> ## Documentation Index
> Fetch the complete documentation index at: https://help.arcus.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Why are the last price and mark price different?

The last price is the most recent trade and can move on a single small order; the mark is smoothed to prevent unfair liquidations from one-off prints.

They align under normal liquidity but can briefly diverge during volatility, thin books, or suspected manipulation - a deliberate protection for open positions.