$OP_CAT
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Mark Price is a reference price used for Futures risk calculations, including liquidation. It may not always match the Last Price. Why? Last Price can move quickly with the latest trade, while Mark Price is designed to reduce the impact of sudden price movements.
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AI visual note: A gauge illustration by WazirX shows the "Mark Price" needle pointing straight up while the "Last Price" needle is slightly to the right and shaking, visually demonstrating how the Mark Price remains stable and serves as a reliable reference for futures risk calculations, unlike the volatile Last Price that moves with each trade.