A slippage that occurs when an order is executed at a more favorable (higher for a sell order, and lower for a buy order) than the price requested by a trader. For example, if a trader posted an order to buy at $15.1050, and execution has taken place at $15.1046, a positive slippage of (15.1050- 15.1046 = 0.004, or 4 pips) would form to the benefit of the trader.

The opposite scenario is a negative slippage.

Positive slippage is also known as price improvement.