SOFR today
The Secured Overnight Financing Rate was 3.87% for October 8, 2026, on $2,963 billion of overnight Treasury repo. Below: the averages, the index, the neighboring benchmarks and the history behind the print.
Every figure above comes from the Federal Reserve Bank of New York, which publishes SOFR at about 8:00 a.m. ET each business day for the previous business day's trades. The averages and the index are dated the day they are published, which is the business day after the last SOFR value date they include, so after a Friday print they carry Monday's date. The percentile rank of today's SOFR across every print since April 2, 2018 is 65 out of 100; the section below explains what that number does and does not tell you.
SOFR, daily rate (%)
One year of daily SOFR prints. Source: Federal Reserve Bank of New York.
The last ten prints
Each row is one effective date: the published rate, its change from the prior business day, four points of the volume-weighted distribution and the dollar volume of trades that went into the calculation. The SOFR history lookup returns the same columns for any date range, with a CSV export.
| Effective date | SOFR | Change (bp) | 1st pct | 25th pct | 75th pct | 99th pct | Volume ($bn) |
|---|---|---|---|---|---|---|---|
| Oct 8, 2026 | 3.87% | -1 | 3.83% | 3.85% | 3.91% | 3.95% | 2,963 |
| Oct 7, 2026 | 3.88% | -2 | 3.81% | 3.86% | 3.92% | 3.96% | 2,968 |
| Oct 6, 2026 | 3.90% | +1 | 3.84% | 3.88% | 3.95% | 3.98% | 2,997 |
| Oct 5, 2026 | 3.89% | +1 | 3.84% | 3.87% | 3.94% | 3.97% | 3,007 |
| Oct 2, 2026 | 3.88% | +1 | 3.83% | 3.86% | 3.93% | 3.96% | 3,013 |
| Oct 1, 2026 | 3.87% | -3 | 3.83% | 3.84% | 3.92% | 3.97% | 3,067 |
| Sep 30, 2026 | 3.90% | +2 | 3.83% | 3.88% | 3.96% | 3.99% | 3,230 |
| Sep 29, 2026 | 3.88% | -2 | 3.81% | 3.86% | 3.93% | 3.97% | 2,967 |
| Sep 28, 2026 | 3.90% | 0 | 3.83% | 3.89% | 3.95% | 3.98% | 2,964 |
| Sep 25, 2026 | 3.90% | +2 | 3.83% | 3.89% | 3.95% | 3.99% | 2,914 |
Reading today's print
SOFR is not an average. The New York Fed sorts the day's eligible repo trades by rate, cumulates their dollar volume and publishes the rate at the 50th percentile of that volume, rounded to the nearest basis point. That is why it moves in whole basis points and why a handful of unusually cheap or expensive trades cannot drag it far. The method, including the trim that removes the lowest-rate 20% of bilateral cleared volume, is set out in how SOFR is calculated.
The percentiles show how tight the market was
Alongside the median, the New York Fed publishes the 1st, 25th, 75th and 99th volume-weighted percentile rates. The gap between the 25th and 75th tells you where the bulk of the money changed hands; the 1st-to-99th gap shows the tails. On October 8, 2026 the middle half of volume traded between 3.85% and 3.91%, a 6 bp band, and the full 1st–99th range was 12 bp. Across 2026 the median day had a 1st–99th range of 13 bp and an interquartile range of 8 bp, so that print was an ordinary one. When a month-end or quarter-end moves the rate, the whole distribution tends to move with it, the median included: on December 31, 2025 SOFR rose 16 bp and the 99th percentile 17 bp, and on October 31, 2025 the median rose 18 bp while the 99th percentile rose 8 bp. The month-end and quarter-end guide walks through those dates.
Volume tells you how much the median stands on
The volume figure is the dollar amount of transactions behind the rate, rounded to the nearest $1 billion. Average daily volume was $805.6 billion over 2018's partial year and $3,099.6 billion so far in 2026. The record in this dataset is $3,508 billion, on January 2, 2026. Daily distributions and volume for every date are charted on SOFR percentiles and volume.
What the percentile rank means
The rank of 65 above is a different kind of percentile. It is our own calculation: the share of all published SOFR observations since April 2, 2018 that were at or below the latest rate. A reading of 65 means that roughly 65% of business days in SOFR's history printed at the current level or lower. It says where today sits in the long-run record, which spans an all-time low of 0.01% (first reached on March 24, 2020) and a high of 5.40% (first reached on December 28, 2023). It does not describe the distribution of trades on a single day, and it is not a forecast.
The New York Fed may revise a day's SOFR at about 2:30 p.m. ET on the day of first publication, and only when the change would exceed one basis point. Any revision is marked with a footnote, and a contract that fixes off the morning print should say which publication it uses.
Where SOFR sits against the Fed's range
The federal funds target range reported alongside EFFR is 3.75%–4.00%. The current range first appears in the data on September 17, 2026, when it moved up 25 bp from 3.50%–3.75%. SOFR went from 3.62% on September 16 to 3.85% on September 17, a 23 bp step, and has printed between 3.85% and 3.90% on every day since. Over the full history SOFR fixed inside the target range on 2,051 of 2,129 business days, above the top of the range on 62 (mostly in 2018, 2019 and 2025) and below the bottom on 16, all in 2022. The target range history lists every move.
