Slippage Protection

Overview

The slippage protection detector identifies token swap operations that lack minimum output amount validation. Swaps without proper slippage bounds can result in significant value loss due to frontrunning, sandwich attacks, or market volatility.

For remediation guidance, see Slippage Protection Remediation.

Why This Is an Issue

Token swaps on Solana DEXes execute at the current market price. Without a minimum output amount, the actual received amount can differ drastically from the expected amount. Attackers exploit this through sandwich attacks: they move the price before the victim’s swap, let the victim execute at the worse price, then reverse their position. Hardcoded slippage values above 5% are also flagged as overly permissive.

How to Resolve

Before (Vulnerable)

// Vulnerable: swap without minimum output
pub fn swap(ctx: Context<Swap>, amount_in: u64) -> Result<()> {
    let output = execute_swap(&ctx.accounts.pool, amount_in)?;
    token::transfer(ctx.accounts.into_ctx(), output)?;
    Ok(())
}

After (Fixed)

// Fixed: user-supplied minimum output
pub fn swap(ctx: Context<Swap>, amount_in: u64, min_amount_out: u64) -> Result<()> {
    let output = execute_swap(&ctx.accounts.pool, amount_in)?;
    require!(output >= min_amount_out, ErrorCode::SlippageExceeded);
    token::transfer(ctx.accounts.into_ctx(), output)?;
    Ok(())
}

Example JSON Finding

{
  "detector": "slippage-protection",
  "severity": "high",
  "confidence": 0.85,
  "message": "Token swap CPI without minimum output amount validation",
  "location": { "function": "swap", "block": 0, "statement": 2 }
}

Detection Methodology

Swap CPI identification: Detects CPI calls to known DEX programs (Raydium, Orca, a major Solana DEX aggregator).
Output comparison search: Looks for comparison operations on the swap output against a minimum threshold.
Hardcoded slippage detection: Flags hardcoded percentage-based slippage values exceeding 5%.
Missing bounds analysis: Verifies that swap outputs are checked before token transfers.

Limitations

False positives: Programs using a major Solana DEX aggregator aggregator routes may have slippage checked in the aggregator rather than the calling program. False negatives: Custom DEX implementations with non-standard interfaces may not be recognized.

MEV Vulnerabilities – broader MEV exploitation
Price Impact – large trade price impact