Slippage
Difference between the intended execution price and the actual filled price.
Slippage is what separates backtested returns from live returns. When you place a market buy, your order walks the order book and fills at progressively higher prices. Our /slippage board walks the live order book to show what a market order of a given size costs right now, and the /tools/funding-arb-calc calculator subtracts a slippage allowance per rebalance, because a strategy that ignores it can look profitable on paper and lose money in practice.
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