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When you place a trade on TrueCurrent, you set a slippage tolerance — from which a worst-case price you’re willing to accept is derived. TrueCurrent will never execute your trade at a price less favorable than this limit.
On a traditional order book, slippage describes a large order walking through multiple price levels as it consumes liquidity. RFQ works differently: makers quote a single firm price for your exact size, so there is no book to walk. Your slippage tolerance on TrueCurrent sets a hard price ceiling (for longs) or floor (for shorts) that any maker must beat to win your trade — think of it as your worst acceptable price, not a slippage allowance.

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How it works

Before confirming a trade, you’ll see an estimated price based on current market conditions. You also set a worst price: the highest price you will pay when going long, or the lowest price you will accept when going short. TrueCurrent automatically looks for the best available price from liquidity providers. If none can meet your worst price, the trade is rejected, your margin is returned, and you can try again.
  • For a long position: your worst price is the highest you’re willing to pay
  • For a short position: your worst price is the lowest you’re willing to accept

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How to use it

Slippage tolerance controls how far from the current index price your worst acceptable fill can be. Your worst_price is derived from the index price at the moment you submit the trade, plus or minus your tolerance percentage. You set it each time you open or close a position. It then acts as a hard, onchain-enforced limit.
  • Default: 0.5% is applied automatically when you open the trade form.
  • Normal conditions: 0.5% is appropriate for most markets and sizes. It gives enough room for minor price movement between quote and execution without exposing you to large adverse fills.
  • Volatile markets: You may widen slightly if prices are moving fast and your orders are failing. A wider tolerance improves your chance of filling but raises the worst-case price you could receive.
  • Where to set it: In the trade form, adjust the slippage tolerance field before clicking trade.
See Price tolerance for where it appears in the full trading workflow.

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What happens if your order can’t fill?

If no liquidity provider can beat your worst price, the order is cancelled and your margin is not debited. Prices update continuously – you can re-submit immediately. Setting too tight a slippage tolerance increases the chance of non-fills. Setting it wider gives you a better fill rate but with a less favorable worst-case price.

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Your worst price is always enforced

The trade is executed automatically by TrueCurrent – you don’t review the final price before it goes through. But your worst price limit is enforced onchain. The trade can never settle at a price worse than what you specified.
Last modified on June 8, 2026