Slippage
Difference between expected and realised execution price — caused by pool depth + competing fills.
On stablecoin / stablecoin pairs, mainnet 3pool slippage at $1M trades is typically <1bp; at $50M it can exceed 10bp depending on pool composition. Slippage is the practical floor on what large allocators can deploy without moving the market.
Related terms
- AMM (automated market maker)A smart contract that prices assets via a pricing curve over a pool of reserves rather than an order book.
- Liquidity poolA pool of token reserves that a smart contract uses to facilitate swaps, lending, or other on-chain activity.
- Exit liquidityHow much capital can leave a position at a defined slippage tolerance over a defined window.