Fixed or floating rate? What 1.08 million swap quotes show
published 2026-10-13
Choosing the service matters more than choosing the rate type. Between 6 and 13 October 2026 the best offer for the same swap, in the same minute, gave 2.6–3.9% more than the worst one, while a fixed rate cost about 0.5% compared with a floating rate at the same service. These figures come from 1,079,774 quotes we collected every minute from the exchanges we track.
How did we measure it?
Every minute we ask each exchange for a quote on the same amount: 0.1 BTC to XMR, 10 XMR to BTC and 2,000 USDT to XMR. Where a service offers both a fixed and a floating rate, we ask for both. For each minute in which at least five services answered, we compared the amounts they would pay out. Typically 9 services answered at once for the BTC and XMR pairs and 7 for USDT to XMR. The raw data is available on request for checking (data); the live comparison is on the swap page.
How big is the gap between offers?
| Swap | Best vs worst offer (median) | Best vs worst (9 minutes in 10 below) | Best vs a typical offer (median) | Fixed vs floating, same service and minute (median) |
|---|---|---|---|---|
| 0.1 BTC → XMR | 2.64% | 2.99% | 0.69% | fixed pays 0.50% less |
| 10 XMR → BTC | 3.89% | 4.07% | 0.64% | fixed pays 0.50% less |
| 2,000 USDT → XMR | 2.57% | 4.49% | 0.74% | fixed pays 0.50% less |
Period: 6–13 October 2026. «Typical offer» is the median offer in that minute. The fixed-versus-floating column compares the two rates of one service quoted in the same minute, about 8,700 pairs of quotes per swap; in one case in ten the fixed rate cost 0.67–0.72% or more.
What does 2.6% mean in coins?
On 13 October a 0.1 BTC swap paid out about 15.45 XMR at the best service. A 2.64% gap is about 0.4 XMR — the difference between picking the best and the worst offer for the same coins at the same moment. Picking a typical offer instead of the best cost about 0.1 XMR.
What is the difference between a fixed and a floating rate?
A fixed rate locks the amount you will receive when you create the order, as long as your deposit arrives within the time the service allows. A floating rate sets the final amount when your deposit is processed, so it can end up higher or lower than the quote. The services we track charge for the lock: in our data it costs about half a percent.
When is the fixed rate worth it?
When the price moves quickly, when your deposit needs several confirmations before the service acts on it, or when you need an exact amount on the other side — paying an invoice, for example. When none of that applies, a floating rate at a well-priced service usually leaves you with more coins. Check the service’s own terms for what happens if your deposit arrives late or is a different amount: those rules decide whether the lock holds.
A short routine before every swap
- Compare offers at the moment you swap, not hours before — the order of services changes (swap comparison).
- Check whether the quote you are looking at is fixed or floating.
- Read the service’s minimum and maximum, and what it says about identity checks (how to check an exchange).
- Keep the order ID and a screenshot of the quote until the coins arrive (if funds are frozen).
Method and figures: nokycswap.me quote collector, 6–13 October 2026. Quotes are what services offered; the amount you receive also depends on network fees and on when your deposit confirms.