What does "Index Price" mean?

(B) Index Price

The index price is a key reference price used to determine the value of a perpetual contract.

It typically reflects the average price of an asset across multiple spot exchanges to ensure a fair and accurate benchmark.

Note: Tradoor is not an orderbook-type exchange, and it is an on-chain exchange with its price frequency being 1 second, which means that it will use the median price per second of the Binance price source for settlement.

Hence, for a limit type order the trigger price might not always be the index price. (But more on limit type orders later).