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ClearTrace

DEX Execution Insights

July 16, 2026  ·  Ethereum mainnet

Lead finding

An honest quote is not a cheap trade

ClearTrace measures two separate things per aggregator: whether the price you are quoted is the price you get (quote accuracy, from fork-simulated samples), and what that trade actually costs against mid (execution cost, from every on-chain fill). This period the two barely correlate. Six of the seven rated aggregators quote honestly, with a median gap between quoted and realized price under 2 bps. Yet the realized cost of those same trades ranges from 4.36 bps (1inch) to 23.96 bps (Sushi), a spread of roughly 20 bps on overlapping major pairs.

The Uniswap direct-DEX baseline, the cost of just swapping straight through Uniswap, sat at 10.04 bps. Only 1inch (4.36), Bebop (8.80) and Odos (8.86) came in under it. A tight quote tells you the router is not overselling its price; it does not tell you the route it picked was the cheapest one. Both numbers are worth checking, and they answer different questions.


This period in numbers

 

Quotes hold up, with one exception

Across seven rated aggregators, the median gap between quoted and realized price is 0.0 bps for 1inch, Bebop and Sushi, 0.03 bps for Odos, 1.0 bps for Paraswap and 1.81 bps for KyberSwap. OpenOcean is the outlier at 11.48 bps. Source: ClearTrace quote sampler (fork-simulated, rated cells only), generated 2026-07-16.

 

Execution cost spans 4 to 24 bps

Median on-chain execution cost over all trades: 1inch 4.36 bps, Bebop 8.80, Odos 8.86, KyberSwap 10.20, OpenOcean 14.73, Paraswap 17.64, Sushi 23.96. These are observed medians and partly reflect each router's trade mix, but only three beat the 10.04 bps Uniswap baseline. Source: on-chain slippage (onchain_slippage_bps), synced 2026-07-15.

 

Revert rates only compare within a model

Among order routers, the revert rate over genuine users (methodology v6) runs from 0.26% (1inch) to 2.52% (Odos). CoW Protocol's near-zero on-chain revert is structural, not a reliability edge: a solver submits the trade, so an unfilled order never becomes a reverted user transaction. Do not rank revert across execution models. Source: onchain_user_revert_rate_pct, 2026-07-15.

 

214 rated cells, 93.1% attribution coverage

The sampler has now taken 18,672 fork-simulated quote samples over 23.4 days (91% realized), of which 214 cells have cleared the rated bar (at least 30 realized samples and a 7-day span). Cross-chain attribution coverage sits at 93.1% (Ethereum 94.4%, Base 90.5%, Arbitrum 88.4%, Optimism 83.8%). Source: quote sampler report + attribution coverage, synced 2026-07-15.


Explore the full aggregator leaderboard, chain-by-chain coverage, and live attribution data at the ClearTrace dashboard. The methodology notes explain how execution cost, quote gaps, revert rates, and rated-cell thresholds are computed.

Open Dashboard   Methodology

ClearTrace · Cross-chain DEX attribution · Data as of 2026-07-16 (quote sampler) / 2026-07-15 (on-chain attribution).
Execution cost and revert rate are on-chain medians over all trades; the Uniswap baseline is the direct-DEX median that aggregators are compared against. Quote-gap figures are rated (at least 30 fork-simulated realized samples and a 7-day span). Revert rates are not comparable across execution models.
Figures are sourced from on-chain trace data and the ClearTrace live quote sampler. No protocol claims are fabricated.

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