What can happen on OKX

[Oshosondy]

I opened a short position with BTC 1x leverage on OKX like three days ago, bitcoin was around $20275 on the derivative market (which supposed to be the mark price) that time, when I opened the short (sell) position, I was surprised that the entry price was $20070. I was surprised and that could affect my trading because with $200 different in price down, I would have gained and close the position opened. I did not have any other option than to increase the leverage to 3x in order to let the price I will start making profit closer, it was closer though. I checked the history of position opened but I still noticed the price the 3x position was filled was just like what happened when I opened 1x. It was worrying.

It has not happened to me before until three days ago. What could have cuase it?

[Bitcoin_Arena]

I opened a short position with BTC 1x leverage on OKX like three days ago, bitcoin was around $20275 on the derivative market (which supposed to be the mark price) that time, when I opened the short (sell) position, I was surprised that the entry price was $20070.

Mark price is not derived from the derivative market. Mark price is derived from the index price (In simple terms, the average price of the asset in spot markets across selected exchanges)
Derivative markets are prone to manipulation and so if mark price was based on derivative markets we would see lots of unnecessary liquidations and complaints from traders

this link can help you - https://www.okx.com/academy/en/understanding-mark-price

I have a feeling you opened an order using derivatives market price. Please confirm.

I was surprised and that could affect my trading because with $200 different in price down, I would have gained and close the position opened. I did not have any other option than to increase the leverage to 3x in order to let the price I will start making profit closer, it was closer though. I checked the history of position opened but I still noticed the price the 3x position was filled was just like what happened when I opened 1x. It was worrying.

You didn't open a new position, so increasing the leverage does not mean the entry price will change.

[GreatArkansas]

You should also consider the type of order you set.
There is a difference of limit buy order and market buy order,
A market order is once the price reaches the price you set, it will automatically do a market buy order no matter what the price is.
Limit order is it will create a buy order on the price you set (more precise based on your set but it can be not triggered or able to satisfy the order immediately).

[mk4]

With exchanges you don't necessarily always get executed on the current price if you're using market orders. The price might be $20275, but if the sell order on that price is very thin (let's say if only $50 worth of BTC is being sold on that price and you're trying to execute a $1000 order), then the average execution price will be different.

If you only want your orders to execute on a specific price, use limit orders.

[Oshosondy]

Thanks Bitcoin_Arena, but the issue was not about the mark price, though I gained from the article that you provided its link. The problem is that, before, if I open a position at for example $20275, it will be filled at that price, I was shocked to see the mark price at a very far lower price which was a big disadvantage for me. I moved my coins out of the exchange for now to trade on another exchange, I will later move small amount back to test if it is like that. I haven't see this before ever since I have been using OKX. I left an exchange(name withheld to avoid people not to think I am promoting the exchange) for active trading on OKX, but that has never happened to me on the former exchange before.

I have a feeling you opened an order using derivatives market price. Please confirm.

If I get you correctly, yes, a price very close to the BTC/USDT perpetual market price of bitcoin which was filled within less than 10 seconds.

You didn't open a new position, so increasing the leverage does not mean the entry price will change.

This is what I mean:

Assuming you opened a sell position with bitcoin price at $20000, the liquidation should be close to $40000. If the price of bitcoin inceeased to $25000 (that is much, but just for instance), the person is losing already and bitcoin will first have to get to $20000 and below before making profit. At bitcoin price of $25000, you can increase the leverage to 3x (my maximum leverage for bitcoin).

If increased to 3x at bitcoin price of $25000, the price you will start making profit will increase from $20000 (the price you opened a short position) to $23333.

That is $20000 + $25000 * 2 (2 from the added leverage) divided by 3 (which is the average, total leverage used) which equals to $23333.

That is what I was talking about.

If you only want your orders to execute on a specific price, use limit orders.

I have only noticed stop limit order in spot market or while closing an opened position in future market. But there is a way you can manually set the price to make it a stop limit order though. The position still took some seconds before it was opened.