Fixed or floating rate: which one to pick for your crypto swap
One locks in the amount, the other follows the market until your deposit confirms. When each one comes out ahead.
When you start a swap, you choose between two rate types. They look almost the same on screen, but they handle risk very differently.
Floating rate
A floating rate is an estimate. The amount you receive is calculated when your deposit confirms on the blockchain, using the market price at that moment. If the price moves in your favor while you wait, you get more. If it moves against you, you get less.
Floating usually shows the better number, because it does not have to price in the risk of the market moving.
Fixed rate
A fixed rate locks in the amount you see, as long as your deposit arrives within a time window, often 10 to 20 minutes. We take on the market risk, so the rate includes a small premium.
When to choose each one
- Choose floating when the market is calm and the coin you send confirms quickly, like Tron, Solana or Litecoin.
- Choose fixed when the market is moving hard, when you need an exact amount on the other side, or when you value certainty over the last fraction of a percent.
- Be careful with fixed on slow chains. Bitcoin blocks can take a long time when fees spike. If your deposit is not detected within the window, the fixed rate can expire.
How it looks on Swapea
Switch between Floating and Fixed at the top of the swap box. The box then shows the amount that reaches your wallet after all fees, and how far it is from the open market price. You can compare both modes in a few seconds before you decide. Moving $500,000 or more? The private desk can agree a price with you before you send.
Questions
Is a fixed rate always more expensive?
It usually costs a little more, because we take on the price risk for you during the window. In a fast falling market, it can still end up better than floating.
What happens if I send late on a fixed rate?
If your deposit arrives after the window, the swap is recalculated at the current rate or refunded. Send right after you create the swap.
