Because Clipper generates more efficient returns for LPs, it can afford to offer better prices to traders.
With ~$10M in liquidity (TVL), Clipper has best prices trades up to $10k. As TVL grows, Clipper will have best prices on larger trades--e.g., $50M TVL would correspond to best prices on trades up to $50k.
Below are the results of a sampling study against 0x API for a $10K USDC<>ETH trade over several days in August 2023. The results show Clipper beat 0x 92.5% of the time on both legs of the trade and 99.6% of the time on at least one leg.