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Intraday position is a position intended to be opened and closed on the same day, while overnight position is a position to be settled on the next or subsequent trading days.

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Intraday go flat at the end of the day or end of the session, similar to day trading.
Overnight position as the name implied, it carries longer than a day or short term trading.

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Intra means “within” or “inside”. Therefore, intra-day trading means all positions are open within or during the regular 24-hour trading period. On the other hand, overnight positions are those positions that remain open for more than 24 hours. These positions are usually charged with interest because they are being held for more than one day. Also, these kinds of positions have higher risks.

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Intra-day positions refer to positions that are opened and closed in the same trading day.

Overnight positions are positions that remain open for more than 24 hours.