What is Slippage?
The difference between the price you expected and the price you actually got.
Slippage occurs when an order is larger than the resting liquidity at the best price and has to consume worse levels, or when the market moves between decision and execution.
It is the main reason a backtest that assumes perfect fills overstates real-world results.
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This definition is part of the Bitcoin Logical glossary. For the fuller explanation, start with Learn, or see the live numbers on The Bitcoin Signal.