Set a price limit before you deposit, and check that the refund address and retry window are correct. That gives the swap time to meet your limit; if it cannot, the funds are returned to the address you specified, less applicable fees.
What can slippage protection prevent?
Slippage protection stops a swap from executing at a price worse than the limit you set. It matters because the quote is an estimate: pool liquidity and the market price can change between the quote and execution.
When assets move between chains, the Chainflip protocol executes the swap through its liquidity pools. The price available when the swap executes may differ from the quoted price, especially for a large trade or a pool with limited liquidity. Protection sets a boundary for that execution.
It cannot guarantee the quoted output, freeze the market, or cover every cost. In particular, price protection applies at the swap level; deposit costs and the destination chain’s transfer fee can affect what arrives separately.
Which price limit should you set?
There are two common controls: a minimum accepted price and maximum oracle price slippage. A minimum price specifies the worst exchange rate you will accept. Oracle slippage sets the maximum permitted deviation from the protocol’s reference price, where that option is supported for the asset.
One basis point (bps) is 0.01%. For example, a 50 bps oracle limit allows a deviation of up to 0.50% from the oracle price. A minimum price is expressed as a rate; oracle slippage is expressed as a percentage deviation. Use the control your swap app offers, and check what it measures before entering a value.
Neither setting is the same as the gap between the quote and your final wallet balance. Network and broker fees are applied outside the pool’s price calculation, so the final amount can be lower even when the swap stays within its slippage limit. Compare the quoted output and fee breakdown, not just the percentage setting.
How should you choose a tolerance and retry window?
Start with the recommendation shown alongside your quote if the app provides one. A tighter limit gives you stronger price protection but makes a refund more likely; a wider limit makes execution easier but accepts a worse price. The right tolerance depends on the asset, the trade size, and available liquidity.
Say you are swapping a small amount of ETH for BTC and the quote estimates 0.01 BTC. If you would reject an output more than 0.5% below the applicable reference price, a 50 bps limit expresses that boundary. It does not promise 0.00995 BTC: fees, pool pricing, and the precise reference used by the app also matter.
The retry window is the period, measured in blocks, during which the swap can try to meet your protection settings. A longer window gives conditions more time to meet your limit, but delays a refund if they do not. If the app supplies a recommended window, use it unless you have a specific reason to wait longer or need the funds back sooner.
What should you check before depositing?
Verify the source and destination assets, the destination address, and the refund address. The destination address receives the swapped asset; the refund address receives the source asset if the swap does not execute within its retry window. Check that each address belongs to the right chain and that you control it.
Then review the minimum price or slippage limit, retry duration, estimated output, and any listed fees. After you request a deposit address, send only the quoted asset and amount to that address, and use a fresh deposit channel for each swap. Chainflip deposit channels expire, so sending to an old address can leave the deposit outside the intended swap.
If the limit is missed for the full retry window, the swap is refunded to your specified refund address; the refund can still incur a fee, and a boost fee may not be returned. Check the swap status before trying again. Choose a tighter limit when price protection matters more than execution, and a wider one only when you accept the additional price risk.