Updates on Mark Price Calculation for USDⓈ-M and COIN-M Futures Contracts (2024-04-03)

2024-03-27 05:00

Fellow Binancians,
Binance Futures will update mark price calculation for the USDⓈ-M and COIN-M Perpetual and Delivery futures contracts at 2024-04-03 06:00 (UTC). With this update, mark price will be calculated and refreshed based on data points over a 2.5-minute period. Details are shown in the table below.
Contract Type
Before the Change
After the Change
USDⓈ-M and COIN-M Perpetual Contracts
Mark price = Median (Price 1, Price 2, Contract Price) 

Price 2 = Price Index + Moving Average (5-Minute Basis) *

*The Moving Average (5-Minute Basis) is calculated as the average of 60 data points over a 5-minute period. The data point is calculated every 5 seconds by taking the average of the bid and ask prices and then subtracting the Price Index.
Mark price = Median (Price 1, Price 2, Contract Price) 

Price 2 = Price Index + Moving Average (2.5-Minute Basis) *

*The Moving Average (2.5-Minute Basis) is calculated as the average of 30 data points over a 2.5-minute period. The data point is calculated every 5 seconds by taking the average of the bid and ask prices and then subtracting the Price Index.
USDⓈ-M Delivery Contracts
Mark Price = Price Index + Moving Average (5-Minute Basis) *

*Moving Average (5-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 5-minute interval.


Mark Price = Price Index + Moving Average (2.5-Minute Basis) *

*Moving Average (2.5-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 2.5-minute interval.
COIN-M Delivery Contracts
Mark Price = Price Index + Moving Average (15-Minute Basis) *

*Moving Average (15-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 15-minute interval.
Notes:
COIN-M Delivery Contract mark price will be updated to 2.5-minute basis from the previous 15-minute basis.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Guides & Related Materials
What Are Mark Price and Price Index in USDⓈ-Margined Futures
Mark Price and Price Index of COIN-Margined Contracts
Thank you for your support!
Binance Team
2024-03-27
Note: This announcement was updated on 2024-03-27 to clarify mark price calculation for USDⓈ-M and COIN-M Delivery Contracts.

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Contract Type	Before the Change	After the Change
USDⓈ-M and COIN-M Perpetual Contracts	Mark price = Median (Price 1, Price 2, Contract Price) Price 2 = Price Index + Moving Average (5-Minute Basis) * The Moving Average (5-Minute Basis) is calculated as the average of 60 data points* over a 5-minute period. The data point is calculated every 5 seconds by taking the average of the bid and ask prices and then subtracting the Price Index.	Mark price = Median (Price 1, Price 2, Contract Price) Price 2 = Price Index + Moving Average (2.5-Minute Basis) * The Moving Average (2.5-Minute Basis) is calculated as the average of 30 data points* over a 2.5-minute period. The data point is calculated every 5 seconds by taking the average of the bid and ask prices and then subtracting the Price Index.
USDⓈ-M Delivery Contracts	Mark Price = Price Index + Moving Average (5-Minute Basis) * *Moving Average (5-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 5-minute interval.	Mark Price = Price Index + Moving Average (2.5-Minute Basis) * *Moving Average (2.5-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 2.5-minute interval.
COIN-M Delivery Contracts	Mark Price = Price Index + Moving Average (15-Minute Basis) * *Moving Average (15-Minute Basis) = Moving Average ((Bid1 + Ask1) / 2 - Price Index), calculated each minute in a 15-minute interval.