Spread Example

CFD example

You have a position of 1 contract on the US Tech 100, with a bid/offer quote at 12475/76.
The spread on this market is therefore 1 point.
To open your position you will pay half this spread and likewise to close it. The total cost of the spread is therefore $1 x 1 = $1

Overnight funding

Every time you hold a trade open overnight, your position will be subject to an interest fee. How the fee is calculated – and whether you pay or receive it – depends on a range of factors. You can take a look at some specifics in the examples below.

How is overnight funding calculated?

Indices

Formula
Relevant interest rate benchmark (eg SONIA for underlyings denominated in sterling) +/- our daily fee (0.01096%)

CFD example

You have a position of one contract on the US Tech 100, currently priced at 12475. Your position’s full exposure is therefore $12,475.
The US Tech 100 underlying market is denominated in USD. Therefore the applicable interest rate benchmark is the secured overnight financing rate (SOFR) – which is currently 4.66448% annually, or 0.01278% daily.
Our daily fee is 0.01096%.
So to hold a long position overnight you would pay 0.02374% – SOFR plus our fee – of your exposure, which is $2.96.
To hold a short position, you would receive 0.00182% – SOFR minus our fee – of your exposure, which is $0.23.

Commodites

Formula
Underlying market adjustment (futures basis) +/- our daily fee (0.01096%)

CFD example

You have a position of 4,000 therms of Natural Gas, currently priced at $2.54. Your position’s full exposure is therefore $10,160.
The overnight basis adjustment for Spot Natural Gas is currently 0.0031. At the prevailing spot price of 2.54 that equates to 0.12205% daily
Our daily fee is 0.01096%.
So to hold a long position overnight you would pay 0.13301% – the basis adjustment plus our fee – of your exposure, which is $13.51.
To hold a short position, you would receive 0.11109% – the basis adjustment minus our fee – of your exposure, which is $11.29.

Forex and Precious Metals

Formula
Underlying market adjustment (TomNext) +/- our daily fee (0.00411%)

CFD example

You have a position of $10,000 on USD/JPY.
The overnight swap (or TomNext) rate for USD/JPY is currently -0.0182. At the prevailing spot price of 132.80 that equates to -0.0137% daily.
Our daily fee is 0.00411%.
So to hold a long position overnight you would receive 0.00959% – the negative USD/JPY swap rate plus our fee – of your exposure, which is $0.96.
To hold a short position, you would pay 0.01781% – the positive swap rate plus our fee – of your exposure, which is $1.78.

Shares

Formula
Relevant interest rate benchmark (eg SONIA for underlyings denominated in sterling) +/- our admin fee (0.01096%)

CFD example

You have a position of 50 shares of Tesla, currently priced at $195. Your position’s exposure is therefore $9,750.
Tesla trades in USD. Therefore the applicable interest rate benchmark is the secured overnight financing rate (SOFR) – which is currently 4.66448% annually, or 0.01278% daily.
Our daily fee is 0.01096%.
So to hold a long position overnight you would pay 0.02374% – SOFR plus our fee – of your exposure, which is $2.31.
To hold a short position, you would receive 0.00182% – SOFR minus our fee – of your exposure, which is $0.18.

Major Cryptocurrencies

Formula
Long positions: pay 0.06164% of exposure
Short positions: receive 0.0137% of exposure

CFD example

You have a position of 0.5 contracts on Bitcoin, currently priced at $23,800. Your position’s exposure is therefore $11,900.
Our daily adjustment is -0.06164% for long positions and 0.0137% for short positions.
So to hold a long position overnight you would pay 0.06164% of your exposure, which is $7.34.
To hold a short position you would receive 0.0137% of your exposure, which is $1.63.

Altcoins

Formula
Long positions: pay 0.07534% of exposure
Short positions: receive 0.00685% of exposure

CFD example

You have a position of 25,000 contracts on Ripple, currently priced at $0.38. Your position’s exposure is therefore $9,500.
Our daily adjustment is -0.07534% for long positions and 0.00685% for short positions.
So to hold a long position overnight you would pay 0.07524% of your exposure, which is $7.16.
To hold a short position you would receive 0.00685% of your exposure, which is $0.65

Why am I charged overnight funding?

When you trade using spread betting or CFDs, you’re trading on margin. This means that you only put up a fraction of your trade’s real value, and effectively borrow the rest from us. We get charged interest on that amount, and our overnight funding charge is our way of recouping that interest.

Guaranteed stop premiums?

When you choose to protect your position against slippage with a guaranteed stop, you’ll pay a small premium if the stop is triggered. Take a look at the premiums for some of our most popular markets.

Guaranteed stop premiums?

When you choose to protect your position against slippage with a guaranteed stop, you’ll pay a small premium if the stop is triggered. Take a look at the premiums for some of our most popular markets.

FX
EUR/USD	0.01% (if triggered)
GBP/USD	0.01% (if triggered)
USD/JPY	0.01% (if triggered)
AUD/USD	0.01% (if triggered)

Indices
US Tech 100	0.02% (if triggered)
US Wall St 30	0.02 (if triggered)
Germany 40	0.02% (if triggered)
USD 500	0.02% (if triggered)

Commodities
Crude Oil	0.03% (if triggered)
Natural Gas	0.25% (if triggered)
Brent Oil	0.03% (if triggered)
Gold	0.03% (if triggered)

Shares
Tesla	0.5% (if triggered)
Apple	0.5% (if triggered)
Amazon	0.5% (if triggered)
Meta	0.5% (if triggered)

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