Writing

Notes from running a router that prices eight swap providers at once. Where a piece quotes a figure, that figure was measured against live providers on a stated date rather than repeated from somewhere else.

• Splitting unequally costs nothing28 September 2026Equal legs are the easiest split to reassemble, and the obvious fix looks like it should cost money. Measured on two separate days: unequal legs scored twenty points better on linkability and came out cheaper both times.
• Why small swaps cost more27 September 2026Seven providers priced at six transfer sizes in one pass. The gap between best and worst runs 21% on 25 USDT and 1.7% on 5,000 — and the provider that pays best at the smallest size pays worst at the largest.
• What a crypto swap actually costs26 September 2026The quoted rate is not the price. Measured across eight providers on live pairs: how far apart they are, how far the best one still sits under the real market, and what splitting a transfer costs on top.