diff --git a/YLErpDAL/Modules/SwapModule/Penalty/PenaltyInterestFeeMerger.cs b/YLErpDAL/Modules/SwapModule/Penalty/PenaltyInterestFeeMerger.cs
index 7ca04a77..a6b2256b 100644
--- a/YLErpDAL/Modules/SwapModule/Penalty/PenaltyInterestFeeMerger.cs
+++ b/YLErpDAL/Modules/SwapModule/Penalty/PenaltyInterestFeeMerger.cs
@@ -78,9 +78,13 @@ public static class PenaltyInterestFeeMerger
                 frozenRate = PenaltyLegRateResolver.ResolveFrozenRate(
                     position, getSpread(position), preEod?.FloatRate, unwindDate,
                     d => tryGetFixing(d, position.FloatRateUnderlyingCode));
-                rateSource = preEod != null
-                    ? $"preEod.FloatRate@{preEod.ValueDate:yyyy-MM-dd}"
-                    : "定盘取价(unwindDate-1区间)";
+                // 来源标签须反映实际路径：固定腿不取价（利差即冻结利率）；浮动腿才有快照/取价之分
+                if (string.IsNullOrEmpty(position.FloatRateUnderlyingCode))
+                    rateSource = "固定腿利差(不取价)";
+                else if (preEod != null)
+                    rateSource = $"preEod.FloatRate@{preEod.ValueDate:yyyy-MM-dd}";
+                else
+                    rateSource = "定盘取价(unwindDate-1区间)";
             }
             catch (Exception ex)
             {