How are the rollover fees on Oil and Natural Gas calculated?

As of 22 February 2019, the rollover (overnight) fees on new and open spot energy (Oil and Natural Gas) positions are as follows*:

For BUY (long) positions:
- {[(2.5% * Price) / 365] + [1/NumDays * (Next – Front)]} * Units

For SELL (short) positions:
- {[(2.5% * Price) / 365] – [1/NumDays * (Next – Front)]} * Units


  • The annual markup is divided by 365 to reflect the daily markup
  • NumDays: The number of days between the expiration dates of the current (front) and the next contract
  • Next: Oil price on next contract
  • Front: Oil price on current (front) contract
  • Units: The number of units within the position


*The explanation above corresponds to an upward sloping futures curve. On a downward sloping curve, fees for BUY and SELL are reversed.

For a more detailed explanation of how fees are calculated on eToro, please refer to this blog post. Our full list of fees can be found on our website.