Slippage
Juga dikenal sebagai: Price Slippage, Trade Slippage
The difference between the expected price of a trade and the actual execution price, typically caused by low liquidity or large order sizes.
Slippage occurs when a trade executes at a different price than expected. In crypto markets, this is common on decentralized exchanges where liquidity can be thin, and on centralized exchanges during volatile periods when prices move rapidly.
Types of Slippage:
- Positive Slippage: Trade executes at a better price than expected (rare, favorable)
- Negative Slippage: Trade executes at a worse price than expected (common, costly)
What Causes Slippage: - Low Liquidity: Insufficient tokens in the pool to fill the order at the quoted price - Large Orders: Big trades that consume multiple price levels in the order book or shift AMM ratios significantly - Market Volatility: Rapid price changes between when the trade is submitted and when it executes - Network Congestion: Delayed transaction confirmation allows prices to change
Slippage on AMM DEXs:
On AMMs like Uniswap, slippage is mathematically predictable. The constant product formula means larger trades relative to pool size cause more price impact:
| Trade Size vs. Pool | Expected Slippage |
|---|---|
| 0.1% of pool | ~0.1% |
| 1% of pool | ~1% |
| 10% of pool | ~10% |
Slippage Tolerance Settings: Most DEX interfaces let users set a maximum slippage tolerance (e.g., 0.5%). If the price moves beyond this threshold, the transaction automatically reverts. Setting tolerance too low may cause failed transactions; setting it too high risks front-running attacks.
How to Minimize Slippage: - Trade on pools or exchanges with deep liquidity - Break large orders into smaller chunks - Use limit orders instead of market orders - Use DEX aggregators that route across multiple pools - Avoid trading during extreme volatility
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