What is Pricing?
When you exchange one currency or asset for another (like converting USD to USDT), the price you pay isn’t always the same as the market rate. Pricing refers to how the exchange rate is calculated and what fees or margins are applied to your transaction. The quote response includes apricing object that returns all the values applied to the quote, including exchange rates, spreads, and fee calculations at the client level. This provides complete transparency into how pricing is calculated.
Exchange Rates and Spreads
Exchange Rate
The exchange rate determines how much of one currency you’ll receive for another. For example, a rate of 1.00 means exchanging 100 USD gives you 100 units worth of the target currency.Spread
A spread is the difference between the rate you pay and the market rate, expressed as a percentage or in basis points (bps). Basis Points:- 1 basis point (bp) = 0.01%
- 100 basis points = 1%
- 50 basis points = 0.5%
- Spread = 0.5% of $1,000 = $5
- Customer receives: $995 (or equivalent in target currency)
- Your revenue: $5
Pricing Structure
The quote response includes apricing object with the client section.
Client Pricing
Theclient section provides pricing information at the client level:
| Field | Description |
|---|---|
effectiveRate | The exchange rate applied to the client for this transaction |
spreadBps | The spread (in basis points) applied to the transaction |
pricingModel | The pricing model used (e.g., take_rate) |
calculatedAmount | The calculated amount based on the client’s pricing |