> For the complete documentation index, see [llms.txt](https://docs.usdfi.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usdfi.com/usdfi-amm/understanding-automated-market-makers/how-to-execute-a-token-swap/price-impact-vs-slippage.md).

# Price Impact vs Slippage

**Price Impact** and **Price Slippage** are two terms commonly used into describe the outcome of a change in price when swapping cryptocurrency. While the terms are often used interchangeably, it is important to note that they *refer to different concepts*.

**Price Impact** refers to the change in token price directly caused by a specific trade. It is reflected as the difference between the current market price and the impact of the trade on the total liquidity in a pool.

**Price Slippage**, on the other hand, refers to the change in token price caused by the overall movement of the market. It is reflected as the difference between the expected price after a swap and the actual price received after the swap is completed.


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