Examples at the ETH price read
How to calculate a ETH liquidation price
A 10× long on ETH from $2,247.50 is liquidated at about $2,033.99, a 9.5% fall. Higher leverage moves it closer: at 50× a 1.5% fall is enough.
ETH liquidation price by leverage
Positions opened at $2,247.50 on ETH, isolated margin, 0.5% maintenance rate, no margin added. The move that liquidates is the same at any price.
2×
- Move that liquidates
- 49.5%
- Long liquidated at
- $1,134.99
- Short liquidated at
- $3,360.01
- Risk
- Low
3×
- Move that liquidates
- 32.83%
- Long liquidated at
- $1,509.57
- Short liquidated at
- $2,985.43
- Risk
- Low
5×
- Move that liquidates
- 19.5%
- Long liquidated at
- $1,809.24
- Short liquidated at
- $2,685.76
- Risk
- Medium
10×
- Move that liquidates
- 9.5%
- Long liquidated at
- $2,033.99
- Short liquidated at
- $2,461.01
- Risk
- Medium
20×
- Move that liquidates
- 4.5%
- Long liquidated at
- $2,146.36
- Short liquidated at
- $2,348.64
- Risk
- Medium
25×
- Move that liquidates
- 3.5%
- Long liquidated at
- $2,168.84
- Short liquidated at
- $2,326.16
- Risk
- High
50×
- Move that liquidates
- 1.5%
- Long liquidated at
- $2,213.79
- Short liquidated at
- $2,281.21
- Risk
- High
75×
- Move that liquidates
- 0.83%
- Long liquidated at
- $2,228.77
- Short liquidated at
- $2,266.23
- Risk
- High
100×
- Move that liquidates
- 0.5%
- Long liquidated at
- $2,236.26
- Short liquidated at
- $2,258.74
- Risk
- Very high
125×
- Move that liquidates
- 0.3%
- Long liquidated at
- $2,240.76
- Short liquidated at
- $2,254.24
- Risk
- Very high
| Leverage | Move that liquidates | Long liquidated at | Short liquidated at | Risk |
|---|---|---|---|---|
| 2× | 49.5% | $1,134.99 | $3,360.01 | Low |
| 3× | 32.83% | $1,509.57 | $2,985.43 | Low |
| 5× | 19.5% | $1,809.24 | $2,685.76 | Medium |
| 10× | 9.5% | $2,033.99 | $2,461.01 | Medium |
| 20× | 4.5% | $2,146.36 | $2,348.64 | Medium |
| 25× | 3.5% | $2,168.84 | $2,326.16 | High |
| 50× | 1.5% | $2,213.79 | $2,281.21 | High |
| 75× | 0.83% | $2,228.77 | $2,266.23 | High |
| 100× | 0.5% | $2,236.26 | $2,258.74 | Very high |
| 125× | 0.3% | $2,240.76 | $2,254.24 | Very high |
Liquidation price formula
Position = margin × leverage
Long: liquidation = entry × (1 − 1 ÷ leverage + maintenance rate)
Short: liquidation = entry × (1 + 1 ÷ leverage − maintenance rate)
With extra margin: move that liquidates = (margin + extra margin) ÷ position − maintenance rate
This calculator uses a 0.5% maintenance rate, so at 10× the move that liquidates is 1 ÷ 10 − 0.5% = 9.5%.
Isolated vs cross margin
On isolated margin only the position's own margin can be lost, so liquidation sits where that margin runs out. On cross margin the account's free balance backs the position too: liquidation moves further away, and the whole balance is at risk. A 10× long on ETH from $2,247.50 with $500.00 isolated is liquidated at $2,033.99; on cross with $1,000.00 more in free balance, at $1,584.49.
Why does my exchange show a different liquidation price?
Exchanges raise the maintenance rate as a position grows, take fees out of the margin and trigger liquidation on the mark price, not the last trade. At a 1% maintenance rate instead of 0.5%, the same 10× long on ETH from $2,247.50 is liquidated at $2,045.23 instead of $2,033.99. Funding paid from isolated margin moves it too. This calculator also takes the maintenance margin on the position's value at entry; exchanges take it on its value at the mark price, so their liquidation price differs slightly.
Questions
What is leverage in crypto futures?
Leverage sets the position's size as a multiple of the margin: 10× on $500.00 opens a $5,000.00 position. Gains and losses follow the whole position, so the same price move counts for more against the margin, and liquidation sits closer to entry: at 10×, a 9.50% move against you.
What is the difference between P&L and ROE?
P&L is the result in money; ROE is that result as a percentage of the margin. A 10× position on $500.00 is worth $5,000.00, so a 1.00% move in your favor makes $50.00 before fees, which is 10.00% ROE.
How much leverage is too much?
There is no safe number, but the trade-off can be measured. Around 9.75× a 1.00% move pays as much as the cushion before liquidation; above it each extra turn of leverage buys payoff by shrinking the cushion. At 2× a 49.50% move liquidates a position; at 125×, 0.30%.
Should my stop be above the liquidation price?
For a long, yes: a stop below the liquidation price is never reached, because liquidation closes the position first. A 10× long on ETH from $2,247.50 is liquidated at $2,033.99. A stop halfway, at $2,140.74, caps the loss at $237.51 (47.50% of the margin) before fees instead of the whole $500.00. For a short, the stop goes below the liquidation price.
Why add extra margin?
Extra margin keeps the position the same size and moves liquidation further from entry. A 10× long on ETH from $2,247.50 with $500.00 margin is liquidated at $2,033.99; with $250.00 added, at $1,921.61. The same profit is then a smaller share of the margin, and the extra is lost too if the position is liquidated.
Does funding move my liquidation price?
Yes, on isolated margin. Funding is paid from or into the position's margin, so it moves liquidation closer or further. At 0.01% every 8 hours a $5,000.00 position pays $0.5 each time; after 30 days that is $45.00, which moves a 10× long on ETH from $2,247.50 from $2,033.99 to $2,054.22.
This is analysis, not advice. Prices move; you can lose money.