The Index Price is a fundamental reference point across trading on Omni, representing the objective, real-time fair market value of an underlying asset.
The Index Price is computed by aggregating spot prices across a number of different venues including centralized exchanges, DEXs and more.
While a Quoted Price tells you what you can trade at now (given your desired position size and market conditions), and a Mark Price is used as the fair asset value in a perpetual futures contract, the Index Price represents the real-time spot market price of the underlying asset.
Why Index Price Matters
An accurate Index Price is essential for a number of reasons:
Fair Value Anchor: The Index Price ensures that markets on Omni don’t deviate too far from global spot markets.
Mark Price Calculation: It is an integral part of determining the Mark Price, used as a reference point for UPnL, margin calculations and liquidations.
Transparency: Provides a transparent, verifiable price benchmark derived from multiple external public sources.