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Cooling DownSnapshot Window: 2026-10-08 12:20 UTC Β· β Back to Crypto Overview
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Verbatim Community Citations & Social Evidence 1 source posts analyzed
Ever wonder which price matters most? For perpetuals, you'll see two: last price and mark price. Last price is what's trading now. Mark price, however, is what triggers liquidations. Itβs an average, built to protect you from sudden market swings.
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AI visual note: An educational slide from 'The True Trade' titled 'Liquidation: Mark or Last?' explains that perpetuals contracts track the last traded price and the mark price, with three numbered points clarifying that the last price reflects real-time trades, the mark price uses an index average to prevent manipulation, and liquidation is based on the mark price. Dated Oct 07, 2026 UTC.