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Index Price
An index price is a reference price designed to represent the broader market value of an underlying asset. For crypto perpetual futures, it is commonly calculated using prices from one or more underlying spot markets rather than relying solely on the perp's own trading price.
Why it matters to you
The index price gives the perpetual contract an external reference for what the underlying asset is worth across the broader market. It can be used as an input when calculating mark prices, funding and other exchange risk mechanisms. This makes the quality and construction of the index important.
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