The costs inside a swap
A swap can charge you in several places. Some are shown as a line item and some are built into the rate.
- spread. The gap between the market price and the rate you are given. It is often not labelled as a fee.
- Provider or service fee. A stated percentage or fixed charge.
- Network fees. What the blockchain charges to move your deposit, and to send the output.
- slippage. Movement between the quote and execution.
Why the headline number misleads
A service can advertise a low fee and still give a worse final amount, because the cost sits in the spread. Another can show a higher fee and return more. Only the final received amount for the same input lets you compare fairly.
How to compare
- Use the same input amount and the same pair for every quote.
- Compare the minimum you will receive, not the expected amount.
- Include the network fee you pay to send the deposit.
- Re-check just before sending, since rates move.
Fixed and floating rates
A fixed rate is locked for the quote, so the amount is known up front. A floating rate can change before the swap completes. Fixed rates give certainty; floating rates can come out higher or lower. Which a provider offers varies.
How Sense Swap fits
Sense Swap quotes each enabled provider for your pair and ranks them by what you receive, with the fees and the minimum shown. We do not set the provider's rate, and the quote you see is the number to compare.
Questions
- Which platform has the lowest fees for crypto swaps?
- It changes with the pair, the amount and the market. Compare the final amount you would receive from each provider for the same input, rather than relying on a stated fee.
- What is the spread in a crypto swap?
- The difference between the market price and the rate you are offered. It is a cost even when it is not shown as a fee.
- Do I pay network fees on top of the swap fee?
- Yes. You pay the network fee to send your deposit, and the output transfer also has a network cost, usually included in the quote.