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Slippage
Slippage is the difference between the price you were quoted for a trade and the price you actually get, caused by the market moving while your transaction waits to be confirmed. On a DEX you set a slippage tolerance: the most you will accept.
What it means for you. If the price moves past your tolerance, the swap fails, and on many chains you still pay the network fee. A high tolerance lets the swap go through at a much worse price, and bots can exploit a loose setting. Check the minimum amount you will receive before you confirm.
Source: Uniswap docs: Swaps · checked 4 October 2026
Price impact
Price impact is how much your own trade moves the price. On an automated market maker, each unit you buy or sell shifts the pool's balance, so a larger trade gets a worse average price. The more liquidity a pool has, the smaller the impact of a given trade.
What it means for you. Price impact is a cost you cause, separate from fees and from slippage. A high figure on a swap screen means you would sell a meaningful share of the pool and receive much less than the quoted price. Splitting the amount does not remove it if the pool stays thin.
Sources: Uniswap docs: Swaps, Uniswap docs: How Uniswap works · checked 4 October 2026