Private swaps

Set confidential: true on /quote. The race narrows to venues with a private settlement path, and the best output wins. If none can quote, you get 404 NO_LIQUIDITY, never a public fill.

Venue	Cost vs a public swap	Speed	Notes
NEAR Intents (Confidential Intents)	About 0.3 bps more EVM to EVM, 5 to 8 bps when Bitcoin or Solana is a leg	Like a public swap	The cheapest. Any to any
Houdini Swap	About 3% below spot	Minutes to an hour	Settles through two partner exchanges, which hold the funds meanwhile. About $25 minimum
Hinkal	About 0.3 to 0.45% less than NEAR	Seconds after the deposit, plus the bridge	Opt-in, EVM chains only. See below

Each hides the direct link between deposit and payout; how strongly depends on the venue. Your integrator fee applies, paid beside the swap. Read estimatedTimeSeconds before executing.

Compliance

Houdini Swap receives your request’s IP and user agent, plus clientTimezone (your user’s IANA timezone, default UTC). Its terms bar US persons and sanctioned jurisdictions.
Hinkal’s terms bar Cuba, Iran, North Korea, Syria, and Crimea, Sevastopol, Donetsk and Luhansk.

RAVN leaves a venue out when your request comes from a barred country. You are responsible for your end users’ eligibility: pass excludeVenues: ["houdini"] or ["hinkal"] where you can’t meet it.

Hinkal

Your user pays into Hinkal’s shared pool, and Hinkal pays the recipient from a fresh wallet through LI.FI, so the payout can arrive in another token or on another chain. LI.FI’s 0.25% and Hinkal’s 0.10% plus a small flat fee come out of the quoted output. The deposit itself is heavy (450k to 670k gas), paid by the user’s wallet and shown in the quote’s gas. Limits

Races only when the quote has authorizeSteps: true (or onlyVenues naming hinkal), so a flow that can’t collect the signatures below never gets a Hinkal quote.
From Ethereum, Base, Arbitrum, Polygon, BNB Chain or Robinhood Chain. Pays out on any of those, plus Solana, Arc, Tempo, Avalanche, Monad and HyperEVM.
Any token Hinkal’s pool takes, except stETH and PAXG. Up to $10,000 a swap.
Needs destinationAddress on the quote, or the quote is only a preview. Takes no refundAddress other than userAddress.
Up to 12 swaps an hour per IP, or 120 per API key. Past that, /execute answers 502 BUILD_FAILED. Send your key.
Not available through the MCP server or x402.

Privacy is thinner than NEAR’s. Hinkal has few users, and the payout follows the deposit by seconds for about the same amount, so timing can still link the two wallets. Hinkal screens depositors, and a flagged depositor’s funds can only go back, publicly, to the wallet that paid. RAVN keeps the order encrypted for 7 days to track and recover it. Tell your users it hides the direct link, never that it’s untraceable.

AUTHORIZE steps

Before Hinkal’s swap is built, the paying wallet (userAddress) signs twice. /execute asks for each signature with an AUTHORIZE answer:

{
  "executionType": "AUTHORIZE",
  "quoteToken": "…",
  "authorization": "hk_…",
  "sign": { "method": "personal_sign", "message": "Authorize Hinkal session\nSession ID: …\nPublic Key: …" },
  "expiresAt": "2026-10-22T12:09:00.000Z",
  "step": 1,
  "steps": 2
}

Have the wallet sign sign, then call /execute again with the same quoteToken, this authorization and the signature, before expiresAt, with a new Idempotency-Key. Repeat until a TRANSACTION comes back. Signing moves no funds. Check each step before your user signs:

personal_sign: opens a read-only session. The message must be exactly the three lines above. Refuse one that adds This signature can also be used to submit transactions.: that mode’s key could move the wallet’s funds.
eth_signTypedData_v4: Hinkal’s PrivateSendBridge order, signed on the input chain. Its domain is only { name: "Hinkal Enclave", chainId }, it’s for the input token (the zero address for the chain’s coin) and at most the input amount, and recipients holds exactly one entry: your destinationAddress.
The TRANSACTION: the approval on a token sell, then prooflessDeposit on 0x7cb60446d7635C68EDf1c568cac74A1f98c1Cfa4 (the same address on every chain), your fee when one applies, and a statusRef. Send its calls one by one.

Send the deposit within 10 minutes of receiving the second AUTHORIZE. Hinkal prices its route then, and a later deposit is likely to fail at the bridge. The TRANSACTION carries no deadline, so note the time yourself. Have the wallet sign step 2 within about 6 minutes: with under 4 of them left, the order is refused (400 INVALID_REQUEST) and you start again from /execute.

On JavaScript or TypeScript, executeAndTrack checks and signs both steps, then sends the deposit. In Python, check_authorize checks each step. A sandbox quote skips the steps.

When a Hinkal swap fails

A failed payout is not refunded on its own. /status reports failed (never refunded), with venueStatus ending (needs recovery), and the funds wait at Hinkal on the source chain. The paying wallet gets them back with POST /recover, within 7 days. After 7 days RAVN no longer holds the swap and its status reads unknown.

​Compliance

​Hinkal

​AUTHORIZE steps

​When a Hinkal swap fails

Compliance

Hinkal

AUTHORIZE steps

When a Hinkal swap fails