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Mark Price
The mark price is a reference price used by many perpetual futures platforms to calculate unrealized profit and loss and determine whether positions meet liquidation requirements. Its exact calculation varies by platform, but it is generally designed to provide a more stable reference than simply using the most recent trade.
Why it matters to you
A temporary spike in the last traded price should not necessarily be enough to liquidate leveraged positions. Using a mark price can reduce the impact of brief or abnormal movements in the contract's own trading price. For perp traders, this means the number that matters for liquidation may not be the same price they see as the latest trade.
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