> For the complete documentation index, see [llms.txt](https://myxfinance.gitbook.io/myx.finance-v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://myxfinance.gitbook.io/myx.finance-v2/trader-guide/trading-rules/trading-costs/slippage-and-execution-price.md).

# Slippage & Execution Price

### Slippage & Execution Price

On MYX V2, execution price is determined by a rule-based slippage model rather than a traditional orderbook.

The model is designed to reflect the **real tradability of the underlying asset**:

* deep markets should allow more size before price impact appears
* thinner or more easily manipulated markets should start charging slippage earlier
* once a market becomes one-sided, additional size should become progressively more expensive

At the center of this model are **two execution parameters**:

* **A** — the amount of net one-sided exposure the market can absorb without slippage
* **s** — the slippage curve parameter, which controls how quickly slippage rises once exposure exceeds A

These parameters are set according to the market’s **liquidity rating**, which is maintained through the protocol’s risk framework.

***

### The Two Core Slippage Parameters

#### A — Slippage-Free Amount

`A` is the market’s no-slippage capacity.

It tells you how much additional **net long or net short exposure** the market can absorb before slippage starts.

A larger `A` means:

* more size can trade at the reference price
* the market behaves like a deeper venue

A smaller `A` means:

* slippage starts sooner
* the market is treated as thinner or more fragile

***

#### s — Slippage Curvature

`s` controls how aggressively execution price moves **after** the market goes beyond the no-slippage amount.

Once the excess portion of an order goes beyond `A`:

* a smaller `s` produces a gentler curve
* a larger `s` produces a steeper curve

So while `A` tells you **when slippage starts**,\
`s` tells you **how quickly it gets worse** once it starts.

***

### What Determines These Parameters?

MYX uses a rating system to classify markets by depth, resilience, and manipulation risk.

That rating determines:

* **A** (no-slippage capacity)
* **s** (curve steepness)
* **time window**
* **price window**
* as well as other trading and risk parameters such as leverage and margin

You do not need to calculate these yourself.\
The protocol translates market quality into execution rules.

***

### Time Window and Price Window

Slippage is not measured against all historical trades forever.

Instead, MYX evaluates net one-sided pressure within a **current execution context**, defined by:

* a **time window**
* a **price window**

That context is refreshed whenever:

* the current time window expires, or
* price moves outside the allowed price window

This keeps slippage tied to **recent, relevant market pressure**, rather than stale flow from a different market regime.

A tighter time or price window means the market context resets faster.\
A wider window means recent imbalance continues to matter for longer.

***

### Current Slippage Parameters by Tier

The table below shows the slippage-relevant parameters from the current rating framework.

| Tier | A (No-Slippage Capacity) | s (Curve Parameter) | Time Window | Price Window |
| ---- | ------------------------ | ------------------- | ----------- | ------------ |
| A    | 300,000 U                | 0.000200%           | 0 H         | ±0.8%        |
| B    | 150,000 U                | 0.000500%           | 0 H         | ±2%          |
| C    | 50,000 U                 | 0.001000%           | 0 H         | ±4%          |
| D    | 30,000 U                 | 0.001000%           | 4 H         | ±4%          |
| E    | 10,000 U                 | 0.001000%           | 4 H         | ±5%          |
| F    | 5,000 U                  | 0.003000%           | 4 H         | ±8%          |
| G    | 3,000 U                  | 0.0100%             | 8 H         | ±10%         |
| H    | 2,000 U                  | 0.0100%             | 8 H         | ±12%         |
| I    | 1,000 U                  | 0.0100%             | 12 H        | ±15%         |
| J    | 500 U                    | 0.0100%             | 12 H        | ±20%         |
| K    | 300 U                    | 0.0100%             | 12 H        | ±30%         |
| L    | 200 U                    | 0.0102%             | 12 H        | ±40%         |
| M    | 100 U                    | 0.10%               | 12 H        | ±50%         |
| N    | 80 U                     | 0.1%                | 12 H        | ±60%         |
| O    | 50 U                     | 0.0102%             | 12 H        | ±70%         |
| P    | 10 U                     | 0.027%              | 12 H        | ±80%         |