> For the complete documentation index, see [llms.txt](https://dyorhq.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://dyorhq.gitbook.io/docs/spot-trading/slippage-and-price-impact.md).
# Slippage & Price Impact
Two different things protect you on a swap. **Slippage tolerance** is your limit; **price impact** is a measurement.
## Slippage tolerance
Slippage is how far the price may move between your quote and settlement. If a swap would fill worse than your tolerance allows, it **cancels instead of filling worse**. The **Minimum received** row on every confirmation is your quote minus the tolerance.
**Default: 0.5%.** Tap the slippage button (top right of the Swap screen) to change it
| Preset | The app's hint |
| ------ | ----------------------------------------- |
| 0.1% | Tightest price. Best for stable pairs. |
| 0.5% | Balanced, recommended for most swaps. |
| 1% | More forgiving when the market is moving. |
| 3% | For volatile or low-liquidity pairs. |
| Custom | Any value above 0 up to 50%. |
Warnings: at 5% or more the sheet says a high tolerance can fill at a much worse price; at 0.1% or less it warns a swap can fail in a fast-moving market.
Once a quote is selected, the line under the quote list reads: *"Minimum received X QT at Y% slippage. Quotes refresh every 15 seconds."*
{% hint style="info" %}
The Swap slippage setting is separate from **Profile → Trading Preferences → Max Slippage**, which is the default for perps market orders (0.1% / 0.5% / 1% / 2%). Both start at 0.5%.
{% endhint %}
## Price impact
Price impact is how much your own trade moves the venue's price. DyorHQ measures it against the venue's marginal price by quoting a tiny slice of your amount and comparing. Each Uniswap and Monday quote shows **Impact X%**; Kuru Flow does not report impact.
When impact is above **1%**, the figure is highlighted in the attention colour. The app never blocks a high-impact swap; it's your call. Large trades in thin pools are where a different venue, a smaller size, or a two-step route pays off.
## Approvals and Permit2
* ERC-20 inputs are approved for the exact amount you're swapping, and the swap uses that approval up, so most ERC-20 swaps start with an approval step. The confirmation lists each approval as its own step. A step is skipped only when an existing allowance already covers the amount. An older unlimited allowance is replaced with an exact one, not reused.
* Uniswap v4 uses **Permit2**. The app approves exactly the input amount to Permit2, then sets a Permit2 allowance to the Universal Router for that amount, which expires two minutes after it's set.
* Kuru Flow, Uniswap v3 and Monday Trade get exact-amount approvals too.
## Why a quote can change
Quotes are re-fetched every 15 seconds while an amount is entered. If the market moves between your review and your tap, the slippage floor is what protects you. The route and venue you chose stay fixed once you tap Swap.
---
# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.
## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.
Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:
```
GET https://dyorhq.gitbook.io/docs/spot-trading/slippage-and-price-impact.md?ask=&goal=
```
`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.
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.
