Slippage and price impact

Two numbers decide whether a trade fills at a fair price: slippage and price impact. Slippage is how far the price may move against you between the quote and the moment your trade lands; if it moves further, the trade is cancelled instead of filling badly. Price impact is how much your own trade moves the price because the pool is small compared to your order. Manna sets sensible slippage for you, lets you override it per trade or as a default, and warns you (or asks you to confirm) when impact is high. This page also explains how trades are sent to the network.

Slippage in plain words#

When you open a buy sheet, Manna shows You get ≈ a number of tokens. That's a quote at this moment. By the time your transaction reaches a block, other trades may have moved the price. Your slippage sets the worst result you accept.

minimum you accept = quoted amount × (1 − slippage)

Example: the quote says you get 1,000,000 tokens and slippage is 3%. The trade sets a minimum of 970,000 tokens. If the price moves so that you'd get 960,000, the trade fails on-chain and you keep your money (you only pay the network fee). The app tells you "The price moved too fast. Try again."

Tight slippage protects your price but fails more often on fast-moving coins. Loose slippage fills more often but can fill at a worse price.

Set your slippage#

Every buy and sell sheet has a slippage button next to the impact figure. It reads Slippage Auto until you change it.

1. 1Tap Slippage Auto ▾ to open the picker.
2. 2Pick a preset: Auto, 0.5%, 1%, 2%, 5% or 10%.
3. 3Or type a number in Custom (in percent). Manna accepts 0.1% to 50%; anything outside that range is ignored.
4. 4The line under the picker tells you what applies: "Your default (also used by the Telegram bot)" or "Just this trade · default Auto".
5. 5To keep your choice for every trade, tap Make default. You'll see "Slippage X saved: Used on mannas.fun and in the bot".

A pick without Make default applies only to the trade in this sheet. Your saved default is shared with the Telegram bot, and also applies to your orders and copy trades.

Auto slippage per venue#

With Auto, each route uses its own safe default. Bonding curves and fresh pools move fast in their first minutes, so they get more room; deep pools and aggregators get less.

Price impact#

Price impact measures what the pool's size costs you, separate from Manna's fee. Manna works it out from the quote:

impact % = (1 − value you get ÷ value you pay) × 100 − fee %

Both values are at today's prices. The fee is Manna's 1%; on a Manna coin page it also includes the coin's creator fee. Impact isn't shown on a Manna coin while its sniper shield is up, because the shield fee is shown separately.

The high-impact gate#

When a trade would move the price 10% or more against you, Slide to buy is replaced with a red box: "This buy moves the price about 12% against you: the pool is thin for this size. Try a smaller amount, or go ahead knowingly." Below it is a button: Buy anyway · 12% impact (or Sell anyway on a sell).

• Tapping it accepts the impact for that exact amount only. The slide then appears and you still confirm the trade.
• Change the amount and Manna checks again; a new high-impact amount asks again.
• A ⚡ quick buy stops at the same gate. It only goes ahead once you tap the button.

Slippage versus impact#

They answer different questions. Impact is known before you trade: it's the price move your own order causes, already in the You get ≈ number. Slippage is the extra move from other traders you're willing to accept on top of that while the transaction is in flight.

Worked examples#

A deep pool. You buy $100 of a large token. The quote's value at today's price is $98.80. Impact = (1 − 98.80 ÷ 100) × 100 − 1 = 0.2%. Shown in grey. With Auto slippage through Jupiter (3%), the trade accepts anything down to 3% fewer tokens than quoted.

A thin pool. You buy $500 of a small token. The tokens you'd get are worth $455. Impact = (1 − 455 ÷ 500) × 100 − 1 = 8%. Shown in amber with a ⚠. You can trade, but you might buy $250 twice instead.

Too thin. You buy $2,000 of the same token. The tokens are worth $1,700. Impact = 15 − 1 = 14%. The slide is replaced with Buy anyway · 14% impact. If you tap it and then slide, the buy goes ahead at that impact.

Priority fees and confirmation#

How a trade is sent matters as much as its price on a busy chain.

Solana#

• Priority fee. Trades Manna builds directly (pump.fun, PumpSwap, Meteora, Raydium) carry a priority fee so they land in the next blocks even when a coin is busy, capped so it never exceeds 0.001 SOL per transaction. Jupiter routes ask Jupiter for a very high priority level, with the same 0.001 SOL cap. When cash moves through Relay from Solana, Manna adds a small priority fee to that transaction too (about 0.00003 SOL).
• Sent everywhere at once. One-tap and bot trades are sent to every RPC node Manna uses at the same time; the first to accept wins. The transaction has one signature, so it can only land once however many copies go out.
• Re-sent while young. While waiting, Manna sends fresh copies every second, then every two seconds after the first ten seconds.
• Confirmation. Manna checks the status several times a second and shows the trade as done the moment it confirms. If the transaction's blockhash expires and the network never saw it, Manna says so: "The network dropped this transaction (its blockhash expired), so nothing was spent." After 90 seconds without an answer you'll see "Transaction not confirmed in time. It may still land; check the explorer."
• No pre-send simulation. Like other trading bots, Manna skips the simulation step to save time. A trade that would fail shows its error while confirming.

EVM chains#

• Gas is estimated for each transaction with 30% headroom. On Robinhood Chain the headroom is 50% plus a fixed amount, because gas there also pays for posting data to Ethereum.
• Network fees use the chain's own current estimate.
• If you place several trades on one chain at once, they go out one after another in order, so none of them collide.

Common messages#

Related#

• Trading on Manna
• One-tap trading and universal cash
• Orders
• Sniper shield
• Troubleshooting