Transition functions can accept parameters. Replace the fade transition with fly...

<script>
	import { fly } from 'svelte/transition';

	let visible = $state(true);
</script>

<script lang="ts">
	import { fly } from 'svelte/transition';

	let visible = $state(true);
</script>

...and apply it to the <p> along with some options:

<p transition:fly={{ y: 200, duration: 2000 }}>
	Flies in and out
</p>

Note that the transition is reversible — if you toggle the checkbox while the transition is ongoing, it transitions from the current point, rather than the beginning or the end.