> ## Documentation Index
> Fetch the complete documentation index at: https://docs.l2pass.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Slippage, Fixed Output and Minimum Received Explained

> What slippage tolerance, expected output, minimum received and fixed output mean in L2Pass Swap, with examples. Default slippage is 0.05%, editable.

In [L2Pass Swap](https://swap.l2pass.com/), every route card shows an expected output and a minimum received. The expected output is the estimated amount you will receive, already including all fees. The minimum received is the worst case within your slippage tolerance, which is 0.05% by default and can be changed on any route card. If the price moves beyond it, the swap does not execute. Fixed-output routes, such as Circle CCTP, USDT0, Aori and LI.FI Intents, deliver the exact amount shown, so slippage does not apply to them.

## Key terms

| Term | Meaning |
| :- | :- |
| Expected output | The estimated amount on the destination network, after all fees |
| Minimum received | The least you can receive within your slippage tolerance |
| Slippage | The difference between the quoted price and the final execution price, caused by market movement |
| Slippage tolerance | How much slippage you accept. Default 0.05% in L2Pass Swap |
| Price impact | The change in price caused by the size of your trade relative to available liquidity |
| Fixed output | A route that delivers exactly the amount shown, with no slippage |

## Examples from live quotes

Test quotes on October 19, 2026, with the default 0.05% tolerance. The live quote shows current numbers.

| Swap | Route | Expected output | Minimum received | Output |
| :- | :- | :- | :- | :- |
| 1,000 USDT, Tron to Ethereum | L2Pass RFQ | 999.50 USDT | 999.00 USDT | Variable |
| 1,000 USDC, Arbitrum to Base | USDC native bridge, Fast | 999.81 USDC | 999.81 USDC | Fixed |
| 1 ETH on Ethereum to USDC on Base | L2Pass RFQ | 2,387.76 USDC | 2,386.57 USDC | Variable |

On a variable route, the minimum received is the expected output minus your tolerance. On a fixed route, both numbers are the same.

## How to set slippage

**1. Open the route card**

Request a quote on [swap.l2pass.com](https://swap.l2pass.com/) and open the route you want.

**2. Change the tolerance**

Edit the slippage tolerance on the route card. A higher tolerance makes a volatile swap more likely to execute but lowers the minimum received.

**3. Check the minimum received**

Confirm only if you are fine with receiving the minimum received in the worst case.

## How to choose a tolerance

* **Stablecoin to stablecoin.** Prices barely move, so the default 0.05% is usually enough.
* **Volatile assets, such as ETH or BTC.** Prices can move while a swap settles, especially on slower routes. If a swap keeps failing on price, a slightly higher tolerance can help.
* **Fixed-output routes.** Tolerance does not matter: you get the exact amount shown.

## Things to know

* **No partial fills.** If the price moves beyond your tolerance, the swap does not execute at all.
* **Refunds.** A failed on-chain route reverts (gas is not refundable). A failed deposit-address route returns your deposit to the refund address; provider and network fees may be deducted.
* **Slippage is not a fee.** It is a limit on price movement. Fees are shown separately on the route card and are already included in the expected output.

## FAQ

> **What is the default slippage in L2Pass Swap?**
>
> 0.05%. You can change it on any route card.

> **What does minimum received mean?**
>
> The least you will receive if the price moves against you within your slippage tolerance. If it would be less, the swap does not execute.

> **Which routes have a fixed output?**
>
> The USDC native bridge (Circle CCTP, Fast and Standard), the USDT native bridge (USDT0), Aori and LI.FI Intents. They deliver exactly the amount shown.

> **Does L2Pass Swap set slippage automatically?**
>
> No. The tolerance is 0.05% by default, and you can change it yourself on any route card.

## Links

* [Open L2Pass Swap](https://swap.l2pass.com/)
* [How L2Pass compares routes](/products/swap/learn/compare-routes)
* [What happens if a swap fails](/products/swap/learn/failed-swaps-and-refunds)
* [L2Pass Swap fees explained](/products/swap/learn/fees)
* [L2Pass Swap FAQ](/products/swap/faq)

*Last updated: October 19, 2026*


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