Carry Trading Interest Rates

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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: September 2020

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Carry Trade Broker Average Highest Yield Daily Income
USDCHF Long 0.18% 1.09% Alpari 0.48% $1.31
AUDCHF Long 0.13% 1.05% Alpari 0.50% $0.98
NZDCHF Long 0.06% 1.33% AAAFX 0.47% $0.85
GBPCHF Long 0.00% 1.03% Alpari 0.30% $1.12
EURUSD Short -0.04% 0.89% AAAFX 0.35% $1.13
EURNZD Short -0.14% 1.07% AAAFX 0.35% $1.15
CADCHF Long -0.14% 1.26% SIMPLEFX 0.55% $1.13
EURCAD Short -0.15% 1.00% SIMPLEFX 0.33% $1.07
EURAUD Short -0.21% 1.00% AAAFX 0.34% $1.11
EURGBP Short -0.24% 0.89% AAAFX 0.29% $0.94
CHFJPY Short -0.37% 0.95% AAAFX 0.23% $0.69
CADJPY Long -0.39% 1.04% Alpari 0.64% $1.32
USDJPY Long -0.41% 0.97% AAAFX 0.08% $0.22
NZDJPY Long -0.47% 1.22% AAAFX 0.15% $0.27
AUDJPY Long -0.50% 1.02% Alpari 0.10% $0.19
GBPJPY Long -0.54% 0.95% AAAFX -0.04% -$0.16
GBPUSD Short -0.58% 0.85% AAAFX -0.10% -$0.35
EURCHF Long -0.62% 0.91% AAAFX 0.01% $0.02
EURJPY Short -0.63% 0.91% AAAFX 0.13% $0.44
GBPNZD Short -0.67% 0.97% AAAFX 0.03% $0.12
USDCAD Long -0.69% 0.94% AAAFX -0.16% -$0.44
AUDUSD Short -0.75% 0.92% AAAFX -0.21% -$0.41
GBPCAD Short -0.78% 0.93% AAAFX -0.23% -$0.83
NZDCAD Long -0.81% 0.97% AAAFX 0.02% $0.04
CHFSGD Short -0.85% 1.85% FXTM 0.97% $2.91
GBPAUD Short -0.87% 0.98% AAAFX -0.17% -$0.64
AUDCAD Short -0.98% 1.00% AAAFX -0.28% -$0.55
NZDUSD Short -1.01% 1.03% AAAFX -0.18% -$0.32
EURSGD Short -1.04% 2.10% Alpari 0.59% $1.91
SGDJPY Long -1.06% 1.89% FXTM 0.52% $1.04
AUDNZD Short -1.08% 1.15% AAAFX -0.08% -$0.16
USDHKD Short -1.31% 1.38% INSTAFOREX -0.31% -$0.84
EURHKD Short -1.44% 2.36% FXTM 0.32% $1.06
USDSGD Long -1.54% 1.73% FXOPEN -0.61% -$1.68
AUDSGD Short -1.66% 2.04% FXTM -0.45% -$0.87
GBPSGD Short -1.79% 2.30% Alpari -0.43% -$1.56
NZDSGD Short -3.03% 3.11% FXOPEN -1.06% -$1.92
Figure 1
Currency Pairs Average Net Interest Yields
Yields ordered by currency pair and trade.

[wpbusinessintelligence id=”4″ type=”chart” iframe=”n” ]History[/wpbusinessintelligence]

Carry Trades with Highest Return by Broker

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Broker Pair Direction Net Yield % 1 Year Interest/Lot
FXTM CHFSGD Short 0.97% $1,061.42
Alpari CADJPY Long 0.64% $481.85
Alpari EURSGD Short 0.59% $697.89
SIMPLEFX CADCHF Long 0.55% $411.61
FXTM SGDJPY Long 0.52% $378.52
Alpari AUDCHF Long 0.50% $357.87
Alpari USDCHF Long 0.48% $477.29
AAAFX NZDCHF Long 0.47% $310.25
AAAFX EURNZD Short 0.35% $419.75
AAAFX EURUSD Short 0.35% $412.45
AAAFX EURAUD Short 0.34% $405.15
SIMPLEFX EURCAD Short 0.33% $391.07
FXTM EURHKD Short 0.32% $386.21
Alpari GBPCHF Long 0.30% $407.07
AAAFX EURGBP Short 0.29% $343.10
AAAFX CHFJPY Short 0.23% $251.85
AAAFX NZDJPY Long 0.15% $98.55
AAAFX EURJPY Short 0.13% $160.60
Alpari AUDJPY Long 0.10% $68.82
AAAFX USDJPY Long 0.08% $80.30

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

[wpbusinessintelligence id=”5″ type=”chart” iframe=”n” ]History[/wpbusinessintelligence]

Rollover Types and Fees by Broker

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Broker Rollover Spread % Yearly Fee/Lot Yield Advantage
AAAFX Overnight 0.36% $359.24 0.79%
EXNESS Overnight 0.61% $611.64 0.54%
DUKASCOPY Overnight 0.77% $770.41 0.38%
FXOPEN Overnight 0.79% $788.89 0.36%
SIMPLEFX Overnight 1.01% $1,008.67 0.14%
NORDFX Overnight 1.04% $1,041.55 0.11%
OANDA Continuous 1.22% $1,218.19 -0.07%
HOTFOREX Overnight 1.27% $1,268.21 -0.12%
Alpari Overnight 1.31% $1,306.88 -0.16%
FXTM Overnight 1.36% $1,356.78 -0.21%
EASYFOREX Overnight 1.79% $1,789.27 -0.64%
INSTAFOREX Overnight 2.09% $2,085.37 -0.94%

Figure 3
Average swap fees by broker

[wpbusinessintelligence id=”6″ type=”chart” iframe=”n” ]History[/wpbusinessintelligence]

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

To find and compare carry trades from any broker, use the carry trader indicator .

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