> ## Documentation Index
> Fetch the complete documentation index at: https://berachain-422fce37-docs-staking-pool-install-cli.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.
# Swaps
> Single-hop and multi-hop swaps, routing, and slippage settings.
BEX lets you exchange one token for another when liquidity exists for the pair. Use the BEX interface on Bera Hub (navbar) for swaps.
## Single-hop and multi-hop swaps
If adequate liquidity exists in a given pair, BEX most likely executes the swap as a *single hop*. Single-hop swaps incur less exchange and gas fees, making them the preferred method.
However, when a trade between the input and output token does not provide the best overall price (or the trading pair does not exist as a single pool), BEX can perform a *multi-hop swap*. Multi-hop swaps involve chaining swaps across multiple pools to find the best overall price. The process of finding a cost-efficient multi-hop path is called *routing*.
### Intermediate tokens
In a multi-hop swap, *intermediate tokens* are the tokens held temporarily when swapping through a sequence of pairs. Intermediate tokens in BEX are never transferred because settlement occurs based on the net debit against the entire BEX protocol.
## Swap parameters
When initiating a swap, you can define the following parameters:
* **Quantity**: The amount of tokens to swap, which can be specified as either a fixed input quantity or a fixed output quantity.
* **Slippage**: The maximum acceptable difference between the expected and actual price of the trade. Slippage is expressed as a percentage and represents the worst-case price impact you are willing to accept. If the actual price impact exceeds this threshold, the swap transaction will revert.
