What's the difference between Swap, Spot and OTC?
- Swap fills your trade right away at the current price, routed through liquidity pools and, by default, order books.
- Spot trades on a market's order book. A limit order waits until another user fills it at your price; a market order fills right away against the open orders.
- OTC (over-the-counter) is a direct trade with another user at a fixed price set by the order's creator, independent of pool and order book prices.