Cross-chain routing slippage in 2026: what changed
A structured look at how slippage profiles on Osmosis DEX, Uniswap v3, and bridged paths evolved between Q3 2025 and Q2 2026. Includes depth data at three impact thresholds across four token pairs.
Osmosis Research
Liquidity depth notes
Research, protocol analysis, and methodology notes from the Osmosis team. Written for people who think seriously about on-chain execution.
Liquidity depth versus volume: what research desks get wrong
Volume tells you that trades happened. Depth tells you how many more can happen before the price moves. For research desks, the difference matters enormously.
ATOM/USDC routing on Osmosis v2.3: a depth audit
After the Osmosis v2.3 upgrade, we re-indexed the ATOM/USDC pool and compared depth curves before and after. The results were not what most people expected.
On-chain versus CEX liquidity for treasury rebalancing
When does routing through a DEX actually cost less than using a centralized venue? We worked through the math for three treasury rebalancing scenarios.
The snapshot liquidity data problem
Most on-chain liquidity analytics tools give you a number at one point in time. But depth changes continuously. Here is why that matters for execution quality.
Cross-chain bridge slippage: measuring the hidden cost
Bridge fees are visible. Bridge slippage at the destination DEX is not. We quantify the combined execution cost for four common bridge-then-swap routes.
How research desks model on-chain liquidity: current practice
We surveyed liquidity modeling approaches across ten research desks. The most common method was still a TVL proxy adjusted by a constant. Here is what they get right and what they miss.
Market depth anomalies and protocol routing decisions
Routing algorithms that optimize for fee minimization without accounting for depth anomalies can route into thin pools. We identify the conditions where this is most likely to cause excessive slippage.
Block explorer data exports: why they bottleneck research workflows
Row limits, inconsistent schemas, and hourly quotas make block explorer exports a fragile foundation for depth analysis. A breakdown of the specific friction points.
IBC routing efficiency in the Cosmos ecosystem
IBC transfers between Cosmos chains add latency and introduce execution risk at the destination pool. We analyze three months of routing data to quantify the practical impact.
Cross-chain liquidity analytics: an introduction
What cross-chain liquidity analytics actually means, why it is different from single-chain depth analysis, and how the Osmosis platform approaches the problem.
Liquidity depth versus TVL: why the gap matters for execution
A pool with high TVL can still have thin depth at common execution sizes. We look at five pairs where the TVL-to-depth ratio diverged significantly and explain why.