Swap routing

When you swap in the web app, you do not pick a pool — routing does. This page explains where your quoted price comes from and what the router optimizes for.

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How the app routes a swap

The app compares the best V1/V2 AMM quote with an eligible V3 order-book quote. It selects one venue for the swap; it does not split a single swap between the order book and AMM pools. Within the AMM route, the router evaluates available paths from the input token to the output token. That route can be:

• Direct. A swap through one V1 or V2 pool.
• Multi-hop. A swap routed sequentially through up to three V1 or V2 pools, either because no direct pool exists or because the indirect path prices better.
• Split route. A swap divided across multiple paths at the same time to improve executable output and reduce price impact.

The AMM router selects the path or combination of paths with the best executable output for your trade size, accounting for pool fees and price impact. V3 is selected only when its quote is fresh, fully executable for the requested size, and at least 5 basis points (0.05%) better all-in than the AMM quote. Otherwise, the swap uses the AMM route. Check the selected venue and quote details before confirming.

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The order book and AMM-backed settlement

The V3 order book has a separate, one-way AMM backstop. Where enabled, a V3 order can opt into settlement against AMM liquidity, subject to the order’s signed parameters. This backstop is distinct from the swap page’s comparison of complete venue quotes. See V3 markets for market availability and routing eligibility.

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For integrators

The smart order router is part of the SaucerSwap app and is not exposed as a public API. Integrators quote directly against the venues:

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Next steps