The invention provides a method, system, and program product for optimizing data exchange in a peer-to-peer network (PTPN). In one embodiment, the invention provides a method of optimizing real-time data exchange in a peer-to-peer network (PTPN), the method comprising: receiving, from each peer in the PTPN: an upload limit of the peer; a download limit of the peer; and a delay to each other peer in the PTPN; determining, for each peer in the PTPN: a rate at which data may be transferred to at least one other peer in the PTPN (transfer rate); and a rate at which data may be received from at least one other peer in the PTPN (receive rate); and instructing each peer in the PTPN to: transfer data to at least one other peer in the PTPN at the transfer rate; and receive data from at least one other peer in the PTPN at the receive rate.