# Swap Pricer
The Swap Pricer is for live and forward pricing. If you need a current valuation (MtM) of an existing trade, use the [Swap MtM](/documentation/pricers/calculating-the-mtm-of-a-swap.md) module instead.
***
### 1. Add a Swap
* Go to [**Swap Pricer**](https://app.bluegamma.io/swap-pricer).
* Click the **Add Swap** button (top right).
* The **Swap Details** dialog will open. Fill in:
1. **Swap Name** and **Model Version** for easy tracking.
2. **Index** (e.g. SOFR, SONIA, ESTR). Currency is set automatically from the index you pick, so there is no separate currency field.
3. The remaining swap details (start date, maturity, payment frequency, notional).
* Click the save button to create the swap. You'll be redirected to the swap page.
A live swap rate appears at the top of the page.
***
### 2. Update the Notional Profile
The rate shown by default is a bullet swap: a flat notional profile. To apply a custom profile, open the **Notional Profile** tab on the swap page:
1. Click **Edit Notionals**.
2. Paste or type your notionals directly into the table.
3. Click **Done Editing**. The swap rate recalculates automatically.
To take the cashflow schedule offline, click **Download Pricer** in the top right. The Excel file includes the cashflow schedule, forward rates, discount factors, notional column, and spread fields, and is useful for plugging into a financial model.
***
### 3. Explore the Swap Page Tabs
The swap page is split into tabs so you can drill into the pricing inputs.
* **Notional Profile** the cashflow schedule and editable notionals, plus a chart of the notional over time.
* **Historical Swap Rate** how this swap's rate has moved over time, so you can see where today's level sits in context.
* **Forward Curve** the projected floating rates used to price the swap, with a **Download Curve** button that exports a CSV you can drop into a financial model.
* **Swap Curve** the par swap curve for the selected index across standard tenors (e.g. 1Y, 2Y, 5Y, 10Y).
* **MTM Forecast** projects the mark-to-market of the swap at future dates using current forward rates and market volatility. Switch between **Implied** and **Historical** vol, adjust confidence bands, and look up the expected MtM at any specific date. Useful for stress testing, risk reporting, and scenario planning. See the [Forecast MtM guide](/documentation/pricers/calculating-the-mtm-of-a-swap/forecast-mtm.md) for the full breakdown.
{% hint style="success" %}
**Want to automate this workflow?** Use the BlueGamma API or Excel Add-in to pull forward curves directly into your models.
[See API guide](/documentation/integrations/api/how-to-guides/fetching-a-swap-curve.md) | [See Excel guide](/documentation/integrations/excel-add-in/how-to-guides/how-to-pull-a-forward-curve-directly-into-excel.md)
{% endhint %}
***
### Additional Features
* **Data refresh:** swap data updates every minute.
* **Historical pricing:** use the **Change Time** selector in the top right to price the swap at a specific historical date and time.
* **Copy rate / copy to Excel:** use the icons next to the live rate to copy the value to clipboard or paste it straight into Excel.
* **Value an existing swap (MtM):** click **Value Swap MtM** from the rate card to jump to the [Swap MtM](/documentation/pricers/calculating-the-mtm-of-a-swap.md) module for this swap, where you can upload a notional schedule, apply trade-date rates, and see a current valuation.
* **Edit swap details inline:** click the pencil icons next to Bank, Reference, and Lookback Days to tweak metadata without rebuilding the swap.
* **Manage the swap:** use the toolbar icons in the top right to rename, duplicate, share a read-only link, or delete the swap.
* **Basis point value (PV01):** shown in the details panel, alongside weighted average life and all-in rate, so you can size hedges and check sensitivity at a glance.
***
### Related
* [Calculating the MtM of a Swap](/documentation/pricers/calculating-the-mtm-of-a-swap.md)
* [Pricing a Cap](/documentation/pricers/pricing-a-cap.md)
* [Forecast MtM](/documentation/pricers/calculating-the-mtm-of-a-swap/forecast-mtm.md)
---
# Agent Instructions: Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.
Perform an HTTP GET request on the current page URL with the `ask` query parameter:
```
GET https://bluegamma.io/documentation/pricers/calculating-a-swap-rate.md?ask=
```
The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.
Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.