Fed Funds Forward Curve: Today’s Market-Implied Path
The 3M compounded Fed Funds forward curve, bootstrapped from live USD swap quotes and refreshed through the trading day. Chart it, read the year-by-year forecast, or take the whole grid to Excel.
Last update:
Fed Funds forward curve · year-end forwards
| Date | Forward Rate |
|---|---|
| 31 Dec 2026 | 4.16% |
| 31 Dec 2027 | 4.12% |
| 31 Dec 2028 | 4.02% |
| 31 Dec 2029 | 4.01% |
| 31 Dec 2030 | |
| 31 Dec 2031 | |
Curves bootstrapped from live interdealer swap quotes. Read how we build these curves.
Unlock the full curve
Get the complete Fed Funds forward curve in Excel
- Every forward, out to the longest quoted tenor
- One-click download to Excel
- Excel Add-in & API access
- Curves for 30+ currencies, refreshed all day
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“We stopped chasing the bank for a mid. BlueGamma is our curve of record now.”
The Fed Funds forward curve in Excel & API
If you’re copying this curve into a model more than once a month, you don’t need a download, you need a feed. One function per forward period, always current, straight into your model.
// Excel: any Fed Funds forward period in a cell =BlueGamma.FORWARD_RATE("Fed Funds", start_date, end_date) # API: the same rate, one GET away GET api.bluegamma.io/v1/forward_rate ?index=Fed Funds&start_date=2027-06-30&end_date=3M x-api-key: your_api_key
The curve prices your float. The desk quotes a par rate.
When you fix, the bank quotes one number for the whole term. Check it against an independent Fed Funds mid before you sign: the difference is their margin.
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FAQs
Quotes stream straight from tier-one inter-dealer brokers and exchanges. We sanity-check every feed before building the curve.
Yes. Pick any valuation date (and even time) and download the historical curve to Excel.
Curves update intraday from live swap quotes; the Excel download is built on the very latest ticks the moment you hit Download.
SOFR, SONIA, EURIBOR, CORRA, BBSY, STIBOR, NIBOR, JIBAR and 30-plus others — all forward curves and discount factors.
Yes. Pull curves via a REST API or use the Excel function =BLUEGAMMA(). Same numbers everywhere, no manual uploads.
Absolutely. Load any swap (fixed-for-floating, amortising or bullet), drop in the notional schedule and get a mark-to-market in minutes — or roll the clock back for historic pricing.
Most free forward curves are published once a month as a static chart. BlueGamma rebuilds the Fed Funds curve from live swap quotes throughout the trading day, shows the dated values rather than a picture, and lets you download the full grid to Excel during a free trial.
More on Fed Funds rates
Fed Funds Swap Rates
Today's USD Fed Funds swap rates across the tenor grid, with history.
Forward curve basics
How forward curves are built, read and used in models.
Pull a curve into Excel
How to pull a forward curve directly into a spreadsheet, step by step.
More from BlueGamma
Or browse the full forward curve catalogue, covering every curve we publish.