Indicative Quotes

An indicative quote returns a reference price for a corridor. It uses the same calculation path as a firm quote but does not persist, does not return a backend signature, and is not executable.

When to use

Display approximate FX rates in your UI before the user commits
Preview the full fee breakdown (fixed, variable, spread) for a given amount
Pre-flight check before requesting a firm quote

Request

POST /v1/quote

Field	Type	Required	Description
`corridor_id`	string	Yes	On-chain `bytes32` corridor ID. Obtain from `GET /v1/corridors`.
`from_token`	string	Yes	`0x`-prefixed ERC-20 address of the input token (the token you are sending).
`to_token`	string	Yes	`0x`-prefixed ERC-20 address of the output token (the token you want to receive).
`amount`	string	Yes	Decimal display amount of the input token, as a JSON string (e.g. `"1000"`, not `1000`).
`signer`	string	Yes	`0x`-prefixed wallet address that will call `commitFirmQuote` on-chain. Must be registered to your credential with swap permission.
`quote_type`	string	No	Must be omitted, `null`, or `INDICATIVE`. Sending `FIRM` is rejected.

Swap direction is determined entirely by which address you pass as from_token vs to_token. The pair and side fields appear in the response as server-derived values but are not request fields.

Example request

curl -X POST "https://sbx.ratiofx.com/api/router/v1/quote" \
  -H "x-ratio-api-key: rk_your_api_key" \
  -H "x-ratio-timestamp: 1789549200" \
  -H "x-ratio-request-id: req-1789549200-a1b2c3" \
  -H "x-ratio-signature: your_hmac_signature" \
  -H "Content-Type: application/json" \
  -d '{
    "corridor_id": "0xf27e318525f83cb4486917076e95260f720545663cd273cd71c78bb9bb0afb5b",
    "from_token": "0xd077a400968890eacc75cdc901f0356c943e4fdb",
    "to_token": "0x557b3de669e86365ab07068542d9eeb604a2c0ea",
    "amount": "1000",
    "signer": "0xYOUR_WALLET_ADDRESS"
  }'

const body = {
  corridor_id: "0xf27e318525f83cb4486917076e95260f720545663cd273cd71c78bb9bb0afb5b",
  from_token: "0xd077a400968890eacc75cdc901f0356c943e4fdb",
  to_token: "0x557b3de669e86365ab07068542d9eeb604a2c0ea",
  amount: "1000",
  signer: "0xYOUR_WALLET_ADDRESS"
};

// signRequest() is defined in the Full Example (/integration/full-example)
const { headers } = signRequest("POST", "/v1/quote", body);
const response = await fetch("https://sbx.ratiofx.com/api/router/v1/quote", {
  method: "POST",
  headers,
  body: JSON.stringify(body)
});

Response

{
  "success": true,
  "data": {
    "pair": "USDT-IDRX",
    "side": "SELL",
    "amount": {
      "in": { "display": "1000", "raw": "1000000000", "token": "USDT" },
      "out": { "display": "17652861.35", "raw": "1765286135", "token": "IDRX" }
    },
    "allowed_directions": ["BUY", "SELL"],
    "state_flag": "NORMAL",
    "quote_type": "INDICATIVE",
    "expires_at": 1789549260,
    "fee_breakdown": {
      "tier": "SMALL",
      "fixed": {
        "denominated": { "display": "10000", "raw": "1000000", "token": "IDRX" },
        "charged": { "display": "0.564971", "raw": "564971", "token": "USDT" }
      },
      "variable": {
        "bps": 7.0,
        "charged": { "display": "0.7", "raw": "700000", "token": "USDT" }
      },
      "spread": {
        "base_bps": "10",
        "volatility_bps": "1.5",
        "liquidity_bps": "3",
        "off_market_bps": "0",
        "state_extra_bps": "0",
        "inventory_skew_bps": "-0.5",
        "total_bps": "14",
        "charged": { "display": "24748.66", "raw": "2474866", "token": "IDRX" }
      },
      "partner_pricing": {
        "mode": "STANDARD",
        "discount_ppm": 0,
        "comparison_available": true,
        "standard": { "total_bps": "26.63200379", "total_usd": "2.66320038" },
        "charged": { "total_bps": "26.63200379", "total_usd": "2.66320038" },
        "savings": { "total_bps": "0", "total_usd": "0", "effective_reduction_bps": "0" }
      }
    },
    "quote": { ... }
  },
  "meta": {
    "request_id": "req_1789549200123456789",
    "timestamp": "2026-09-16T09:00:00Z"
  }
}

Key response fields

Field	Type	Description
`pair`	string	Derived pair in `BASE-QUOTE` token format (e.g. `USDT-IDRX`)
`side`	string	Derived direction: `SELL` (sending base) or `BUY` (receiving base)
`amount.in`	object	Input amount: `display`, `raw`, `token`
`amount.out`	object	Net output amount after all fees
`state_flag`	string	Risk state: `NORMAL`, `PROTECT`, or `RESTRICT`
`expires_at`	integer	Unix timestamp (server time + configured TTL)
`fee_breakdown`	object	Full fee transparency — see Fee Breakdown

All spread bps fields (base_bps, volatility_bps, etc.) are serialised as decimal strings and may be fractional ("3.5") or negative ("-0.5"). Parse them as strings, not integers.

How the numbers relate

1000 − 0.564971 (fixed) − 0.7 (variable) = 998.735029 USDT is swapped at mid → gross output 17,677,610.01 IDRX; the 14 bps spread → 24,748.66 IDRX; net output = 17,652,861.35 IDRX.

Errors

HTTP	Description
`400`	Invalid request or quote cannot be issued (amount outside limits, tokens not in corridor, `FIRM` sent to this endpoint)
`401`	Authentication failed
`403`	Corridor or `signer` wallet not enabled for your credential
`422`	Malformed request body (plain-text response)
`503`	Quoting temporarily unavailable (market data, risk state, corridor halted)

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Indicative Quotes

When to use

Request

Example request

Response

Key response fields

How the numbers relate

Errors

​When to use

​Request

​Example request

​Response

​Key response fields

​How the numbers relate

​Errors

When to use

Request

Example request

Response

Key response fields

How the numbers relate

Errors