Why the averages lag the overnight rate
The 30-day average published on October 9, 2026 was 3.81569%, below the 3.87% overnight print. Its window started on September 9, so the first eight calendar days still carried pre-move SOFR near 3.62%. The 90- and 180-day averages lag further for the same reason. Contracts that reference an average, rather than compounding SOFR themselves, will reprice to the new level gradually; SOFR Averages vs SOFR Index covers when each is the right input.
Calculators
Each calculator reads the same dated New York Fed snapshot as this page, runs in your browser and shows its working. Start with the compounding tools if you are checking an interest period; start with the loan and rate-shock tools if you are budgeting.
- InterestSOFR interest calculatorInterest on a principal at SOFR plus a spread for any period and day-count basis.
- CompoundingCompounded SOFR calculatorCompound daily SOFR in arrears with lookback, observation shift or lockout conventions.
- CompoundingSOFR Index calculatorCompounded SOFR between any two dates from the New York Fed's published SOFR Index.
- LendingFloating-rate loan calculatorPayment schedule for a loan priced at SOFR plus a margin, with floors and rate paths.
- RiskRate shock calculatorWhat a 25, 50 or 100 bp move in SOFR does to annual interest on floating-rate debt.
- ConversionBasis point calculatorConvert basis points, percentages and dollar interest over any balance and period.
- Legacy contractsLIBOR fallback calculatorRebuild a legacy USD LIBOR rate as compounded SOFR plus the fixed ISDA spread adjustment.
- ConventionsDay count calculatorAccrual days and year fractions under ACT/360, ACT/365F, 30/360, 30E/360 and ACT/ACT.
- DataSOFR history lookupPull SOFR for any date range with statistics, a chart and CSV export.
- SpreadsSOFR spread trackerChart the spread between SOFR and EFFR, TGCR or BGCR over any period.
Guides
Short, specific explanations written for people who have to apply SOFR in a document or a system: what the rate measures, how conventions change the number you get, and what happened to LIBOR contracts.
- BasicsWhat is SOFR?What the Secured Overnight Financing Rate measures, who publishes it and where it is used.
- MethodHow SOFR is calculatedThe repo transactions behind SOFR, the volume-weighted median and the data trims.
- Rate choiceTerm SOFR vs overnight SOFRForward-looking Term SOFR, backward-looking averages and overnight SOFR compared.
- Rate choiceSOFR Averages vs SOFR IndexWhen to use a published average and when to compute from the index.
- ConventionsCompounding in arrears conventionsLookback, observation shift, lockout and payment delay explained with worked numbers.
- LendingFloating-rate loans on SOFRMargins, floors, reset dates and how a SOFR loan's interest is actually computed.
- MarketsSecured vs unsecured ratesWhy SOFR and the effective federal funds rate differ, and what the gap tells you.
- MarketsSOFR spikes and month-endSeptember 2019, March 2020 and the recurring month-end and quarter-end moves in SOFR.
- TransitionThe LIBOR to SOFR transitionHow U.S. dollar LIBOR ended and what replaced it, with the key dates.
- TransitionCredit spread adjustmentWhy legacy LIBOR contracts add a spread to SOFR, and how the ISDA values were fixed.
- ReferenceSOFR glossaryPlain definitions of the terms used in SOFR, repo and benchmark-rate documents.
Data pages
The reference tables behind this page, each rendered as plain HTML so they can be read, printed or cited without running a script.
- Since 2018SOFR historyEvery SOFR observation since April 2018, summarized by year with links to daily tables.
- CompoundedSOFR Averages & IndexThe 30-, 90- and 180-day SOFR Averages and the SOFR Index, with history and how to use them.
- BenchmarksSOFR vs TGCR, BGCR, EFFRSide-by-side overnight benchmarks and the spreads between secured and unsecured funding.
- PolicyFed target range historyEvery federal funds target range since 2018 and where SOFR traded inside or outside it.
- DistributionSOFR percentiles & volumeDaily transaction volume and the 1st–99th percentile distribution behind each SOFR print.
Daily tables by calendar year: 2018 · 2019 · 2020 · 2021 · 2022 · 2023 · 2024 · 2025 · 2026.
Where the numbers come from
SOFR, TGCR, BGCR, EFFR, the SOFR Averages and the SOFR Index are taken from the New York Fed's public reference-rate data and stored here as a dated snapshot; this page shows the snapshot through October 8, 2026. Percentile ranks, yearly statistics, spreads and every chart are our own calculations from that data and are not New York Fed figures. We do not display CME Term SOFR, which is a licensed CME Group benchmark. The New York Fed reference-rate data on this page are subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the New York Fed reference-rate data on this page by Right Angles Technologies Inc (BitsSecurity), does not sanction or endorse any particular republication, and has no liability for your use. BitsSecurity (Right Angles Technologies Inc) is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by BitsSecurity. Field-by-field sourcing and formulas are on sources and methodology.