RFQ trading on Revolut X

Revolut X lets you trade large blocks of crypto that would otherwise cause significant price impact on the exchange order book.

How it works​

Request for Quote (RFQ) trading happens off the order book: the trade is agreed directly between you and a market maker, so it doesn't go through the normal trading channels — that's why RFQ trading has its own set of endpoints.

The flow has three steps:

1. Request an RFQ quote for a currency pair, side, and size.
2. Receive an executable price with a short-lived signed quote token.
3. Accept the quote to place the order, at exactly the quoted price.

All three RFQ endpoints are part of the Crypto Exchange REST API and use the same authentication: an API key with Ed25519 request signing. See Create an API key and Authenticate requests.

Before you begin​

Before you start, make sure you have:

• An API key with RFQ permissions. Create an API key in the Revolut X web app with rest.otc.view to request quotes and view limits, and rest.otc.trade to accept quotes. Agentic clients can use the corresponding agent.otc.view and agent.otc.trade scopes.
• Passed KYC (retail) or KYB (business) verification.
• High Net Worth categorisation (UK retail clients only). UK retail clients must be categorised as High Net Worth investors to use RFQ trading.

1. Request a quote​

Request a quote by sending this request:

POST https://revx.revolut.com/api/1.0/otc/quotes HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>
Content-Type: application/json

{
  "symbol": "BTC/USD",
  "side": "buy",
  "qty": "2.5"
}

POST https://revx.revolut.com/api/1.0/otc/quotes HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>
Content-Type: application/json

{
  "symbol": "BTC/USD",
  "side": "buy",
  "qty": "2.5"
}

Set side to buy or sell, and provide exactly one of:

• qty: The quantity to trade, in the pair's base currency (BTC in BTC/USD).
• amount: The amount to spend or receive, in the pair's counter currency (USD in BTC/USD).

The response contains the executable price, the order book reference price, and the signed quote token:

{
  "data": {
    "quote_id": "550e8400-e29b-41d4-a716-446655440000",
    "symbol": "BTC/USD",
    "side": "buy",
    "price": "79979.90",
    "qty": "2.5",
    "order_book_price": "80100",
    "expires_at": 1785313438816,
    "signature": "eyJxdW90ZV9lbnRyeV9pZCI6...",
    "liquidity_status": "filled"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

{
  "data": {
    "quote_id": "550e8400-e29b-41d4-a716-446655440000",
    "symbol": "BTC/USD",
    "side": "buy",
    "price": "79979.90",
    "qty": "2.5",
    "order_book_price": "80100",
    "expires_at": 1785313438816,
    "signature": "eyJxdW90ZV9lbnRyeV9pZCI6...",
    "liquidity_status": "filled"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

The table below describes the fields of the data object.

All financial decimal values are returned as strings. The response contains only the applicable qty or amount; fields with no value are omitted rather than returned as null.

2. Accept the quote​

Accept the quote and place the order by sending this request:

POST https://revx.revolut.com/api/1.0/otc/orders HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>
Content-Type: application/json

{
  "signature": "eyJxdW90ZV9lbnRyeV9pZCI6..."
}

POST https://revx.revolut.com/api/1.0/otc/orders HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>
Content-Type: application/json

{
  "signature": "eyJxdW90ZV9lbnRyeV9pZCI6..."
}

The quote's terms (pair, side, size, price) are bound to the signed token and cannot be modified. The token is tied to your account. Treat it as single-use: once the downstream order has been submitted, retrying it does not create a second order. If acceptance fails before submission, request a new quote rather than relying on replay.

The response returns the placed RFQ order and its immediate execution status:

{
  "data": {
    "transaction_id": "3fa85f64-5717-4562-b3fc-2c963f66afa6",
    "status": "filled"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

{
  "data": {
    "transaction_id": "3fa85f64-5717-4562-b3fc-2c963f66afa6",
    "status": "filled"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

The table below describes the fields of the data object:

A rejected response represents an immediate execution or fincrime decision. Insufficient balance and other processing failures are returned as HTTP errors instead.

3. Check RFQ limits​

Check the limits by sending this request:

GET https://revx.revolut.com/api/1.0/otc/limits?symbol=BTC/USD HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>

GET https://revx.revolut.com/api/1.0/otc/limits?symbol=BTC/USD HTTP/1.1
X-Revx-API-Key: <API_KEY>
X-Revx-Timestamp: <TIMESTAMP>
X-Revx-Signature: <SIGNATURE>

The response contains the minimum trade amount for the pair:

{
  "data": {
    "min_amount": "100000",
    "symbol": "BTC/USD"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

{
  "data": {
    "min_amount": "100000",
    "symbol": "BTC/USD"
  },
  "metadata": {
    "timestamp": 1785313433816
  }
}

The table below describes the fields of the data object:

Rate limits​

If you are rate-limited, use the Retry-After response header, which specifies the delay in milliseconds.

Errors​

RFQ errors use the standard error response:

What's next​

For the full request and response schemas, rate limits, and error samples, see the RFQ trading section of the Crypto Exchange REST API reference.