Can a Limit Order Ever Experience Slippage on a Centralized Exchange?

A limit order, by definition, guarantees execution at the specified limit price or better. Therefore, it cannot experience negative slippage, as the worst possible execution price is the limit price itself.

However, it can experience positive slippage if the market moves favorably and the order is filled at a better price. The primary risk with a limit order is non-execution if the market price never reaches the specified limit.