Module 3 — Liquidity and slippage
Estimate how much your own order moves the price before you place it, on an order book and in an AMM pool.
Free course · Beginner → Intermediate · 22 min
Module 3 — Liquidity and slippage
Estimate how much your own order moves the price before you place it, on an order book and in an AMM pool.
Lesson 1 of 2 · 11 min
OBJECTIVE
Depth and price impact
Liquidity is how much can be bought or sold near the current price. The bigger your order compared with that liquidity, the more you move the price against yourself.
LEARNING VISUAL
Learning diagram: Depth and price impact
Concrete example
Asks: 1,000 tokens at 1.00, 1,000 at 1.05 and 1,000 at 1.10. Buying 3,000 at market costs 3,150, an average of 1.05: 5% above the first price shown.
Practical checklist
- Compare your order size with visible depth
- Compute the average fill price
- Reduce or split the size if impact is too high
Mini quiz
In the example, why is the average price 1.05?
Answer the mini quiz correctly to validate this lesson and continue.
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