I am not very clear on how short borrow interest fee is calculated. I shorted 3700 NIO shares today and its share closed at $42.8 today. I don't understand why the loan is based on $45 instead of $44. Code: Loan per share = Ceiling (closing price x 102%) = Ceiling (42.8 x 1.02) = 44 != 45
This is what I use to calculate the daily short carry cost. The current NIO fee rate I used is 0.29% for NIO. Column I formula =(G48*102)*F48/360*H48/100
Isn't the short interest rate based on the closing price? There's no intraday interest anyway for shorts.
I will confirm with IBKR if the loan stock price deviates from my understanding for a few more days. I just guess that for some more-volatile stocks, the price factor is above 102%.
There's a lag in borrow fees on the statement. Borrow is on T+0 and stocks are on T+2 so the price used in the calculation lags by two trading days.