When carry is positive, how do you judge whether the swap income still covers the spread and slippage cost?

Carry trades look attractive on paper because the rate differential pays you every day you hold the position. The part that gets underweighted is the real round-trip cost, which is the spread on entry and exit plus any slippage, and the swap or rollover charge your broker actually applies, which is often a bit different from the headline differential once the broker's markup is included. For a pair with a wide rate gap, the daily carry can be meaningful, but it is also exposed to the rate path changing while you hold the position. A central bank that pivots can erase several weeks of accrued carry in a single session. Session timing matters too, since rollover happens at the broker's cutoff and liquidity thins around it, which can widen spreads for a few minutes. I'm curious how others here model this. Do you run a break-even holding period against the total round-trip cost, or do you track the swap as a running adjustment to your position P&L, and which session do you usually enter in when carry is the main reason for the trade?