One Swap vs Multiple Swaps: Which Approach Saves More?

For most swaps, doing everything at once is the better deal. You pay one network fee and get one final price without waiting to see where the market goes next.

This approach simplifies the process and keeps costs down, especially when trading widely used tokens like ETH and USDC. However, splitting a swap into several smaller transactions can be beneficial in certain situations.

Splitting is more appealing when the swap is large enough to noticeably push the price, particularly with thinly traded tokens. Sending five smaller transactions one after another through the same pool can leave you with almost the same overall price impact, plus five separate network fees.

The key factor is the size of the order and how it affects the liquidity pool or exchange. Small orders usually have little effect, while large orders can receive a worse rate as they use more available liquidity, known as price impact.

Uniswap explains that larger trades relative to a pool's reserves move the price further. The trading pair also plays a significant role in the process, with ETH and USDC sharing many liquid pools, while Monero and Solana operate on separate blockchains.