Slippage & Rate Behavior

How rate movement between quote and settlement affects each order type

The amount you receive always follows the rules of the order type you selected at the time of the swap.

The amount received always follows the rules of the selected order type.

Rate behavior by order type

Order type	Rate behavior	Slippage exposure
Float	Live market rate at time of execution	Minor movement between quote and settlement is possible
Fixed	Rate locked at order creation	None: the locked output is guaranteed regardless of market movement
Private	Privacy-enhanced routing via additional steps	Prioritizes discretion over price tightness; some rate variance is expected

Float orders offer the lowest fees and fastest execution, but the final output may differ slightly from the initial quote if the market moves between the moment you receive the quote and the moment the trade settles. Fixed-rate orders eliminate this uncertainty entirely by guaranteeing the exact output shown upfront. Private Mode accepts some rate variance as the cost of additional execution privacy.