Last Traded Price

The Last Traded Price is the current market price on MCS. To ensure the Last Traded Price does not deviate largely from the spot price, a way of paying interest between the long and short is used called Funding.

*Note: In a highly fluctuating market, the Last Traded Price on MCS may temporarily deviate from the Mark Price. Traders must ensure to pay attention to the Liquidation Price and the Mark Price interval to prevent unnecessary liquidations.

<Example: Why Dual Price Mechanism is Needed>

The current Mark and Last Traded Price are traded at a similar value of 10,000 USDT and 10,001 USDT respectively. Bitcoin Billionaire David decides to short all of his bitcoins with 100x leverage at the market price on MCS. The Last Traded Price plunges to 5,000 USDT while the Mark Price remains at 10,000 USDT.

If the Last Traded Price is used for liquidations, most of the leveraged traders with long positions would have been unnecessarily liquidated. On MCS, these undesired liquidations are prevented through the Dual-Price mechanism.