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  <url><loc>https://www.liquidityflow.io/reviews</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>Crypto exchange reviews</image:title><image:caption>Promo codes and dated fee reviews</image:caption></image:image>
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  <url><loc>https://www.liquidityflow.io/promo-codes</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/events</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/data</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/bitunix</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/blofin</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/kcex</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/kcex-review.svg</image:loc><image:title>KCEX Review and Referral Code T7HAJY | LiquidityFlow</image:title><image:caption>KCEX review cover showing promo code T7HAJY on LiquidityFlow</image:caption></image:image>
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  <url><loc>https://www.liquidityflow.io/reviews/mexc</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/bingx</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/bingx-review.svg</image:loc><image:title>BingX Review and Referral Code O1TXVKWE | LiquidityFlow</image:title><image:caption>BingX review cover showing promo code O1TXVKWE on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/reviews/toobit</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/bydfi</loc><lastmod>2026-10-01</lastmod>
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  <url><loc>https://www.liquidityflow.io/reviews/tapbit</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/tapbit-review.svg</image:loc><image:title>Tapbit Review and Promo Code 42042069 | LiquidityFlow</image:title><image:caption>Tapbit review cover showing promo code 42042069 on LiquidityFlow</image:caption></image:image>
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  <url><loc>https://www.liquidityflow.io/bitunix-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/bitunix-review.svg</image:loc><image:title>Bitunix promo code rewards</image:title><image:caption>Bitunix promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/blofin-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/blofin-review.svg</image:loc><image:title>BloFin promo code reddit</image:title><image:caption>BloFin promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/kcex-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/kcex-review.svg</image:loc><image:title>KCEX promo code T7HAJY</image:title><image:caption>KCEX promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/mexc-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/mexc-review.svg</image:loc><image:title>MEXC promo code mexc-reddit</image:title><image:caption>MEXC promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/bingx-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/bingx-review.svg</image:loc><image:title>BingX promo code O1TXVKWE</image:title><image:caption>BingX promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/toobit-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/toobit-review.svg</image:loc><image:title>Toobit promo code reward</image:title><image:caption>Toobit promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/bydfi-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/bydfi-review.svg</image:loc><image:title>BYDFi promo code reddit</image:title><image:caption>BYDFi promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/tapbit-promo-code</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/reviews/tapbit-review.svg</image:loc><image:title>Tapbit promo code 42042069</image:title><image:caption>Tapbit promo code on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-0-fee-fest-kasusdt-and-brettusdt-futures-events-conclude-on-oct-5-2026-10-0</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>0-Fee Fest: KASUSDT and BRETTUSDT Futures Events Conclude on Oct 5, 2026, 10:00 (UTC)</image:title><image:caption>MEXC 0-Fee Fest for KASUSDT and BRETTUSDT futures, ending 5 October 2026, indexed by LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-discover-your-wall-street-dna-and-share-1-000-000-in-rewards</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>Discover Your Wall Street DNA &amp; Share $1,000,000 in Rewards</image:title><image:caption>MEXC event indexed by LiquidityFlow: Discover Your Wall Street DNA &amp; Share $1,000,000 in Rewards</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-memecoin-mania-enjoy-two-types-of-hodl-rewards</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>Memecoin Mania: Enjoy Two Types of HODL Rewards</image:title><image:caption>MEXC event indexed by LiquidityFlow: Memecoin Mania: Enjoy Two Types of HODL Rewards</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-usd-bank-transfer-swift-now-0-fee-earn-up-to-520-usdt</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>USD Bank Transfer (SWIFT) Now 0-Fee: Earn Up to 520 USDT</image:title><image:caption>MEXC event indexed by LiquidityFlow: USD Bank Transfer (SWIFT) Now 0-Fee: Earn Up to 520 USDT</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-btc-carnival-compete-for-500-000-in-limited-time-rewards</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BTC Carnival: Compete for $500,000 in Limited-Time Rewards</image:title><image:caption>MEXC event indexed by LiquidityFlow: BTC Carnival: Compete for $500,000 in Limited-Time Rewards</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/mexc-marscoin-mania-enjoy-0-spot-fees-and-earn-hodl-rewards</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>MARSCOIN Mania: Enjoy 0 Spot Fees &amp; Earn HODL Rewards</image:title><image:caption>MEXC event indexed by LiquidityFlow: MARSCOIN Mania: Enjoy 0 Spot Fees &amp; Earn HODL Rewards</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-convert-challenge-33-usdt</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin lists a Convert Challenge for 33 USDT</image:title><image:caption>BloFin Convert Challenge announcement indexed by LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-return-to-trading-20-usdt</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin lists a