Mark Price

Binance Futures uses Mark Price as a reference in liquidations and calculations of unrealized PNL.
As Unrealized PNL is the primary driver of liquidations, it is important to ensure that the Unrealized PnL calculation is accurate to avoid unnecessary liquidations. The underlying contract for the Perpetual Contract is the ‘true’ value of the Contract, and an average of the prices on the major markets constitutes the “Price Index” which is the primary component of Mark Price.
Check out the Price Index references for each Futures Contract.
For more details about the mark price, please refer to Binance Official Announcement: