The rate type determines when your exchange rate is finalized.
A fixed-rate exchange is designed to protect the displayed receive amount for a limited period. The deposit must meet TurboSwap's fixed-rate conditions, including the required timing and amount. Significant market movement can also affect whether the original fixed rate remains available.
Consider a fixed rate when certainty about the expected receive amount matters more than getting the lowest available service fee.
A floating-rate exchange does not lock the final exchange rate when the order is created. The displayed receive amount is an estimate, and the final rate is determined after the deposit reaches the required network confirmations.
Consider a floating rate when you are comfortable with the final amount changing with the market while your transaction confirms.
The exchange form will show which rate types are currently available for your selected pair.