ApeSwap's decentralized exchange (DEX) allows users to swap between tokens in the most efficient way possible.
Read below to learn the basics of swapping, or continue to the How to Swap page to for instructions on use the ApeSwap DEX to swap tokens.

How Swaps Work

Swapping tokens is one of the most fundamental functions of a DeFi DEX. Decentralized exchanges like the ApeSwap DEX allow users to send their tokens into the protocol and receive as close to an equal value of another token as possible, after accounting for transaction fees, slippage, and price impact.
In the world of DeFi, smart contracts dictate each step of a swap transaction, with no human or centralized intermediaries involved. This gives users several advantages relative to traditional or centralized currency exchanges, including:
  • Fast transaction speeds
  • Permissionless trading
  • Flexibility and access to a wide variety of tokens
  • Markets that are always open
Most importantly, swapping between tokens allows users to take advantage of unique opportunities within DeFi. For example:
  • A user who wants to buy a protocol utility token, like BANANA, can use the ApeSwap DEX to swap it with an existing token, such as the BNB Chain protocol token ($BNB) or the BNB Chain stablecoin ($BUSD). The user now has a utility token which they can hold, stake to earn rewards, or convert to GNANA to participate in governance.
  • A user who is interested in supporting a particular crypto project on BNB Chain can use the ApeSwap DEX to buy a listed project's token with BANANA, BUSD, or any other of the tokens listed on the DEX. At any hour, they are free to swap tokens at fast speeds without the permission of an intermediary.
  • A user who wants to consolidate crypto tokens into stablecoins to add stability to their portfolio can use the ApeSwap DEX to trade their project tokens for BUSD or any other listed stablecoins at any time, for any reason, without requesting permission from a centralized source.

Trading Fees

ApeSwap collects a 0.20% trading fee every time users swap tokens on the exchange. A portion of the fees goes to the ApeSwap Treasury, and a portion is distributed to liquidity providers.
For more information on how fees are distributed for trades each chain, visit the Liquidity Mining section.
NOTE: If you hold BANANA or GNANA, every trade on the ApeSwap DEX benefits your position, since a portion of Treasury funds are used to buy back and burn BANANA. If you hold ApeSwap tokens, it benefits you more to trade exclusively on ApeSwap!


While token swaps do occur at very fast speeds on the blockchain, there can still be a (usually small) difference between the price you see when you submit a swap transaction, and the price that applies when the transaction is recorded on the blockchain. This difference in prices is called "slippage".
When you submit a swap on the ApeSwap DEX, you select a "slippage tolerance" amount, which is the pricing difference that you are willing to accept while the trade is executing. While slippage tolerance ranges between 0.10% and 1.00%, the default slippage tolerance is 0.50%. However, If the price difference between submission and confirmation of the trade exceeds that amount, the trade will fail.
If the token you are trading has a reflect fee, then the slippage tolerance will need to meet or exceed the reflect fee percentage for the trade to succeed.
Price Impact
Slippage occurs not only from the change in prices from other user's trades, but also from the trade you submit. This is called "price impact", and it's expressed in percentage at the bottom of the swap module. If your slippage tolerance is below the price impact of your trade, the trade will fail.
Price impact is dictated by the constant product formula. If you'd like to learn more about the constant product formula, check out this in-depth explanation.

Tx Deadline

Swaps have a default transaction deadline of 20 minutes before they time out and fail. This ensures that incomplete transactions do not remain in your wallet indefinitely. You can adjust this time limit in the settings of the Swap page.

Expert Mode

ApeSwap's Expert Mode turns off the Confirm transaction prompt and allows high slippage trades that can result in bad rates and lost funds. Expert Mode can also allow you to send the tokens you're trading into to an address other than your own. We recommend you enable this mode only if you are an experienced user who understands these risks well.
Expert Mode Warning: ApeSwap makes no warranty on Expert Mode transactions, and is not responsible for exchanges made at lower-than-market rates, lost funds, or tokens sent to wallets out of your control. Expert Mode transactions are made at your own risk.
Continue to the How To Swap page to learn how to trade on ApeSwap's DEX.