Overview

Marks lets you trade the price of 1 USDT vs local currencies using perpetual futures. All trading on Marks runs through liquidity pools, meaning your trades execute against pooled liquidity rather than individual counterparties.

How Trading Works

When you open a long or short position:

• Your trade is executed against the liquidity pool for that market

• When you close your trade, your profits or losses are settled against the pool in real time

Liquidity pools act as the counterparty when there isn’t an opposite trader. This allows markets to stay open 24/7 and ensures trades can always be executed.

How the System Stays Balanced

To keep each market stable, several mechanisms automatically adjust based on real-time conditions:

• Funding Fees

  Incentivize balance between long and short positions so one side doesn’t dominate.

• Borrowing Fees

  Compensate liquidity providers for the pool liquidity your position uses.

• Price Impact

  Adjusts your execution price depending on how your trade affects market balance.

• Margin & Liquidations

  Help ensure that losing positions don’t exceed their available collateral.

These systems work together to keep markets fair, liquid, and resistant to extreme imbalances.