2025-08-22
Main Takeaways
Users come across two different prices when trading on Binance Futures: Last Price and Mark Price.
Last Price is the latest trade price of a contract and Mark Price is the estimated fair value of a contract.
To avoid unnecessary liquidations in a volatile market and prevent price manipulation, Binance Futures uses Mark Price as a reference in liquidation.
Futures contracts allow traders to gain exposure to cryptocurrencies without the need to possess the underlying asset. A futures contract’s price depends on the underlying asset’s spot price. The spot price refers to the current market price of the cryptocurrency at which it can be bought or sold for immediate settlement.
In ideal conditions, the price of a futures contract follows the spot price of the underlying asset. However, this is not always the case, as futures contracts have their own demand and supply dynamics, which often leads to differences in the prices of these contracts and their underlying assets.
This is why you may have come across two different prices when trading on Binance Futures: Last Price and Mark Price. Read on to find out how these two indicators are different and how they are used on our futures trading platform.