Mark Price

Mark price is the “fair price” of a perpetual contract, and is used for margining, liquidations, triggering TP/SL, funding rates, and computing unrealized PNL.

Like on Hyperliquid and most other perps exchanges, mark price is not always the midpoint of best bid and best ask. Ventuals applies liquidity and open interest-aware smoothing techniques to perp mark prices, to mitigate manipulation risk in thin market conditions.

Mark prices, along with oracle prices, are updated approximately once every 3 seconds.