Initially launched for the arcades, the game was later ported to other microcomputer and console platforms by various third-party developers, with each one featuring several changes or additions compared to the original release.

Although it never received a direct sequel, the game's ideas and weapon system were later inherited by both Truxton and Grind Stormer, with the latter being regarded as its spiritual successor.

Slap Fight is a science fiction-themed vertically scrolling shoot 'em up game reminiscent of B-Wings, where players assume the role of an Allied League of Cosmic Nations (ALCON) fighter pilot taking control of the SW475 space fighter craft in a counterattack effort to defeat an invading alien race led by Gaudy on planet Theron as the main objective.

[2][3][4] However, activating any weapon power-up increases the ship's hitbox, making it a bigger target for enemy fire and difficult to keep successive lives in the heat of battle.

[7][8][9][10] Slap Fight was also one of the earliest projects Toaplan made using game design documents, though Yuge claimed that these were added after development as postscripts, since the team "needed some written records".

[11] Yuge stated that the weapon change mechanism was intended to be a strategic element in Slap Fight, as the player's ship is rendered invincible.

[9] Another secret, the ship's satellite "option", was an idea suggested by Osamu "Lee" Ōta as a way to give the second player on a cocktail cabinet a purpose.

[13] Being a fan of Twin Cobra, Ichikawa wanted to make a console port but Uemura told him the game was already being converted by another team.

[13] Ichikawa stated that the special mode was conceived as the "ultimate version" and featured a wider range of strategic play, as the team felt the original arcade release did not offer as many gameplay strategies and depth.

[15][16][17] A Sega Mega Drive conversion titled Slap Fight MD was published in Japan by Tengen on 11 June 1993 and South Korea by Samsung on the same year.

[3][19] In this version, players control the titular attack helicopter from Tiger-Heli instead of the SW475, while the laser is changed to fire a three-way spread shot and new enemies such as the aliens from Space Invaders are introduced.

[8] Japanese magazine Game Machine listed it on their 1 September 1986 issue as being the seventh most-successful table arcade unit of the month, outperforming titles such as Ikari Warriors and Gradius.

[54][55][56] In more recent years, the rights to the game and many other IPs from Toaplan are now owned by Tatsujin, a company named after Truxton's Japanese title that was founded in 2017 by Yuge, and is part of Embracer Group since 2022.