the.com/slippage

the gap between the price you saw and the price you got, courtesy of time itself.

means the difference between a trade's expected price and the price it actually executes at, usually because the market moved while your order was in flight.

from finance borrowed it from mechanical engineering, where slippage meant a gear or belt losing traction and failing to transmit motion cleanly, an apt metaphor for orders losing their grip on the quoted price.

for instance

flash crash 2010dow dropped 1000 points in minutes, orders filled far from quotes

gme squeeze 2021retail buyers saw fills wildly above displayed prices

uniswap swapslow liquidity pools routinely show 5%+ slippage warnings

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