> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rialto.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Understanding Quotes and Pricing

> How Rialto determines your price and how to read the parts of a quote.

## How your price is determined

When you enter an order, Rialto requests a live price for that exact size from
every supported source and routes to the one that returns the most output after
network costs. The quote you see is the result of that comparison, not a single
venue's standing price.

Because propAMM sources update their quotes continuously, the price reflects
current market conditions at the moment you request it.

## Reading the quote

A quote shows:

* Expected output. The amount you receive if the trade settles at the current
  quoted price.
* Minimum received. The least you will accept, derived from your slippage setting.
  The trade reverts if it cannot deliver at least this amount.
* Rate. The effective exchange rate between the two assets for this order.
* Fees. Any applicable fees, already reflected in the expected output.

## Quote validity

Quotes are valid only for a short window because the underlying prices move
quickly. If a quote ages before you confirm, Rialto refreshes it so you always act
on current terms.