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Anyone can exchange tokens on the Radix network for another by using Ociswap's platform. In the process, Ociswap optimally routes funds across the various available liquidity pools to offer users the best price and return rate.
When you make a swap on Ociswap, you'll pay a trading fee. This fee varies depending on which pool you're using, but it's typically between 0.01% and 1%. On top of that, there's a small XRD gas fee on the Radix network to cover the costs of processing the transaction.
Price impact is the gap between the current market price and the expected trade price. It mainly depends on the users trade size compared to the pool's liquidity. As more tokens are bought from the pool, the token's price goes up, resulting in an adverse price change known as price impact.
Slippage is the difference between the expected price of a trade and the actual price at which the trade is executed. It often occurs in situations of high market volatility or low liquidity when there is a mismatch between the expected price and the price at the time of execution.
Slippage can result in trades being filled at prices less favorable than initially anticipated. By setting the slippage tolerance, traders define the acceptable range within which they are willing to execute a trade.