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Oracle, Index, and Mark Prices

N1 uses separate index and mark prices because they serve different purposes.

Index price​

The index price is an external reference price for the underlying asset.

Index price is used for:

  • collateral and margin calculations;
  • take-profit and stop-loss activation;
  • funding calculations;
  • price-band validation; and
  • liquidations.

If a reliable index price is unavailable, trading may be restricted until valid pricing resumes.

Mark price​

The mark price reflects the market's traded pricing relative to the index. For CLOB markets, it is derived from the best available bid and ask.

The mark price is used for displayed unrealized trading PnL and for the premium component of funding. It does not trigger take-profit or stop-loss orders.

For RFQ markets, pricing from eligible market makers is used to measure the market premium for funding.

These materials are provided for informational purposes only and do not constitute financial, investment, legal, or tax advice, or an offer or solicitation to buy or sell any asset. Trading digital assets and derivatives involves substantial risk, including the possible loss of some or all capital. Products may not be available in all jurisdictions. Users are responsible for evaluating suitability and complying with applicable laws.