FX Forward All-In Calculator

What this tool does

It computes your all-in forward rate and implied carry for an FX forward trade. Enter notional, spot, forward rate or points, tenor, side (buy/sell base), plus your spread (pips) and fees (bps). You get the tradable rate you're effectively locking and a quick read on the carry.

Key concepts

• Forward points convert to price: points × 10⁻⁴.
• Spread: market bid/ask around the mid; the side you trade determines which half you pay.
• Fees (bps): basis-point markup over the trade; often invisible unless you ask.
• Carry: (forward/spot − 1) annualized. Rough proxy for interest rate differential.

How the tool treats it

• Build the forward rate from mid (spot + points) if you didn't enter it directly.
• Spread-adjust (half-spread to your disadvantage based on buy/sell).
• Apply fees.
• Compute carry: (allIn/spot − 1) × 365/tenorDays.

Use cases

• Check if a quoted forward is fair vs mid + your known cost.
• Compare tenors to decide between shorter rolls or a single longer hedge.
• Gauge whether carry is materially helping or hurting you.

Caveats

• No credit charges, margin, options, or CSA effects.
• No holiday calendars or exact day-count.
• Treat as indicative; your dealer's fills rule the day.

Pro tips

• Store your historical spread/fees; push pricing toward the best quartile.
• Look at cash-flow matching before stretching tenor for carry alone.
• If you're marking to market, simulate the P&L path as well as the all-in.