Slime Speedway includes a base roster of 40 playable racers from various Nicktoons, with two additional characters available as downloadable content. All of the core gameplay modes from the previous game return, including the 'Slime Scramble' Grand Prix Free Race Time Trial Challenges and Arena.

Up to 90 pit crew characters can be unlocked in Slime Speedway. These abilities can be activated once the player fills a meter by driving through a sufficient amount of slime on the track. The 'pit crew' system from Nickelodeon Kart Racers 2: Grand Prix returns, which allows players to equip special characters before each race that grant them active and passive abilities. As in the original Nickelodeon Kart Racers, vehicles will transform into watercraft at predetermined points in the race to continue progressing through the track. Players must race around a track and attempt to come in first place, using items scattered on the track to hinder opponents or techniques such as drifting and midair tricks to gain speed. Nickelodeon Kart Racers 3: Slime Speedway builds on the gameplay established in previous series entries. The game was released on Octofor Nintendo Switch, PlayStation 4, PlayStation 5, Windows, Xbox One, and Xbox Series X/S. Like its predecessors, Slime Speedway is based around characters from various Nickelodeon animated series, known as ' Nicktoons', participating in kart races and attempting to defeat their opponents.

It is the third entry in the Nickelodeon Kart Racers series, following Nickelodeon Kart Racers (2018) and Nickelodeon Kart Racers 2: Grand Prix (2020). Nickelodeon Kart Racers 3: Slime Speedway is a racing game developed by Bamtang Games and published by GameMill Entertainment.

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