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Small swaps: the maths before you press go

Below a certain size, gas and fees eat the trade. How to work out your break-even, which networks make small swaps viable, and when not to bother.

Fixed cost Gas per transaction, plus a separate approval the first time
Variable cost Pool fee, price impact and the 0.70% platform fee
Decides everything Which network you trade on

FBT Swap

What you should know

There is a trade size below which the costs exceed the point of trading. It is not a secret and it is easy to compute, but almost nobody does it before clicking.

The number depends almost entirely on which network you are on, which is the single most useful thing to know about small trades.

Working out your break-even

Add the three costs: network gas for the swap (plus an approval if this is the first time you use that token), the pool fee inside the price, and the platform fee. On FBT Swap the platform fee is 0.70% of the input, shown before you sign.

Divide the fixed part — gas — by your trade size. A two-dollar gas cost on a twenty-dollar swap is 10% before anything else. The same gas on a two-thousand-dollar swap is 0.1%.

Why the network choice dominates

Gas is close to fixed per transaction and varies by orders of magnitude between networks. The same swap that costs several dollars on Ethereum mainnet can cost a fraction of a cent on a rollup or a high-throughput chain.

For small amounts, choosing the network is not an optimisation. It is the difference between a viable trade and a donation to block producers.

The costs people forget

The approval transaction is separate and is charged even though it moves nothing. Native-coin gas must already be in the wallet on that network, so a first trade there may need a bridge or a transfer first, each with its own cost.

And a thin pool charges price impact that does not scale down — a small trade into a very small pool can still cost several percent.

When the right answer is not to trade

If total costs exceed roughly 1–2% and the trade is not time-sensitive, accumulating and trading once is usually better than five small swaps. Each swap pays gas again; one larger swap pays it once.

This is also the honest answer to "can I start with ten dollars?" — yes, on a cheap network, and no, on Ethereum mainnet. Stating that plainly is more useful than encouraging a trade that cannot work.

At a glance

At a glance

Fixed cost

Gas per transaction, plus a separate approval the first time

Variable cost

Pool fee, price impact and the 0.70% platform fee

Decides everything

Which network you trade on

Rule of thumb

If total cost exceeds 1–2%, batch the trade instead

FAQ

Frequently asked questions

Clear answers before you decide.

What is the minimum sensible swap size?

There is no fixed figure because gas is not fixed. Compute it: gas divided by trade size, plus the pool fee, plus 0.70%. If that total is uncomfortable as a percentage, the trade is too small for that network.

Can I avoid the approval cost?

Only by swapping the native coin, which needs no approval, or by reusing an allowance you already granted for that token and spender. Otherwise it is a genuine one-off cost per token per spender.

Is the platform fee charged on tiny swaps too?

Yes — 0.70% of the input on supported routes, shown in the quote before you sign. It scales with the trade, so it is not what makes small swaps expensive; fixed gas is.

Risk notice

Crypto assets are volatile and on-chain transactions cannot be reversed. You can lose money, including all of it. Nothing here is financial advice.