It is used for:
Margin calculations
Liquidations
Triggering Take Profit / Stop Loss (TP/SL)
Calculating unrealized PnL
Unlike the last traded price, the Mark Price is designed to reduce manipulation and short-term volatility impact.
Mark Price updates approximately once per second, whenever validators publish new oracle prices.
How Grvt Mark Price Is Calculated
The Grvt Mark Price is the median of three independent price inputs:
Price 1
Oracle Price + 150-second EMA adjustment
Where:
Fair Price = median of:
Best bid
Best ask
Last trade (on Grvt)
Oracle Price = Block Scholes Index Price
A volume- and deviation-weighted average of large CEX spot exchanges’ mid prices
Converted to USDT
The difference between Fair Price and Oracle Price is:
Capped at 5% of the Oracle Price
Smoothed using a 150-second Exponential Moving Average (EMA)
Added to the Oracle Price
Price 2
Median of:
Best bid (Grvt)
Best ask (Grvt)
Last trade (Grvt)
Price 3
Block Scholes original (legacy) Mark Price:
A volume- and deviation-weighted average of large CEX perpetual exchanges’ mid prices
Fallback Logic (If One Price Input Is Missing)
If exactly two out of the three price inputs are available:
A 30-second EMA of the Fair Price is added as an additional median input.
If that EMA is unavailable:
A 30-second EMA of the current Block Scholes Mark Price is used instead.
This ensures continuity and stability even if one data source is temporarily unavailable.
EMA Update Formula
The EMA is updated dynamically based on the time since the last update.
For a price update occurring at time interval t:
ema = numerator / denominator
numerator -> numerator × exp(-t / 2.5 minutes) + Price × t
denominator -> denominator × exp(-t / 2.5 minutes) + t
This time-weighted approach ensures smooth updates while remaining responsive to real market conditions.
Why Grvt Uses This Method
This multi-source median methodology:
Reduces manipulation risk
Limits impact from outliers
Protects users from abnormal spikes
Keeps liquidation and margin calculations fair
Provides stable TP/SL trigger logic
By combining oracle data, on-platform pricing, and external perp markets, the Grvt Mark Price reflects a balanced and resilient fair value.