> For the complete documentation index, see [llms.txt](https://yubit.gitbook.io/yubit/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://yubit.gitbook.io/yubit/derivatives-trading/futures-faq/prices-and-references.md).

# Prices & References

Futures trading relies on different price references, and understanding them is key to reading your PnL and liquidation levels. Here, we explain the latest price, the mark price, and how each one affects your trades.