> For the complete documentation index, see [llms.txt](https://bluegamma.io/documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bluegamma.io/documentation/integrations/api/how-to-guides/fetching-a-forward-swap-curve.md).
# Fetching Forward Swap Curves
The `/forward_swap_curve` endpoint returns swap rates for a single tenor across multiple forward start dates in one request. Use this instead of making multiple `/swap_rate` calls when you need to see how a swap rate evolves across different start dates.
***
## When to Use Forward Swap Curves
| Use Case | Why a Forward Swap Curve? |
| ------------------------ | ----------------------------------------------------------------------- |
| **Scenario analysis** | See how the 5Y swap rate changes for swaps starting 3M, 6M, 1Y from now |
| **Pre-hedging strategy** | Compare rates for different hedge start dates to choose optimal timing |
| **Curve visualisation** | Build forward swap rate charts for presentations or dashboards |
| **Batch pricing** | Price multiple forward-starting swaps without hitting rate limits |
{% hint style="info" %}
**vs. `/swap_rate`:** The `/swap_rate` endpoint prices one swap at a time. This endpoint returns an entire curve in a single call, which is faster and avoids rate limits.
{% endhint %}
***
## Basic Example
Get 5Y SOFR swap rates for forward starts every 3 months over the next 2 years:
```python
import requests
url = "https://api.bluegamma.io/v1/forward_swap_curve"
headers = {"x-api-key": "your_api_key"}
params = {
"index": "SOFR",
"tenor": "5Y",
"end_date": "2Y",
"frequency": "3M",
"fixed_leg_frequency": "12M"
}
response = requests.get(url, headers=headers, params=params)
data = response.json()
for point in data["curve"]:
print(f"{point['start_date']} -> {point['maturity_date']}: {point['swap_rate']:.4f}%")
```
```bash
curl -X GET "https://api.bluegamma.io/v1/forward_swap_curve?index=SOFR&tenor=5Y&end_date=2Y&frequency=3M&fixed_leg_frequency=12M" \
-H "x-api-key: your_api_key_here"
```
**Response (April 2026):**
```json
{
"index": "SOFR",
"currency": "USD",
"tenor": "5Y",
"start_date": "2026-04-20",
"end_date": "2028-04-20",
"frequency": "3M",
"fixed_leg_frequency": "12M",
"valuation_time": "2026-04-16T14:17:41.333177",
"timestamp": "2026-04-16T14:16:58",
"curve": [
{"start_date": "2026-04-20", "maturity_date": "2031-04-20", "swap_rate": 3.5876},
{"start_date": "2026-07-31", "maturity_date": "2031-07-31", "swap_rate": 3.5921},
{"start_date": "2026-10-31", "maturity_date": "2031-10-31", "swap_rate": 3.5995},
{"start_date": "2027-01-31", "maturity_date": "2032-01-31", "swap_rate": 3.6106},
{"start_date": "2027-04-30", "maturity_date": "2032-04-30", "swap_rate": 3.6257},
{"start_date": "2027-07-31", "maturity_date": "2032-07-31", "swap_rate": 3.6451},
{"start_date": "2027-10-31", "maturity_date": "2032-10-31", "swap_rate": 3.6705},
{"start_date": "2028-01-31", "maturity_date": "2033-01-31", "swap_rate": 3.7023},
{"start_date": "2028-04-30", "maturity_date": "2033-04-30", "swap_rate": 3.7327}
]
}
```
| Field | Description |
| --------------- | --------------------------------------------------- |
| `curve` | Array of forward-starting swap rate points |
| `start_date` | The forward start date for each swap |
| `maturity_date` | The maturity date (start\_date + tenor) |
| `swap_rate` | The fair fixed rate for the swap as a percentage |
| `tenor` | The swap maturity length applied to each start date |
| `frequency` | The spacing between forward start dates |
The curve shows the 5Y SOFR swap rate rising from 3.59% (spot) to 3.73% for a swap starting in 2 years, reflecting the upward-sloping rate environment.
***
## Visualising the Curve
```python
import requests
import matplotlib.pyplot as plt
from datetime import datetime
url = "https://api.bluegamma.io/v1/forward_swap_curve"
headers = {"x-api-key": "your_api_key"}
data = requests.get(url, headers=headers, params={
"index": "SOFR", "tenor": "5Y", "end_date": "2Y",
"frequency": "3M", "fixed_leg_frequency": "12M"
}).json()
dates = [datetime.strptime(p["start_date"], "%Y-%m-%d") for p in data["curve"]]
rates = [p["swap_rate"] for p in data["curve"]]
plt.figure(figsize=(10, 5))
plt.plot(dates, rates, "o-")
plt.xlabel("Forward Start Date")
plt.ylabel("5Y Swap Rate (%)")
plt.title("5Y SOFR Forward Swap Curve")
plt.grid(True, alpha=0.3)
plt.tight_layout()
plt.show()
```
5Y SOFR forward swap curve - live API data, April 2026