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On Roxom, the Mark Price is used to calculate PnL, margin requirements, and liquidation — not the last traded price. This helps prevent unfair liquidations caused by sudden price spikes.

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What is the Mark Price?

The Mark Price is a reference price designed to reflect the fair value of the contract. It’s calculated using:
  1. The Index Price of the underlying asset
  2. A small adjustment based on the funding rate
  3. Signals from our order book (to prevent manipulation and smooth out short-term spikes)
Because it’s based on the broader market and not just Roxom trades, it’s less affected by short-term volatility.
See the exact Mark Price calculation in the Mark Price section of our Rulebook.

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What is the Last Traded Price?

The Last Traded Price is the price of the most recent trade on Roxom for that contract. It reflects the latest transaction between two traders on the platform — but it may move more sharply than the broader market.

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Why the difference matters

  • Liquidation triggers — Your liquidation price is based on the Mark Price, not the last trade
  • Stop orders — Conditional orders can use Mark Price, Last Price, or Index Price as the trigger — you choose when placing the order
  • PnL display — Unrealized profit/loss is calculated using the Mark Price

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Example

Scenario:
  • Mark Price = 0.0300 BTC
  • Last Traded Price = 0.0297 BTC
A sudden sell at 0.0297 BTC won’t cause liquidation if the Mark Price stays at 0.0300 BTC — this protects you from “wick” liquidations.

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Things to remember

Important points:
  • In very illiquid markets, Last Price may diverge more from Mark Price
  • If the underlying market is closed, the Mark Price may stay frozen until reopening
  • Always check which price your stop orders are set to trigger from

How do I view my open orders in Derivatives

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How funding payments work (and when you pay or receive)

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