A limit price is not a stop-loss trigger
Separate an acceptable execution price from a condition that activates an order after a market threshold is reached.
The reference
All swap guides
Browse 484 guides to DEX aggregation, BNB Chain, swap execution and integration.
A swap quote is not a completed trade
Track the difference between a calculated offer, authorization, submission and a settled token exchange.
AMM reserves and price feeds have different jobs
Separate the state that prices an AMM swap from an oracle or chart that reports a reference value.
Batch auctions vs Dutch auctions for token swaps
Compare auctions that group orders with auctions that change an individual order’s executable terms over time.
Coincidence of wants: matching opposite trading needs
Use a simple token example to see how opposing user orders can settle directly and what happens to an unmatched remainder.
Concentrated liquidity from a swapper's perspective
Understand active price ranges and combined liquidity curves without needing to manage an LP position.
DEX aggregator vs bridge: trading and moving assets
Distinguish exchanging tokens on one network from delivering assets to another network, including workflows that combine both.
DEX aggregator vs DEX: what changes for the trader?
Separate the exchange that supplies token liquidity from the routing service that selects how to use it.
Exact input vs exact output: choosing the right constraint
Choose between fixing your spending amount and fixing your receipt, with minimum-output and maximum-input examples.
Fill-or-kill vs partially fillable orders
Compare full-size fulfillment with partial fills, calculate proportional order limits and understand what remains open after a fill.
Firm vs indicative quotes in token trading
Distinguish a reference estimate from executable trade terms, and understand the conditions that still apply to a firm quote.
How a DEX limit order sets its exchange rate
Learn how token amounts, expiry and fulfillment rules encode a DEX limit order without guaranteeing a fill.
How arbitrage aligns pool prices with outside markets
Explain how trades connect reserve-based pool prices to outside markets without assuming an AMM automatically copies a price feed.
How constant-product pools price a swap
Work through constant-product swap output, input-side trading fees and the difference between quoted rate and reserve ratio.
How stable-swap pools handle correlated assets
Explain stable-swap pricing by comparing fixed-price and constant-product boundaries, with attention to imbalance and amplification.
How unequal pool weights affect swap prices
Use normalized reserves to understand the spot relationship in an unequal-weight pool and why raw balances alone can mislead.
Maker and taker roles beyond centralized exchanges
Understand liquidity creation and consumption roles in signed orders, RFQs and AMM-based swaps.
Order books vs AMMs: where executable prices come from
Compare discrete resting offers with reserve-based pricing and see how both can supply an aggregated token trade.
Order expiry vs cancellation: different end states
Distinguish an order becoming invalid with time from active cancellation, and understand why prior partial fills remain real.
Permissionless pools do not guarantee aggregator support
Explain the gap between a pool existing onchain and a quote service indexing, integrating and selecting it.
Pool spot price vs the price of an actual swap
Distinguish an infinitesimal pool price, a chart reference and the average exchange rate available for a full swap.
Reading a DEX trading pair without reversing the price
Read base and quote units correctly, invert displayed rates, and distinguish a reciprocal reference price from an executable reverse trade.
Router contract vs DEX aggregator: two different jobs
Understand route search, transaction construction and onchain execution without confusing a router contract with an aggregation service.
Sender, spender and recipient: who does what in a swap?
Identify the account that signs, the contract authorized to spend, and the address that receives the output of a swap.
Swap settlement vs transaction confirmation
Distinguish successful swap execution from transaction inclusion and the chain’s later confirmation or finality guarantees.
Swap simulation vs actual execution
Learn what a successful swap simulation establishes and why future execution can still face different market or account state.
Wallet swaps and aggregator websites: where execution comes from
Learn how wallet swap buttons use quote providers and settlement contracts, and why the wallet interface alone does not identify execution.
What a market swap means on a DEX
Understand immediate-execution swap requests and why a DEX market order can still contain strict price and amount limits.
What a settlement contract does after a quote is selected
Separate the contract that validates and applies a trade from the offchain system that searched for an attractive route.
What a solver does for a swap order
Follow how a solver searches for compliant execution, constructs a settlement and participates in a protocol-defined competition.
