Bybit
OKX
Bitget
KuCoin
Binance
Deribit
Phemex
MEXC
BingXWhat leverage multiplies
Profit and loss are calculated on the position. A 2% move on a $10,000 position is $200 whether you posted $10,000 or $500 of margin. What changes is the return on margin: 2% unleveraged, 20% at 10×, 40% at 20×, in either direction.
Fees scale with it too
Trading fees are charged on position value. A 0.05% taker fee on a $10,000 position is $5 per fill. Against $1,000 of margin that is 0.5% per fill, or 1% to get in and out, before the price has moved. At high leverage, fees and funding become a large share of the margin.
Leverage and liquidation distance
Roughly, a position is liquidated after a move of 1 ÷ leverage against it, less the maintenance margin rate: about 10% at 10×, 5% at 20×, 2% at 50×, 1% at 100×. Crypto assets regularly move more than that within a day.
Think in position size and stop distance
The useful question is not which leverage to pick but how much you lose if your stop is hit. Decide the amount you are prepared to lose, decide where the stop goes, and the position size follows: risk ÷ stop distance. Leverage is then only the margin setting that lets you hold that size.
Where to go next
Common questions
Not in dollars for the same position size. But for the same margin, higher leverage means a larger position, and fees are charged on the position, so they rise in step.
Maximums of 100× or more are advertised on major contracts, with lower limits as position size grows and in some jurisdictions. The maximum available is not a recommendation.
This guide explains how a product works. It is not financial advice. Leveraged crypto products can lose your entire margin. Read the risk warning.