Direct answer
Rollover for CHF/JPY is the interest adjustment you receive (credit) or pay (debit) for holding a position overnight. Conceptually, it comes from the interest-rate differential between the Swiss franc (CHF) and the Japanese yen (JPY), then gets translated into “swap points” using the trading platform’s calculation conventions.
Because providers can publish the final swap as a set of fixed points (often called swap points, swap rate, or carry), the exact cash amount you see for CHF/JPY can vary by provider, account type, leverage, contract size, and how the provider treats overnight versus spot timing.
The mechanics: what “rollover” means
In spot forex, currency pairs are quoted with a spot price and an implied interest-rate difference. When you hold a trade through the daily cutoff, the position effectively reflects those implied interest costs/benefits rather than only the movement of the spot rate.
Most retail platforms handle this by applying a per-day adjustment (rollover) based on whether you are long or short the base/quote currencies:
- For a long CHF/JPY position, you typically pay the cost of funding CHF and receive the benefit of holding JPY (or the reverse, depending on the provider’s sign convention).
- For a short CHF/JPY, the direction flips.
To compute an approximate rollover amount, platforms usually use a formula shaped like this:
- Start with swap points (or a swap rate) for CHF/JPY for the side you hold (buy/long vs sell/short).
- Convert swap points into money using the position size and contract specifications.
Even if the platform shows swap points per day, the key inputs behind those points are the interest-rate inputs it uses (or approximations of them) plus the platform’s internal adjustments.
Interest-rate inputs and broker/provider adjustments
A practical way to “understand what is being calculated” is to separate two layers:
1) Market interest differential (stable concept)
The interest differential between CHF and JPY is the underlying economic driver. In broad terms, higher expected short-term rates in one currency raise the value of holding that currency versus the other.
2) Provider translation (variable in practice)
The platform then converts the differential into swap points using its own conventions, which can include:
- Quote and sign convention (whether positive swap appears as credit or debit for the long/short side).
- Contract size / lot value (how many units of the base or quote currency the “points” map to).
- Rounding and day-count rules used by the platform.
- Any provider markup or internal cost adjustments, if the swap is not purely market-based.
Because these items are provider-specific, two accounts can show different rollover amounts even on the same CHF/JPY trade direction and size.
The triple-swap convention (a common failure mode)
A major limitation when people try to calculate rollover themselves is the timing of overnight charges/credits.
On many forex markets, when the weekend settlement affects value dates, the platform may apply an increased rollover on a specific weekday (often described as “triple swap”). That means:
- The normal daily rollover is effectively multiplied (for at least one day) to cover the longer settlement period.
- If you calculate assuming the same one-day adjustment every day, your result will be off—especially around the weekend.
So the most common calculation failure mode is not the interest math, but calendar and cutoff handling.
Evidence or example (with stated assumptions)
Because providers vary, a safe educational example uses generic placeholders rather than claiming a specific live CHF/JPY swap rate.
Assume:
- Your platform lists swap points for CHF/JPY long as “S” per day.
- Your trade size is “N” lots.
- The contract specification converts 1 swap point into “V” currency units per lot.
- The rollover is charged on most days as a one-day value, but the rollover on one day uses a triple factor.
Then a simplified expected rollover over three consecutive trading days might look like:
- Day 1: S × V × N
- Day 2: S × V × N
- Day 3 (triple rollover day): 3 × S × V × N
If your platform applies triple rollover, the total over those three days is (1 + 1 + 3) = 5 days worth of the daily swap points.