> For the complete documentation index, see [llms.txt](https://docs.level.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.level.finance/tutorials/trading-tutorials/pricing-mechanisms.md).
# Pricing Mechanisms
LEVEL enables trading with minimal price impact, meaning you can execute large trades without your position size affecting the price of the asset on the market. You can, however, experience slippage due to price movements between when your trade is executed and when it is confirmed on the blockchain. This slippage is defined as the difference between the expected price of the trade and the execution price.
When opening or closing a position, there are various factors that affect the price a trader will receive.
* Mark Prices are displayed next to the pair in the market dropdown - this is only a reference price and is not associated with any position variables
* For market orders, a trader will be returned an Entry Price based on the Mark Price plus any slippage
* For limit orders, the Entry Price is simply returned as the price the trader set the order to
The chart on the Leverage Trading UI indicates the average of the long and short Mark Prices.
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