i want to borrow 10k USD on margin for 1day, how am i going to be charged? i dont really understand http://www.interactivebrokers.com/en/accounts/fees/interest.php?ib_entity=llc#debit
You add the interest shown in the Benchmark chart to the interest shown in the Margin chart. In the Benchmark chart Under USD - Libor you'll see 3.046%. Under the Margin chart (USD) for less than $100K the adder is 1.5%. Add the two together and you've got the daily rate.
Quote from JackR: ...Add the two together and you've got the daily rate. It's the annual rate. Divide by ~365 to get the daily rate.
I noticed my error but Ebo had already posted the actual single day, non-compounded answer. I'm not sure if IB uses 360 or 365/366 as a divisor.