Swap (rollover)
Interest paid or earned for holding a position overnight. It reflects the interest-rate gap between the two currencies.
Swaps are usually tripled on Wednesday night to cover the weekend.
In practice
Holding a long position in a high-interest currency against a low-interest one usually earns a small daily swap, while the opposite trade pays it. Swaps are typically charged three times on Wednesday night to cover the weekend.
Forgetting about swap on multi-week trades, where the cost can add up to a meaningful share of the profit.
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