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Topic: Cheapest way to swap USDC to ETH Onchain? (Read 112 times)

legendary
Activity: 2632
Merit: 1212
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February 24, 2024, 05:24:30 AM
#11
I use USDC on Polygon. MATIC fee is only 2 cents and all the biggest DEXes have it like Uniswap but I guess your big problem is still on ETH network.

But I don't know about bridging. Never did.

Do you consider doing it on exchange? Send the ETH to Binance, you can swap it for USDC right there and send it back to yourself on ETH network. Fee is only $1.
hero member
Activity: 1190
Merit: 516
Eloncoin.org - Mars, here we come!
February 24, 2024, 05:10:58 AM
#10
Bridging fees depends on the Blockchain. Eth network requires higher fees due to the price of eth and the amount of gas fees. It's same for all other 3rd party bridges. I saw there is a new multichain bridges that requires very low fees for all the existing Blockchain. I can not remember the name of the platform but some users gave positive reviews about that project.
legendary
Activity: 3738
Merit: 1708
February 24, 2024, 01:27:31 AM
#9
So I went to Uniswap and there was a Gasless option called UniswapX, it said there would be no gas for the transaction. So I first I had to approve the USDC which was $4, so not that bad and I assumed it would be gasless after that. But after 2-3 minutes the swap was complete and I look and the fee was like $15 and this was just done when the Gwei was only 20 or so.

Since you only need to approve the USDC spend once, how can I use the Gasless UniswapX so I don't end up paying the $15 fee next time. The ERC20 and ETH transfers aren't so bad, same with the approval, its the actual swap which is crazy expensive.
newbie
Activity: 1
Merit: 0
February 23, 2024, 03:25:05 AM
#8
you also need to factor in the fact that you need to approve each token on each new chain before you make your first swap Angry
sr. member
Activity: 1120
Merit: 253
February 23, 2024, 01:15:17 AM
#7
Looking for cheapest fees way for swapping coins in network ETH seems difficult regarding gwei fees condition, currently gwei up to 30 and take more than 20$ fees for swapping coins and I don't think good ideas when receiving USDT stable coins trough ERC20 network.
Actually you need waiting when lower fees of gwei usually in the morning and you can swap with under $5 fees swap, its first your USDT stable coins with network ERC20 you need several fees from approving, swapping and sending coins need to pay eth as fees.

Right now not good ideas with stable coins in ERC20 network, better swap it first to Ethereum and then send to your exchange wallet for selling trough P2P transaction. Has potential paying higher fees transaction when swapping ERC20 coins in the future because ethereum price up drastically and difficult get lower fees gwei.
legendary
Activity: 3738
Merit: 1708
February 23, 2024, 01:08:14 AM
#6
I looked around and found 1inch to be slightly cheaper, maybe by $5 or so. There are a few others but the costs are more or less the same.

How does the Fusion on 1inch work exactly? Says it’s gas free but it might take a while to fill and price might not be the best relative to the market price. Anyone used the 1inch Fusion to make some swaps?
mk4
legendary
Activity: 2716
Merit: 3817
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February 22, 2024, 07:49:52 PM
#5
You're really not going to have a good time if you want to swap anything on-chain on Ethereum base-chain. There's really no going around the fees besides using a CEX.

But yea, like what GreatArkansas said, the best is to use an aggregator like DefiLlama if you want to get the best bang-for-buck. You're still going to pay the hefty on-chain fees though. If you bridge and swap, you're likely to pay more due to worse liquidity I think.
legendary
Activity: 2282
Merit: 1344
Buy/Sell crypto at BestChange
February 22, 2024, 07:44:59 PM
#4
How about using some DEX aggregator?
Where you can see most of the DEX platforms and compare their fees how much you will get when you exchange and how much fee you will pay.
This DefiLlama tool is helpful especially it supports multiple chain networks, not only Ethereum.

Code:
https://swap.defillama.com/

copper member
Activity: 1960
Merit: 1638
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February 22, 2024, 06:51:34 PM
#3
Have you tried calculating fees from instant exchanges
The likeable one is obviously Exch.cx if you don't like KYC. Then there are also others like sideshife.ai and exolix.com, but they might ask for KYC if they flag your transaction as suspicious.
legendary
Activity: 1582
Merit: 1284
February 22, 2024, 09:40:54 AM
#2
You cannot ignore the gas fees, so you will have to pay them next time. Use USDC on matic. As for the cheapest exchange, Bestchange give you a list of available platforms here https://www.bestchange.com/usd-coin-to-ethereum.html

Look for a platform that has good reviews and a good exchange rate and use it.
If you used USDC on matic, all costs + exchange fees would be 0.5$
legendary
Activity: 3738
Merit: 1708
February 22, 2024, 12:34:45 AM
#1
Say you have some USDC on the ETH network you want to swap for ETH.

Currently the fees are 30 Gwei, so if you use Uniswap on the ETH network the total fees will be around $25.

Wondering if there is any cheap way to bridge to another network, do the swap there, and bridge back. Just the USDC starts on the ETH network and the ETH needs to end up on the ETH network.

Anyway to save on fees doing this?

I am seeing that the fee to bridge from ETH to ZkSync ERA is $2 on Orbital.Finance but to bridge back its $15 dollars. I am confused why the fee is so cheap one way but expensive the other.
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