What is Slippage?
Slippage refers to the difference between the expected price of a trade and the actual price at which the trade is executed. This occurs due to price fluctuations in the market while your trade is being processed.
On Comet, you can adjust your slippage tolerance to control how much price variation you are willing to accept when executing a trade.
How to Adjust Slippage Settings in Comet
You can access and modify your slippage settings in two ways:
Through the Settings Menu
Open the Comet app.
Navigate to the Holdings page.
Tap the settings icon in the top right corner.
Select Set Slippage to adjust your slippage tolerance.
Through the Buy/Sell Screen
When executing a trade, tap the settings icon in the top left of the buy or sell drawer.
Adjust your slippage tolerance as needed.
⚠️ Warning: Enabling Unlimited Slippage means your order will be filled at any available price, which may result in an unfavourable execution price.
When Should You Adjust Slippage?
Different market conditions may require adjustments to your slippage tolerance:
Low Slippage Tolerance (Tighter Control): If you prefer precise execution at a specific price, keeping slippage low ensures minimal price variation. However, this may result in failed transactions if prices fluctuate too much before execution.
Higher Slippage Tolerance (Faster Execution): When trading volatile tokens or during high market activity, setting a higher slippage tolerance helps ensure your trade goes through. However, this means you may receive a slightly different price than expected.
Unlimited Slippage (Caution Required): If enabled, your trade will execute at any available price. This is only recommended for specific use cases where price execution is more critical than price accuracy.
What’s Next?
Adjusting your slippage settings effectively ensures a better trading experience on Comet. Always consider market conditions before making changes! 🚀
