Fixed vs floating rate, which one to choose for a crypto swap
One locks the amount, the other follows the market until your deposit confirms. When each one is the better deal.
When you start a swap you pick between two kinds of rate. 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 at that moment. If the price moves in your favour while you wait, you get more. If it moves against you, you get less.
Floating is usually the better number on screen, because it does not have to price in the risk of the market moving.
Fixed rate
A fixed rate locks the amount you see, as long as your deposit arrives within a time window, often 10 to 20 minutes. We take the market risk, so the rate includes a small premium.
When to choose which
- Choose floating when markets are calm and the coin you send confirms fast, such as 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 want certainty more than 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 seen inside the window, the fixed rate can lapse.
How SwapPrivate shows it
Switch between Floating and Fixed at the top of the swap box. The swap box then shows the amount that lands in your wallet after all fees, and how far it sits from the open market price. You can compare both modes in a few seconds before you decide. Large swaps from $5,000 always use a floating rate, because a person reviews them before the deposit address is created. See large swaps for why.
Quick answers
Is fixed rate always more expensive?
It usually costs a little more, because we carry 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 the deposit arrives after the window, the swap is recalculated at the current rate or refunded. Send right after the swap is created.
Ready to swap? See the live rate. No account needed.
