Price Indicators

StandX anchors every perpetual position to a mark price that is designed to be fair, difficult to manipulate, and easy to reason about. The calculation starts with a reliable oracle index and then blends in two additional references before choosing the middle value.

Mark Price Inputs

• Funding-adjusted index – we project the oracle index toward the next funding event, nudging it up or down by the latest funding rate over the remaining interval. In broad terms, P_f = P_index × (1 + f × θ), where f is the latest funding rate and θ is how much of the funding window remains.
• Short-term basis – we track how recent mid prices on StandX have drifted from the index and add that average difference back to the index price.
• Latest StandX trade – we take the most recent matched trade price; if trading is inactive, we quietly fall back to the oracle index.

The mark price is the median of these three numbers, so a single outlier cannot pull it away from fair value.

Abnormal Market Conditions

StandX continuously cross-checks its mark price with leading venues such as Binance, OKX, and Bybit. Whenever our internal mark strays noticeably from the pack, we temporarily pin it to the median mark price reported by those venues and keep monitoring until conditions normalize.