Leverage and liquidation

The tiers

Limits are set per contract and change over time. The largest contracts list the highest maximums — BTC lists up to 50x — while smaller and stock contracts list less. The live contract always shows its current maximum, so check there before sizing a position.

The math that matters

At 20x, a 5% move against you consumes your margin. At 10x, a 10% move does. Reported maintenance margin on a 20x market is 2.5%: when account equity falls below the maintenance threshold, positions are force-closed — that is liquidation, and your collateral in the position is gone.

Margin modes

Isolated margin (risk ring-fenced per position) is the default; cross-margin — one balance backing many positions, shared with your prediction-market balance — is available and powerful, but a single bad position can then drain the whole account. Beginners: isolated, 1–3x, defined exit before entry.