0.03% 0.70% DUKASCOPY 0.96% 0.280 $2.80
GBPJPY Long -0.01% 0.67% DUKASCOPY 0.69% 0.260 $2.37
USDJPY Long -0.11% 0.64% DUKASCOPY 1.12% 0.336 $3.07
EURGBP Short -0.11% 0.57% DUKASCOPY 0.52% 0.120 $1.51
CHFJPY Short -0.23% 0.71% Alpari 0.37% 0.110 $1.00
EURCHF Long -0.30% 0.82% EXNESS 0.34% 0.101 $1.00
CHFSGD Short -0.35% 1.49% EXNESS 1.64% 0.634 $4.46
GBPCAD Short -0.39% 0.58% FOREX 0.39% 0.180 $1.35
USDSGD Short -0.40% 0.66% EXNESS 0.49% 0.190 $1.34
SGDJPY Long -0.40% 1.04% EXNESS 0.97% 0.206 $1.88
AUDNZD Short -0.41% 0.74% ETORO 0.39% 0.113 $0.80
USDCAD Short -0.44% 0.58% THINKFX 0.36% 0.130 $0.98
EURJPY Short -0.45% 0.53% FXOPEN 0.11% 0.035 $0.32
AUDSGD Long -0.46% 2.82% EASYFOREX 1.45% 0.423 $2.97
GBPUSD Short -0.55% 0.59% AAAFX 0.21% 0.073 $0.73
USDHKD Long -0.60% 0.71% FXOPEN 0.08% 0.169 $0.22
EURSGD Short -0.73% 1.36% DUKASCOPY 0.94% 0.390 $2.74
NZDSGD Long -0.85% 1.86% Alpari 1.58% 0.430 $3.02
GBPSGD Short -1.35% 1.56% EXNESS 0.67% 0.322 $2.26

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
NORDFX AUDUSD Long 4.43% $3285.00
NORDFX AUDCHF Long 4.38% $3251.04
FOREX NZDJPY Long 3.30% $2339.53
NORDFX AUDJPY Long 3.24% $2406.50
FOREX NZDCHF Long 3.19% $2261.88
Alpari NZDCHF Long 3.09% $2188.92
FOREX AUDCHF Long 3.07% $2275.73
FOREX AUDJPY Long 2.64% $1957.29
ETORO AUDCHF Long 2.56% $1898.00
DUKASCOPY NZDCHF Long 2.55% $1806.75
HOTFOREX GBPNZD Short 3.01% $3795.27
HOTFOREX EURNZD Short 2.97% $3157.44
LITEFOREX EURNZD Short 2.89% $3080.43
NORDFX EURAUD Short 2.81% $2993.53
FOREX GBPNZD Short 2.63% $3324.13
ETORO EURNZD Short 2.57% $2737.50
DUKASCOPY EURNZD Short 2.48% $2638.95
FOREX EURNZD Short 2.41% $2567.02
ETORO GBPNZD Short 2.20% $2774.00
FOREX EURAUD Short 2.17% $2313.18

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
Hymarkets Overnight 0.03 0.09% $88.40 0.89%
Dukascopy Overnight 0.11 0.33% $332.98 0.65%
Exness Overnight 0.15 0.40% $396.47 0.59%
Forex Overnight 0.14 0.45% $451.55 0.42%
Alpari Overnight 0.15 0.49% $493.13 0.42%
NordFX Overnight 0.25 0.76% $755.28 0.11%
FXOpen Overnight 0.23 0.77% $767.52 0.18%
AAAfx Overnight 0.25 0.83% $833.01 0.04%
Thinkfx Overnight 0.26 0.86% $864.63 0.00%
Oanda Continuous 0.32 0.89% $889.19 0.13%
Fxdd Overnight 0.27 0.91% $914.69 -0.04%
Fxpro Overnight 0.32 1.04% $1044.05 -0.21%
eToro Overnight 0.49 1.13% $1126.53 -0.26%
Avatrade Overnight 0.36 1.18% $1182.14 -0.31%
Hotforex Overnight 0.44 1.19% $1193.88 -0.33%
LiteForex Overnight 0.47 1.27% $1265.00 -0.40%
Instaforex Overnight 0.46 1.32% $1317.21 -0.31%
Fxcc Overnight 0.42 1.47% $1468.80 -0.59%
FXTM Overnight 0.46 1.48% $1484.39 -0.49%
EasyForex Overnight 0.60 1.60% $1600.60 -0.67%

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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