Slippage is part of real cost, not a separate problem
If you enter and exit with market orders or move size through thinner books, execution quality can matter as much as the visible fee rate.
This is especially important for active users who trade frequently enough that small execution differences accumulate.
- High-frequency users feel slippage more often.
- Thin books can turn a low-fee venue into a more expensive real outcome.
- Execution style should shape which exchanges you compare.