Last trade price

Also called last price · last print

The price of the most recent print in a market — useful for noticing something, useless for deciding anything.

Divergence rows carry both kinds of number and label them differently for a reason: the last-trade prices on each venue produce the gross gap that makes a row interesting, while the ask and bid quotes produce the number anyone is allowed to size from. The two diverge most exactly where it matters most — thin books, longshots, and anything that has not traded in an hour.

A single stale print can also invert a relationship that logic forbids. In the implication scanner, where event A cannot happen without event B, a last price on A above the last price on B is arithmetically impossible for real probabilities. It happens on the tape all the time, because one small print at an odd price sits there until someone trades again. Those inversions are surfaced as signals to investigate and are never sized, precisely because lasts are not executable.

The rule that follows is short. Use the last trade to notice that something moved. Use the executable ask to decide whether to act, and to compute what acting costs.

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Definitions describe how Polymarket and Kalshi behave and how WhaleTracks models them; venue rules and fee schedules can change, so confirm anything you size a position on with the venue itself. WhaleTracks is informational analytics, not financial advice. Past performance does not guarantee future results.