Pretty cool idea, my panicked attempts to save myself reminded me of "Getting Over It" where it can just spiral into a bigger failure, the biscuit checkpoint system however does play it into nicely where when you fall to bottom it's entirely the player's fault for their greed.
The control however could use some work - when the mouse is at the corner of the screen you cannot drag the arrow in that direction, think it should maybe return the mouse to the middle of the screen after each jump. Also going back to a check point should reset all momentum as right now it just tumbles you away sometimes trapping you in a loop.
I like the hand drawn aesthetic, and the biscuits jiggling in the jar are a nice touch too. Really nice and fun game!