Slippage is the difference between the price shown when starting a swap and the price received when the swap completes. This happens when token prices change during the short window between quote and confirmation.
Phantom sets slippage to Auto by default, which adjusts based on real-time conditions. This helps balance successful execution with price protection during swaps.
If slippage tolerance is too low, a swap may fail before completing. If it is set too high, the swap may succeed but at a worse price than expected.
How to adjust slippage in Phantom
- During a swap, select the Settings icon in the upper right.
- Select Slippage, then choose a value: 0.5%, 1%, 2%, or a custom value between 0.1% and 30%.
- Confirm the change.
Your swap will now use the selected slippage tolerance.
When to use a custom value
You may want to adjust the default slippage setting in certain situations:
- Swap keeps failing: Try increasing to 0.5% or higher, especially for meme coins or low-liquidity tokens.
- Network is stable: Auto usually works best.