Trading

Swap Execution

How a trade moves from a quote in the interface to settlement on Solana.

RwaMarkets does not operate its own liquidity pools. When a user requests a trade, RwaMarkets sends it to its execution provider, a third-party Solana swap aggregator. The provider searches available routes and returns a quote together with an assembled, unsigned transaction. The user reviews the quote and signs the transaction in their own wallet.

Interface ──/api/swap/order──▶ execution provider ──▶ quote + unsigned transaction
    │
    ▼  user reviews and signs in wallet
Interface ──/api/swap/execute──▶ execution provider ──▶ Solana ──▶ confirmation

What is shown before signing

Item	Meaning
You pay	The exact input amount.
You receive (estimate)	Expected output from the quote, before slippage.
Rate	Implied price of one unit of the asset in the payment token.
Price impact	How much the trade moves the price relative to the provider's reference price.
Minimum received	The least the transaction can deliver; below this it fails instead of executing.
Max slippage	Tolerance set automatically by the provider's slippage estimator, or 0.00% for firm quotes.
Swap fee	The fee charged on the route, as a percentage.
Network fee	Solana signature and priority fees, or “Covered” when sponsored.
Account rent	Refundable SOL deposit to open a new token account, when needed.

Quotes are not permanent

Quotes refresh automatically every 20 seconds, and every 15 seconds while the review screen is open.
Before signing, a quote older than 25 seconds — or an RFQ quote within 5 seconds of expiry — is replaced with a fresh one. If the new quote is more than 0.5% worse, the user must confirm again.
If a quote expires or the price moves beyond tolerance during execution, the trade fails safely and a new quote is requested.

Request parameters

RwaMarkets sends only the required parameters — input mint, output mint, amount and the user's wallet address — so that all available routing engines can compete.