Price impact refers to the price change in market when a trader buys or sells an asset. The price impact is directly correlated with the amount of liquidity and order book pricing sourced via private market makers or JAM solver auction winner. Price impact can be especially high for illiquid token pairs with low liquidity, thus potentially causing traders to lose a significant portion of their funds.

On Bebop, a warning message will be displayed if there is a significant negative price impact for your trade.

Price slippage refers to final execution price of a trade, differing from the expected price shown before trade was executed. Price slippage is usually caused by external broad market movements, and usually happens when executing large volume trades.

On Bebop, trades executed via RFQ orders will not have any slippage. Instead, trades executed via JAM solvers will have slippage for better price execution, with maximum slippage usually set at 0.2%.

On Bebop, you can see the maximum slippage set for your trade at trade details, or you can take control and manually adjust the maximum slippage for your token trades.