return-to-trading offer of 20 USDT</image:title><image:caption>BloFin return-to-trading announcement indexed by LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-lead-trading-rewards-4600</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin lists lead-trading rewards up to 4,600 USDT</image:title><image:caption>BloFin lead trading rewards announcement indexed by LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-btc-eth-championship-1500</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin lists a BTC and ETH trading championship</image:title><image:caption>BloFin BTC and ETH trading championship announcement indexed by LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-weekend-gifts-2026-09-25</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin weekend gifts post dated 25 Sep 2026</image:title><image:caption>BloFin weekend gifts announcement dated 25 September 2026 on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-tradfi-trade-protected-2026-09</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin TradFi campaign: trade protection listed up to 350 USDT</image:title><image:caption>BloFin TradFi campaign note dated 24 September 2026 through 9 October 2026 on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/events/blofin-spot-bot-campaign-2026-09</loc><lastmod>2026-10-01</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/events/exchange-events.svg</image:loc><image:title>BloFin Spot Bot campaign listed through 22 Oct 2026</image:title><image:caption>BloFin Spot Bot campaign note for 22 September 2026 through 22 October 2026 on LiquidityFlow</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/what-is-a-perpetual</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/what-is-a-perpetual.svg</image:loc><image:title>What a perpetual is</image:title><image:caption>Diagram of a perpetual futures contract linking a spot hold, the contract, a funding clock, and the absence of an expiry date.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/linear-vs-inverse</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/linear-vs-inverse.svg</image:loc><image:title>Linear and inverse contracts</image:title><image:caption>Split diagram comparing a linear perpetual that settles profit in USDT with an inverse perpetual that settles profit in the coin.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/long-and-short</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/long-and-short.svg</image:loc><image:title>Long and short</image:title><image:caption>Balance diagram of a long perpetual that gains when the mark rises and a short perpetual that gains when the mark falls.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/notional-and-pnl</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/notional-and-pnl.svg</image:loc><image:title>Notional and PnL</image:title><image:caption>Stacked diagram of perpetual notional built from quantity times mark, then price change, fees, and funding.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/hedge-mode</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/hedge-mode.svg</image:loc><image:title>Hedge mode</image:title><image:caption>Split diagram of one-way perpetual mode, which keeps a single net position, and hedge mode, which keeps a long and a short at the same time.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/index-price</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/index-price.svg</image:loc><image:title>Index price</image:title><image:caption>Flow diagram of spot prices from several venues combined into the index price used by a perpetual futures contract.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/mark-price</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/mark-price.svg</image:loc><image:title>Mark price</image:title><image:caption>Layer diagram showing the index, the book premium, the mark price, and the liquidation check on a perpetual future.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/last-price</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/last-price.svg</image:loc><image:title>Last price</image:title><image:caption>Layer diagram of the last trade on a perpetual book, the bid and ask, the chart candle, and a stop trigger.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/basis-and-premium</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/basis-and-premium.svg</image:loc><image:title>Basis and premium</image:title><image:caption>Layer diagram of the spot index, the perpetual order book, the premium between them, and the funding input.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/funding-rate</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/funding-rate.svg</image:loc><image:title>Funding rate</image:title><image:caption>Clock diagram of a perpetual funding rate moving from the premium, through a clamp, to a predicted rate at the funding timestamp.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/funding-interval</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/funding-interval.svg</image:loc><image:title>Funding interval</image:title><image:caption>Clock diagram comparing one-hour, four-hour, and eight-hour perpetual funding intervals and the number of payments per day.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/funding-payment</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/funding-payment.svg</image:loc><image:title>Funding payment</image:title><image:caption>Stacked diagram of a perpetual funding payment built from notional, the realized rate, each interval, and the resulting cashflow.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/who-pays-funding</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/who-pays-funding.svg</image:loc><image:title>Who pays funding</image:title><image:caption>Balance diagram showing longs paying shorts when the perpetual funding rate is positive and shorts paying longs when it is negative.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/initial-margin</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/initial-margin.svg</image:loc><image:title>Initial margin</image:title><image:caption>Stacked diagram of initial margin on a perpetual, from notional divided by leverage, plus a fee buffer.