> For the complete documentation index, see [llms.txt](https://docs.husher.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.husher.io/documentation/how-husher-works/how-it-works/order-types-and-execution-logic.md).

# Order Types and Execution Logic

Float, Fixed, and Private modes on one non-custodial architecture

Husher supports multiple execution modes to match different priorities such as speed, price certainty, and discretion. Each mode runs on the same non-custodial architecture, while applying its own confirmation rules, execution timing, fee structure, and routing logic.

### Compare the three modes

| Mode                | Speed                             | Rate and output                         | Fee                      | Best when                         |
| ------------------- | --------------------------------- | --------------------------------------- | ------------------------ | --------------------------------- |
| **Float** (default) | Fastest                           | Market rate, output may vary slightly   | About 0.1% to 0.4% total | Speed and flexibility matter most |
| **Fixed**           | Similar once the deposit confirms | Rate locked, exact output guaranteed    | 0.8%                     | Output certainty matters most     |
| **Private**         | Typically 5 minutes or more       | Privacy-enhanced routing via ZEC or XMR | 1% plus network fees     | Discretion matters most           |

{% hint style="info" %}
Execution mode and routing are independent. The **mode** determines *how* a trade behaves (timing, guarantees, privacy). **Routing** determines *where* it executes (which provider and exchange).
{% endhint %}

### Shared execution guarantees

All execution modes follow the same core guarantees:

* Funds are sent directly from your wallet to a one-time execution address controlled by the selected Exchange Service Provider (ESP)
* Husher never takes custody of user assets
* Trades are executed by third-party providers against centralized-exchange spot liquidity
* Output assets are delivered directly to your destination wallet or wallets

### How routing works

By default, Husher uses smart routing to select the optimal execution path across multiple providers and exchanges, based on price, liquidity, and execution reliability. Routing is automatic and requires no configuration.

{% tabs %}
{% tab title="Default (smart routing)" %}
Husher compares providers and liquidity in real time and chooses the best available path for price, speed, and reliability. This is the recommended setting for most swaps.
{% endtab %}

{% tab title="Manual provider" %}
Advanced users may select a specific execution provider, in which case routing is restricted to that provider. Manual selection changes where the trade executes, but not custody, confirmation requirements, or delivery guarantees.
{% endtab %}
{% endtabs %}

### Choose a mode

Pick the execution mode that best matches your needs at the time of the swap.

<table data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><strong>Float Rate Orders</strong></td><td>Fastest, market-based execution with flexible deposits.</td><td><a href="/documentation/how-husher-works/how-it-works/order-types-and-execution-logic/1.-float-rate-orders-default.md">Float Rate Orders (default)</a></td></tr><tr><td><strong>Fixed Rate Orders</strong></td><td>Guaranteed output with a locked rate and strict timing rules.</td><td><a href="/documentation/how-husher-works/how-it-works/order-types-and-execution-logic/2.-fixed-rate-orders-guaranteed-output.md">Fixed Rate Orders (guaranteed output)</a></td></tr><tr><td><strong>Private Orders</strong></td><td>Privacy-enhanced execution using additional routing steps.</td><td><a href="/documentation/how-husher-works/how-it-works/order-types-and-execution-logic/3.-private-orders-privacy-enhanced-execution.md">Private Orders (privacy-enhanced execution)</a></td></tr><tr><td><strong>Execution Routing</strong></td><td>How default routing works and when to override it.</td><td><a href="/documentation/how-husher-works/how-it-works/order-types-and-execution-logic/execution-routing-default-and-optional-override.md">Execution Routing (default and optional override)</a></td></tr></tbody></table>