Floating rate
A swap quote that is recalculated at the market rate when your deposit is processed.
A floating rate is an estimate. The final amount you receive is calculated when your deposit is confirmed and exchanged, so it can end up higher or lower than the number you saw when you created the swap.
Because the provider does not carry price risk, floating quotes usually start out better than fixed ones. For stablecoin pairs and calm markets, the difference between the estimate and the result is often small.
The risk grows with volatility and time. A coin that moves several percent in an hour, or a deposit that needs many confirmations, can turn a good estimate into a worse result. If you need a guaranteed payout, choose a fixed rate; if you want the best expected price and can accept some movement, a floating rate often makes sense.
