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description: Decentralized exchange of various coin pairs
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# TOKEN SWAP

Arbitrum Exchange is a decentralized exchange that facilitates trading of various coin pairs using an automated market-making system. With Arbitrum Exchange, users can trade coins on the Arbitrum network without having to rely on any centralized intermediary and without having to pay excessive fees.

The platform operates on a non-custodial basis, ensuring that users maintain control of their funds at all times. Trading fees on the exchange are distributed among stakers of $ARX, incentivizing liquidity providers to offer the necessary depth of liquidity to ensure the best prices for all users.

In summary, Arbitrum Exchange provides a low-fee decentralized exchange for trading a wide range of coin pairs while allowing users to maintain full control over their funds. The platform incentivizes liquidity providers through the distribution of trading fees and $ARX reward, ensuring users receive the best possible prices on their trades, and earn 100% of the fees back.
