what is overnight funding?

When you hold the position of a product overnight, your A/C may be charged / deposited into the product's corresponding overnight interest.

That is because when you trade a currency pair, the two currencies involved have overnight funding. For the currency you buy, you may receive interest, and for the currency you sell, you need to pay interest. The difference of interest on the currency pair will determine whether you will be charged or receive overnight interest corresponding to the product.

Formula for calculating the daily overnight funding of the daily position
= trading lot * contract size * settlement price * daily overnight funding rate (%)

Any client may be charged/deposited overnight funding corresponding to the product for holding a currency pair position through the settlement time at top1 each day. Generally, overnight funding applies if you hold a position until this time. Please note that the time zone varies depending on your settings.