the state of being slighty intoxicated; tipsy
"dude, i'm swapped" "she was only swapped, not drunk"
by Rae January 22, 2005
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An attempt during vaginal intercourse for one bro to secretly switch with another between thrusts. Thus the women has little to no idea that she is being railed by a different man.
"Catherine said you pounded her for over an hour last night! How did you do it?"

"Oh, my bro and I pulled a swap-in."

"Craig was doing this chick froggy style but starting passing out. Jon, unselfishly, swapped-in for him."
by swappers December 03, 2011
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To trade something for something else whether it be another object, money or something else. Also see swap meet.
"I'll swap you these two pistols for one of those uzis."

"Swap me that gold watch for this gold chain."
by IceWarm November 21, 2004
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Among a group of two or more couples, to swap means to trade partners for the explicit purpose of engaging in sexual relations with a different partner. See also group sex and orgy.
"Mary has always been flirting with my husband Jim. Because I have always fancied her husband Bob, I asked her if she wanted to come over and have a swap."
by IM2 April 04, 2006
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(FINANCE) a type of financial derivative which two parties "swap," or exchange, the streams of income (or payments) from two different sources. The actual instrument is created by a third party, such as an investment bank.

The most familiar version of the swap is the interest rate swap, in which the holder of a fixed rate loan and the holder of an adjustable rate loan agree to exchange revenue streams.

The variety of swaps available is massively greater than with options or futures; essentially, swaps exist for every arbitrage opportunity that any combination of markets provides; the market for swaps is huge.
BILL: Why do firms buy swaps? Why don't they just sell the loans they have to other banks, or whatever?

ANNA: One is that swaps are a method of hedging risk; you hold the bond in case the price goes up, but you buy interest rate swaps to protect against having average rates in your portfolio that are two high or two low.
by Abu Yahya April 05, 2010
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