Mark price
- The mark price is a reference price used for margin, liquidation, order triggers and unrealized profit and loss.
- For the board's contracts it is the median of three values, not the last trade.
- StockTicker24 shows the mid price first and uses the mark price only when the mid price is unavailable.
Mark price: definition, StockTicker24 display rules and dated production-data examples.
Definition
The contract issuer, trade[XYZ], documents the mark price in Mark Price. It is used for margin, liquidation, order triggers and the valuation of unrealized profit and loss. The value is the median of three inputs.
| Input | Supplied by |
|---|---|
| Oracle price | The issuer's relayer |
| Oracle price adjusted by a 150-second exponential moving average of (order-book mid − oracle) | The issuer's relayer |
| Median of best bid, best ask and last trade | The protocol (Hyperliquid) |
The documented update limit is 50 basis points from the current mark price. Because the median is taken, one input far from the other two is not used.
Other clearing houses use other methods. Japan Securities Clearing Corporation sets the daily settlement price of Nikkei 225 futures from the last traded price or a theoretical price.
The mark price also sets each card's display class through open interest in U.S. dollars.
the mark price is a median of three inputs, so one outlying input does not set it.
How it appears on StockTicker24
The footer on every page describes prices as "mark/mid reference values". The large number on a card is the mid price. The mark price takes its place only when the mid price is missing.
The mark price has a second job: it converts open interest to U.S. dollars. Open interest × mark price below USD 10,000 gives the "Reference value" display. USD 50,000 or more gives the price-discovery display. Between the two, the card keeps its previous class.
The site retrieved its production board snapshot (/api/board-snapshot) at Oct 10, 2026, 05:01:18 UTC (capturedAt 05:01:10.627 UTC).
| Card | Mark price | Mid price | Mid − mark | Open interest × mark (USD) |
|---|---|---|---|---|
| BTC/USD | 82,645.0 | 82,650.5 | +5.5 | 3,154,408,952 |
| S&P 500 | 7,820.4 | 7,820.35 | −0.05 | 373,080,706 |
| Chevron | 212.13 | 211.795 | −0.335 | 33,461 |
The Chevron row falls between USD 10,000 and USD 50,000, so its card keeps the class it already had. The snapshot alone does not show which class that was.
on a card, the mark price is a fallback for the price and the input for the display class.
Examples from the current board
Saved observation:
Tables scroll horizontally. Values use each contract’s quoted unit; no currency conversion.
| Symbol / contract | Unit | Price (mid; mark if missing) | prevDayPx | Difference vs. prevDayPx | Change vs. 24h earlier | Mark price | Mid price | (mark ÷ mid − 1) × 100 |
|---|---|---|---|---|---|---|---|---|
| Roundhill Neocloud ETFxyz:NCLD | USDC | 16.524 | 16.685 | −0.161 | −0.964939% | 16.652 | 16.524 | +0.774631% |
| KOSPI 200xyz:KR200 | USDC | 840.47 | 851.74 | −11.27 | −1.323174% | 843.8 | 840.47 | +0.396207% |
| Applied Optoelectronicspara:AAOI | USDC | 72.827 | 75.0 | −2.173 | −2.897333% | 73.1 | 72.827 | +0.374861% |
| SoFi Technologiespara:SOFI | USDC | 14.3075 | 14.514 | −0.2065 | −1.422764% | 14.356 | 14.3075 | +0.338983% |
| Cipher Digitalpara:CIFR | USDC | 8.8873 | 8.9963 | −0.109 | −1.211609% | 8.9155 | 8.8873 | +0.317307% |
Price = mid price, or mark price when mid is unavailable. Difference = price − prevDayPx; change vs. 24h earlier = (price ÷ prevDayPx − 1) × 100. Funding rate (%) = hourly decimal × 100. Calculated values are rounded to six decimal places.
Data: our board (perpetual-futures reference values), observed
No matching numeric example is available in this snapshot; the related board card is shown below.
Price: mid price (mark if missing) · perpetual futures / vs. 24h earlier / / Saved / stale
Data: our board (perpetual-futures reference values), observed
Questions
Is the mark price the last traded price?
No. The last trade is one part of one input. The mark price is the median of three inputs.
Is the mark price calculated the same way on every exchange?
No. The method above is the contract issuer's. Japan Securities Clearing Corporation, for example, uses traded or theoretical prices for Nikkei 225 futures.
Why can the card price differ slightly from the mark price?
The card shows the mid price when it is available. In the snapshot above, BTC/USD mid was 5.5 above its mark price.
Related
Sources
The production API examples are a fixed historical snapshot. Building this page does not fetch new prices.
External source titles and URLs were checked on Oct 11, 2026. The historical content retrieval dates are listed below.
- trade[XYZ] (contract issuer), Mark Price — https://docs.trade.xyz/perpetuals/mechanics/mark-price.md (content retrieved Aug 23, 2026, as cited on the Japanese page).
- trade[XYZ] (contract issuer), Perpetuals — https://docs.trade.xyz/perpetuals.md (content retrieved Aug 23, 2026, as cited on the Japanese page).
- Japan Securities Clearing Corporation, 先物・オプション取引に係る清算値段等の決定方法等 (version published Jun 25, 2026; content retrieved Aug 23, 2026, as cited on the Japanese page).
- StockTicker24 production API
/api/board-snapshot, retrieved Oct 10, 2026, 05:01:18 UTC.