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/maintenance-margin</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/maintenance-margin.svg</image:loc><image:title>Maintenance margin</image:title><image:caption>Stacked diagram of perpetual maintenance margin as the floor under position equity, checked at the mark price.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/leverage</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/leverage.svg</image:loc><image:title>Leverage</image:title><image:caption>Ladder diagram of perpetual leverage showing a fixed notional, more margin, less margin, and a closer liquidation price.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/isolated-margin</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/isolated-margin.svg</image:loc><image:title>Isolated margin</image:title><image:caption>Split diagram of isolated margin fencing collateral inside one perpetual position while the rest of the wallet stays outside.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/cross-margin</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/cross-margin.svg</image:loc><image:title>Cross margin</image:title><image:caption>Stacked diagram of cross margin, where one wallet balance backs several perpetual positions through shared equity.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/liquidation-price</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/liquidation-price.svg</image:loc><image:title>Liquidation price</image:title><image:caption>Layer diagram of a perpetual entry, a stop, the LiquidityFlow liquidation sketch, and the venue ticket's liquidation price.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/liquidation-engine</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/liquidation-engine.svg</image:loc><image:title>The liquidation engine</image:title><image:caption>Flow diagram of a perpetual liquidation from a mark breach, through the engine and the closing fill, to any residual.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/insurance-fund</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/insurance-fund.svg</image:loc><image:title>Insurance fund</image:title><image:caption>Stacked diagram of a perpetual insurance fund filled by liquidation fees and used to cover bankrupt deficits so winners are paid.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/auto-deleveraging</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/auto-deleveraging.svg</image:loc><image:title>Auto-deleveraging</image:title><image:caption>Queue diagram of auto-deleveraging on a perpetual, ranking the most profitable and most levered positions first after the insurance fund is exhausted.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/risk-limits</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/risk-limits.svg</image:loc><image:title>Risk limits</image:title><image:caption>Ladder diagram of perpetual risk-limit tiers, where a larger notional requires more maintenance margin and allows less leverage.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/order-types</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/order-types.svg</image:loc><image:title>Order types</image:title><image:caption>Ticket diagram of perpetual order types: a resting limit, a market order that takes, a stop that waits, and a stop-limit that can miss.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/post-only-and-reduce-only</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/post-only-and-reduce-only.svg</image:loc><image:title>Post-only and reduce-only</image:title><image:caption>Ticket diagram of post-only, which rejects an order that would take liquidity, and reduce-only, which rejects an order that would open a new position.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/stop-orders</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/stop-orders.svg</image:loc><image:title>Stop orders</image:title><image:caption>Flow diagram of a perpetual stop order from the trigger source and trigger price to the order it sends and the fill or the miss.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/reading-the-ticket</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/reading-the-ticket.svg</image:loc><image:title>Reading the ticket</image:title><image:caption>Ticket diagram for reading a perpetual order screen: mark last and index, the funding countdown, margin mode, and liquidation price.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/open-interest</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/open-interest.svg</image:loc><image:title>Open interest</image:title><image:caption>Two-column diagram of perpetual open interest rising when a new long and short open, while volume can rise even when open interest does not.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/position-size</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/position-size.svg</image:loc><image:title>Position size from risk</image:title><image:caption>Stacked diagram of perpetual position size, from a dollar risk and a stop distance to notional, then to margin set by leverage.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/perp-fees</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/perp-fees.svg</image:loc><image:title>Perpetual fees</image:title><image:caption>Stacked diagram of perpetual trading fees on the open fill and the close fill, split by maker or taker, from a dated schedule.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/slippage</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/slippage.svg</image:loc><image:title>Slippage</image:title><image:caption>Order-book diagram of perpetual slippage from the mid price, through the size you trade, to the impact price and the average fill.</image:caption></image:image>
  </url>
  <url><loc>https://www.liquidityflow.io/futures/stacking-costs</loc><lastmod>2026-10-02</lastmod>
    <image:image><image:loc>https://www.liquidityflow.io/images/futures/stacking-costs.svg</image:loc><image:title>How costs stack</image:title><image:caption>Stacked diagram of perpetual trading costs: the open fee, the close fee, funding across the hold, and slippage on the fills.</image:caption></image:image>
  </url>
</urlset>