Slippage
Liquidity & market depthThe difference between the quoted price and the executed price on a trade, driven by depth, volatility and routing.
Slippage is the cost of consuming liquidity. On a stablecoin swap it is usually a few basis points; in stressed markets on a thin chain it can dwarf any yield the position earned all year.
Because stablecoin returns are measured in basis points, execution cost is a first-order concern, not a rounding error. A 30bp round trip erases three months of a 1.2% spread.
Why it matters
Any yield or spread comparison is only real after execution and bridging costs are subtracted.
See it in action
Related terms
The size you can trade before moving the price. On USD.NET this is indexed on-chain DEX pool depth containing the asset; centralised order books are not included.
What you actually keep: gross APY minus gas, bridging, swap slippage, protocol fees and any withholding — over your real holding period.