# Understanding Slippage ### What Is Slippage? Slippage happens when the price you expect to trade at is different from the price you actually get.\ It occurs because crypto markets move fast (especially during high volatility) and your trade might fill at a slightly higher or lower price than you intended. If you’ve ever clicked “Market Buy,” expected a price of $40,000, and got filled at $40,050, you’ve experienced slippage. ### Why Slippage Happens There are three main causes: #### 1. Market Volatility When prices move quickly, the orderbook changes between the time you submit an order and when it executes. #### 2. Low Liquidity If there aren’t enough orders on the book at your desired price, your trade consumes the next available price levels. #### 3. Large Order Sizes Big orders may fill across several orderbook levels, causing the average fill price to deviate from the expected one. ### Positive vs Negative Slippage * **Positive Slippage:** You get a *better* price than expected (rare but possible). * **Negative Slippage:** You get a *worse* price than expected. ### How Supercexy Helps Minimize Slippage Supercexy provides many tools to reduce slippage: * Limit Orders (your trade executes at *your* price) * Chase Limit (keeps your limit order at the top of the book) * TWAP (executes over time to reduce impact) * Conditional Orders with Limit execution * Clear visibility into orderbook depth ### Common Misconceptions “Slippage is a fee.”\ No, it’s not a fee. It’s simply a difference in market price due to availability and speed. “Only retail traders suffer slippage.”\ Actually, whales and institutionals face more risks; the bigger the order, the more likely it crosses price levels. ### How to Avoid Slippage as a Trader * Use limit orders whenever possible * Avoid trading during huge news events * Check orderbook depth before placing large trades * Use TWAP for big buys or sells * Monitor spreads (wide spreads increase slippage) Understanding slippage helps you protect your capital and execute trades more accurately. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://supercexy.gitbook.io/supercexy-docs/knowledge-base/understanding-slippage.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.