The cost of rolling position overnight

Opening a FOREX position is exchanging one currency for another. For example, opening USDCHF BUY 1 lot, a trader receives 100 thousand US dollars (USD) in exchange for an equivalent value of Swiss franks (CHF). At the time of this writing USD 100,000 is approximately equivalent to 114,000 franks. Usually, the trader does not have such amount of franks (trading is conducted with 1:100 margin). The trader must loan the money first. Once the position is opened, the trader is in debt for CHF 114,000 and his account is credited with USD 100,000. The loan has to be serviced: the trader must pay an interest. On the other hand, the dollar deposit earns interest for the trader. It's unknown how long the trader plans to keep the position open, thus the loan/deposit have to be renewed every day. The interest rate for the shortest possible period is used. Usually it's overnight rates LIBOR for the loan, and LIBID for the deposit. At the time of this writing the LIBOR CHF rate is 0.58%, LIBID USD is 2.18% per annum. Thus, the trader earns more on the dollar deposit than he/she spends on the CHF interest payments.

All transaction are dated by value date, usually the second day from present. The second day from midnight of Thursday (Wednesday to Thursday night) falls on a weekend, thus charges/credits on 00:00 Thursday are tripled to account for it.

The positive numbers in the table mean credit to the trader's account, negative numbers mean charges against the trader's account.