Where does the value leak on a swap?
Every trade loses a little between the price you see and the tokens that land in your wallet. Veltrion strips one swap down to its cost waterfall — gross value, price impact, routing fees, gas — then runs the same order at four slippage tolerances so you can read exactly how much you're leaving on the table.
Reading the waterfall
The steel bar on the left is gross value at the mid price — what your input is worth before anything happens. Each amber step is a deduction: price impact (from Jupiter's quote), routing & pool fees (what's left after impact and output are accounted for), and the two gas components. The steel bar on the right is what actually survives to your wallet.
What slippage really buys
Slippage tolerance isn't a fee — it's a floor. Set it to 1% and you authorise the trade to fill anywhere down to 1% below the quote; the gap between the quote and that floor is value you've agreed to risk. Loosen it and your order fills more reliably in fast markets, but the floor you'd accept drops with it.