The terms these docs use, each defined once with a link to the page that covers it.
Prices
Term
Meaning
Index price
A weighted median of spot prices on seven major venues that anchors each perp; for SUB, its own book and launch pool (Markets and pricing)
Oracle price
The index as the engine applies it for funding; for SUB, never more than 4x its cap reference
Mark price
The median of three inputs built from the index, the book, and external perp prices; margin, unrealized PnL, triggers, liquidation, and the 10% price band on perp orders use it
Impact notional
The size a premium sample sells into the bids or buys from the asks
Cap reference
For SUB, an 8-hour exponential moving average of its index that bounds the oracle and the mark from above
Premium
How far the impact bid or ask sits from the oracle price, sampled every 5 s; a side too thin to fill the impact notional counts as zero
Funding rate
The hourly rate longs and shorts pay each other at the oracle price, built from the mean premium and an interest rate of 0.01% per 8 hours (Markets and pricing)
Margin and liquidation
Term
Meaning
Initial margin
Equity a position needs to open or grow: notional divided by the lower of the account’s leverage and the tier maximum
Maintenance margin
Equity a position needs to stay open: half the initial margin at the tier maximum (Margin and liquidation)
Bankruptcy price
The price at which an account, or an isolated position’s margin, would hold exactly zero equity
Vault backstop
The AMM vault taking over an account below two thirds of maintenance, at the mark, with its remaining margin
Auto-deleveraging
Closing ranked opposite positions at the previous mark to cover a shortfall past an account’s margin, with no holder taken below maintenance
Hedge mode
A position mode in which an account holds a long and a short side by side in one market, each with its own entry, funding, and margin
Post-only
A limit order refused if it would match on arrival; it applies ahead of taking orders in each matching cycle
Custody
Term
Meaning
Custody contract
The contract that holds all USDC on the exchange and pays each withdrawal only to the owner who signed it (Onchain settlement)
Settlement
The onchain record of net balance changes, which carries no position, order, or fill
Accounts and rewards
Term
Meaning
Agent
A key the owner approves to trade, set margin, and read for the account; it can never withdraw or transfer funds (Order lifecycle)
Request allowance
The number of exchange requests an account may send: 10,000 plus one per USDC traded, which can be bought ahead at 0.0005 USDC per request (Market making)
NAV
Net asset value: the AMM vault’s equity at the mark, which sets the price of a vault share (AMM vault)
Sub-account
A separate account an owner opens, with its own balance and positions, traded by the owner or its agents
Participant group
The unit rewards score; linked accounts share a group that scores as one participant (Emissions and trade-to-own)
Committed open interest
Part of a position the owner commits until a chosen time, scored by the initial margin it needs at the market’s maximum leverage
Reward period
One week of the emission schedule, released pro rata from its quarter’s ceiling
Eligible SUB
SUB that earns holder payouts: SUB in Subliquid accounts, staked or not, and in wallets or contracts outside the protocol’s own addresses (SUB token)
