Monivo Crypto Swap Rate Index
How far apart are providers on the same swap? The Rate Index measures the gap between the best and the worst payout recorded for the identical pair, send amount and rate type inside one quote set, using quotes served through Monivo's comparison engine. Stored timestamps are recording times, not verified quote ages.
Provider quotes recorded
What the current sample shows
Every sentence below is generated from the observations in the selected window — nothing is written by hand or carried over.
- Across 37.587 comparable quote sets covering 99 pairs, the median gap between the best and the worst recorded payout was 2,29 %. On a 1,000 USD-equivalent swap, that is roughly 22,88 $ of difference for the same trade in the same quote set.
- XMR → BTC was the widest of the frequently sampled pairs, with a median gap of 3,91 % and a single set as wide as 6,68 %.
- ETH → BTC was the tightest, at a median gap of 1,68 % — large-cap pairs with deep liquidity leave providers far less room to differ.
- The mean gap (2,44 %) tracks the median (2,29 %) closely, so the sample is not being pulled by a handful of outliers.
Pairs with the widest quote spread
Median spread between the best and worst provider quote in a single comparable set, by pair.
| Pair | Comparable sets | Median spread | Widest observed |
|---|---|---|---|
| BTC → ETH | 4.135 | 2,01 % | 33,33 % |
| BTC → XMR | 3.143 | 2,34 % | 9,69 % |
| USDT → XMR | 3.017 | 2,81 % | 104,28 % |
| XMR → USDT | 3.014 | 2,25 % | 9,24 % |
| USDC → XMR | 3.005 | 2,30 % | 8,38 % |
| XMR → USDC | 2.999 | 2,74 % | 47,83 % |
| BTC → USDT | 2.999 | 2,45 % | 4,14 % |
| XMR → BTC | 2.996 | 3,91 % | 6,68 % |
| ETH → BTC | 2.983 | 1,68 % | 4,37 % |
| USDT → BTC | 2.982 | 1,74 % | 4,29 % |
Limited to the ten pairs with the most comparable quote sets in this window; the totals above cover the full sample.
How often each provider offered the top quote
Counted only across quote sets where that provider actually answered alongside at least one other.
Not published for this window: the providers observed were not quoted across a comparable number of sets, so a ranking would reflect sampling rather than pricing.
Methodology
What is recorded
One observation is one provider's recorded answer — a positive receive amount — for one pair, one send amount and one rate type. Providers that were still working, errored, or could not route the trade are not recorded at all, so an unavailable provider never counts as an expensive one. The stored row carries no network identity, no source label and no provider response time.
Sampling
Two sources, both live. A scheduled panel quotes a fixed basket of pairs at fixed send amounts every ten minutes, so coverage is designed rather than traffic-shaped; alongside it, real visitor comparisons are captured once every provider that can route the pair has answered. Each pair/amount/rate-type target is stored at most once per ten minutes, so neither a busy page nor a refreshing visitor can weight the sample.
Which assets are measured
This is provider quote dispersion within a fixed 16-asset benchmark basket: BTC, ETH, XMR, SOL, XRP, LTC, BNB, TRX, DOGE, ADA, AVAX, DOT, LINK, BCH, USDT and USDC. Both assets in a pair must be on that list, otherwise the quote set is not counted. Which pairs and which providers actually appear is decided by the eligible observations recorded in the window, not by the basket alone. Membership does not by itself establish that two quotes are comparable on network, send amount or quote age, and quotes are not completed trades. Reports measured under different basket revisions are not automatically comparable with each other.
The comparison window
A quote set is one sweep: every connected provider that can route the pair is asked for the same pair, amount and rate type, and the answers are stored together. Spread is only ever computed inside such a set. The stored timestamp is when the answer was recorded rather than a verified quote age, so a set is a recorded quote set rather than a proven same-instant snapshot.
How amounts are treated
Each quote is normalised to receive-per-unit-sent before comparison, and the spread is (best − worst) ÷ worst, in basis points. Because providers price their margin into the payout rather than charging separately, this figure already includes provider spread and any network cost the provider deducts.
Malformed quotes
A quote whose payout is more than three times away from the rest of its own set is a malformed answer, not a competitive one — a wrong unit or a decimal slip upstream. Those are excluded and counted, so a published spread is not dominated by data errors. A genuinely poor but plausible quote is kept.
Provider inclusion
Only providers connected to Monivo's live comparison are represented, and only on pairs they support. A set needs at least two answering providers to contribute a spread. The 'top quote' table is published only when every listed provider answered in a comparable share of sets.
Limitations
This is a sample of quotes returned to Monivo — the scheduled panel plus visitor requests — not a census of the market. It excludes venues Monivo is not connected to. Observations carry no network identity, no source label and no provider response time, so these are recorded quote-set statistics rather than verified like-for-like cross-chain comparisons, and quoted amounts are not executed amounts: a quote can expire or be re-priced at order creation.
Reproducibility
Every figure on this page is a direct function of the stored observations for the selected window. No value is smoothed, projected or carried over from a previous window.
Monivo does not add a separate fee to the provider quote. Monivo may earn a commission from the liquidity provider when a swap is completed. Network costs and provider spreads are reflected in the quote where applicable.
Monivo does not require a Monivo account to compare or start a standard crypto-to-crypto swap. Individual liquidity providers may still apply AML, sanctions, fraud-prevention or identity checks in certain circumstances, depending on the provider, the transaction and your jurisdiction.
The sampling panel
Every ten minutes, each of these pairs is quoted at three fixed send amounts and every connected provider that can route it is asked for an answer. The Monero legs are included because payouts diverge most where there is no unified order book; the major pairs are the control group.
- USDT → XMR
- XMR → USDT
- USDC → XMR
- XMR → USDC
- BTC → XMR
- XMR → BTC
- BTC → USDT
- USDT → BTC
- ETH → USDT
- USDT → ETH
- BTC → ETH
- ETH → BTC
Panel sweeps and visitor comparisons are stored identically and are not distinguished in the statistics above — the stored rows carry no source label, and their timestamps are recording times rather than verified quote ages.
Monthly reports
Each completed month is archived at a fixed URL, so a figure you cite stays exactly as published. The page above always shows the most recent 7 or 30 days instead.
Beyond the index
Two extras: a spread calculator and the latest raw snapshots
The index above is the published measurement. These two panels are supporting material: a tool that turns the measured gap into dollars, and the most recent individual quote sets behind the numbers.
What the measured spread would be worth
Pick a pair and a swap size. We apply the dispersion this index measured between the best and the worst comparable quote on that pair — the typical set and the widest set — as a hypothetical illustration. It is not the cost of an executed trade and not a guaranteed saving. Nothing leaves your browser.
Based on 3 comparable quote sets for ADA → BTC: median gap 2.97%, widest gap recorded 3.34%.
Hypothetical illustration only: your swap size multiplied by the dispersion measured between providers. It is not the cost of an executed trade, not a quote, and not a guaranteed saving; the yearly figure is simply the monthly illustration multiplied by twelve.
Latest snapshot on each sampled pair
One row per pair, showing the most recent set in which every provider that could route it was asked. Best and worst are the payouts recorded at that timestamp — not live prices right now.
| Pair | Sent | Best payout | Worst payout | Gap | Won by | Observed (UTC) |
|---|---|---|---|---|---|---|
| BNB → USDT | 0,75 BNB | 543,226 USDT | 265,922 USDT | 104,28 % | FixedFloat | 17. Sept. 2026, 19:17 UTC |
| ETH → XMR | 0,035 ETH | 0,16635025 XMR | 0,1528693 XMR | 8,82 % | Changelly | 17. Sept. 2026, 20:11 UTC |
| USDT → SOL | 10 USDT | 0,10116 SOL | 0,0941702 SOL | 7,42 % | FixedFloat | 16. Sept. 2026, 22:32 UTC |
| BTC → DOGE | 0,005 BTC | 4.644,97 DOGE | 4.402,03 DOGE | 5,52 % | Changelly | 18. Sept. 2026, 01:30 UTC |
| DOT → BTC | 50 DOT | 0,00064192 BTC | 0,00060878 BTC | 5,44 % | Changelly | 16. Sept. 2026, 19:19 UTC |
| SOL → XMR | 2 SOL | 0,39478357 XMR | 0,3744107 XMR | 5,44 % | Changelly | 16. Sept. 2026, 18:46 UTC |
| DOGE → LTC | 1.000 DOGE | 1,5763 LTC | 1,4992 LTC | 5,14 % | Lizex | 16. Sept. 2026, 19:59 UTC |
| ETH → DOGE | 0,15 ETH | 4.471,6 DOGE | 4.257,35 DOGE | 5,03 % | Changelly | 16. Sept. 2026, 19:59 UTC |
| LTC → XMR | 4 LTC | 0,40924233 XMR | 0,3898965 XMR | 4,96 % | Changelly | 16. Sept. 2026, 18:59 UTC |
| USDT → DOGE | 500 USDT | 6.181,66 DOGE | 5.895,57 DOGE | 4,85 % | Lizex | 16. Sept. 2026, 20:03 UTC |
| XMR → SOL | 1,5 XMR | 7,6071 SOL | 7,2606 SOL | 4,77 % | Changelly | 16. Sept. 2026, 19:24 UTC |
| BTC → AVAX | 0,005 BTC | 51,6966 AVAX | 49,4741 AVAX | 4,49 % | Changelly | 16. Sept. 2026, 19:25 UTC |
Using this data
Journalists and researchers are welcome to cite the index. Please state the observation window and the date you retrieved the figures, since the sample changes as new observations arrive.
Press and data kitRelated pages
- How crypto exchange rates workThe explainer behind this data: what a swap rate is made of and why providers differ.
- Compare crypto swap ratesRun the same comparison the index is built from, on your own pair.
- Monero exchange hubXMR routes, where the spread tends to be widest.
- Account-free exchangesHow wallet-to-wallet venues differ on access and compliance.
- Supported assetsEvery asset and network available to the providers we quote.
About the Rate Index
What does the Rate Index actually measure?
It measures the gap between the best and the worst payout recorded for the same pair, the same send amount and the same rate type inside one quote set. Only answers with a positive receive amount are counted, and the stored timestamp is when the answer was recorded rather than a verified quote age.
Where does the data come from?
From live provider quotes: a scheduled panel that asks every connected provider for a real quote on a fixed basket of pairs and send amounts, plus real comparison requests made by visitors. Nothing is modelled, estimated or back-filled, and no figure is published for a window that has no comparable quote sets.
How often is the index updated?
Continuously. The scheduled panel runs every ten minutes, visitor comparisons are stored as they happen, and the page recomputes the 7, 30 and 90 day windows from the stored observations on every visit.
Why is a provider ranking sometimes missing?
If the observed providers were not quoted across a comparable number of sets, a ranking would reflect sampling rather than pricing, so it is withheld for that window.
Can I cite the Rate Index?
Yes. Journalists and researchers are welcome to cite it; please state the observation window and the date you retrieved the figures, because the sample grows as new observations arrive.
Does a wide spread mean a provider is overcharging?
Not necessarily. Spreads widen with network fees, liquidity depth and asset volatility, which is why privacy assets such as XMR usually show a wider range than large-cap pairs.
Quotes are requested live from each connected provider when you enter an amount. Figures move with the market and expire — the amount you finally receive is the one confirmed by the provider you choose.
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