What is slippage and why does it matter?

Slippage is the difference between the expected price of a trade and the actual price at which the order executes.

It occurs when liquidity at a specific price level is not deep enough to fill the full order.

Example:

If you expect to buy at 0.5221 but the average execution price becomes 0.5229, the slippage is 0.0008.

Cleo shows slippage transparently so traders understand how liquidity and order size affect execution.