Crypto Swap Quotes Can Differ by as Much as 4.9%: Monivo Analysis Reveals

Crypto swap quotes may vary more than users think when they compare rates between providers.

A recent analysis by Monivo, a non-custodial crypto swap aggregator, revealed that even when the trading pair, send amount, rate type, and observation moment are identical, different providers can offer vastly different payouts.

The study used Monivo's Crypto Swap Rate Index to compare live provider quotes for the same trade. The index combines two sources of live quotes: a scheduled panel that requests quotes every 10 minutes, and real comparison requests made by Monivo visitors.

The analysis showed that across 17 trading pairs, the median best-to-worst difference in swap spreads was 2.55%, with some pairs showing wider differences. For example, XMR to BTC had a median spread of 3.65% and a widest observed gap of 4.90%.