About

Leveraged cryptocurrency trading amplifies both gains and losses by a factor of L. A 10× long position on BTC moves your equity 10% for every 1% price increase, but a 10% adverse move eliminates your entire margin. The critical number most traders miscalculate is the liquidation price, P_liq. Exchanges apply a maintenance margin rate m (typically 0.4 - 1.0%) that shifts P_liq closer to entry than the naive 1L estimate suggests. This tool computes P_liq, net PnL after trading fees, and return on equity for both isolated-margin long and short positions. It assumes isolated margin mode. Cross-margin liquidation depends on total account balance and open positions, which requires exchange-specific portfolio data this tool does not model.

Formulas

Liquidation price for an isolated-margin position:

Long: P_liq = P_entry × (1 − 1L + m)

Short: P_liq = P_entry × (1 + 1L − m)

Profit and loss before fees:

Long PnL = Q × (P_exit − P_entry)

Short PnL = Q × (P_entry − P_exit)

Where Q = Margin × LP_entry is the position quantity in base asset units.

Total fees:

F_total = Q × P_entry × f_entry + Q × P_exit × f_exit

Return on equity:

ROE = PnL_netMargin × 100%

Where P_entry = entry price, P_exit = exit/target price, L = leverage multiplier, m = maintenance margin rate, f_entry and f_exit = trading fee rates, Margin = collateral deposited, PnL_net = profit/loss after all fees.

Reference Data

Exchange	Max Leverage	Taker Fee	Maker Fee	Maintenance Margin	Funding Interval	Liquidation Model
Binance Futures	125×	0.040%	0.020%	0.40%	8h	Isolated / Cross
Bybit	100×	0.055%	0.020%	0.50%	8h	Isolated / Cross
OKX	125×	0.050%	0.020%	0.40%	8h	Isolated / Cross / Portfolio
Bitget	125×	0.060%	0.020%	0.40%	8h	Isolated / Cross
dYdX	20×	0.050%	0.020%	3.00%	Continuous	Cross
Kraken Futures	50×	0.050%	0.020%	1.00%	4h	Isolated / Cross
Phemex	100×	0.060%	0.010%	0.50%	8h	Isolated / Cross
BingX	150×	0.045%	0.020%	0.40%	8h	Isolated / Cross
MEXC	200×	0.060%	0.000%	0.50%	8h	Isolated / Cross
Gate.io	100×	0.050%	0.015%	0.50%	8h	Isolated / Cross
Huobi / HTX	200×	0.050%	0.020%	0.50%	8h	Isolated / Cross
Coinbase Intl	10×	0.060%	0.040%	2.00%	1h	Cross

Frequently Asked Questions

The maintenance margin rate shifts the liquidation price closer to your entry. For a long at 10× leverage with 0.5% maintenance margin, liquidation occurs not at a 10% drop but approximately at a 9.5% drop. At higher leverage this difference becomes more significant. A 100× position with 0.5% maintenance margin liquidates at roughly a 0.5% adverse move instead of 1%.

Exchanges apply additional factors: insurance fund contributions, funding rate accrual, ADL (auto-deleveraging) risk tiers, and sometimes use mark price rather than last traded price. This calculator models the core isolated-margin formula. The result is typically within 0.1-0.3% of the exchange value. Always cross-reference with your exchange's position panel.

Fees are applied to the notional value, not the margin. A 0.04% taker fee on a 100× leveraged $100 margin position means fees on $10,000 notional: $4 entry + $4 exit = $8 total. That is 8% of your $100 margin consumed by fees alone before any price movement. At 200× the same fee rate consumes 16% of margin on round-trip.

Isolated margin restricts collateral to the amount assigned to one position. Liquidation is calculated per-position. Cross margin uses your entire account balance as collateral across all open positions. This calculator models isolated margin only, as cross margin requires knowledge of all open positions and total account equity.

Yes. Funding rate payments on perpetual contracts accrue every 4-8 hours. If you hold a long position during extended periods of positive funding rate, your effective margin decreases over time. A position that was safe at entry can be liquidated days later at the same price if cumulative funding payments erode the margin below the maintenance threshold.

Invert the liquidation formula. If you want to survive a 20% drawdown on a long, your maximum leverage is approximately 1 / (0.20 + maintenance_margin_rate). For 0.5% maintenance margin that yields roughly 4.88×. This tool lets you iterate quickly: adjust leverage until the liquidation price distance matches your risk tolerance.