Guide · May 18, 2026 · 3 min read
Floating rates explained
Anonymous Swap uses floating rates: the displayed exchange rate tracks the market while your order is open. That usually means tighter pricing than locking a fixed quote for a long window.
What “floating” means
A floating rate can move between the moment you create the order and the moment the exchange executes after your deposit confirms. You receive the amount based on the rate available at execution, not a guaranteed locked payout from the first screen.
Practical tips
Create the order when you are ready to send. Deposit promptly with the exact amount shown. Large market moves during slow network confirmations can change the expected XMR (or other) payout.
- Refresh the quote if you waited a long time before creating
- Send exact amounts — partial deposits complicate processing
- Check network congestion before large BTC deposits
Why floating is common for privacy swaps
Fixed-rate inventory is expensive to hedge. Floating rates let non-custodial, no-account flows stay available across many pairs without forcing you through identity onboarding.