Leverage

Leverage is the ratio of an open position’s notional to the margin posted. At 10x leverage, 1,000 USDT of margin opens a 10,000 USDT position.

Direct consequence

When price moves 1%:

• Unlevered: your capital changes by 1%.
• 10x: 10%.
• 50x: 50% — meaning a 2% move in the wrong direction zeroes the margin.

Leverage is a linear multiplier on both gains and losses. There is no asymmetry in the user’s favour.

Where it is available

• CEX (Binance, Bybit, OKX): up to 100–125x on BTC/ETH perps, up to 50x on TON perps.
• TON DEX: Storm Trade supports up to 50–100x depending on the instrument.
• Lending protocols offer synthetic leverage up to ~3x through recursive borrow → swap → supply.
• Spot-CEX margin trading: typically up to 10x.

Cross vs Isolated

Two margin modes:

• Cross. All account margin backs every position; one loss can drain another.
• Isolated. Each position is tied to its own fixed margin; liquidation only affects that slot.

Isolated mode is generally safer for retail: one bad trade does not detonate the rest. Cross is more capital-efficient but more punishing on errors.

Realistic numbers

Empirical CEX data, repeatedly published: 70–80% of retail leveraged traders lose money within six months. The higher the leverage, the higher the loser ratio.

Why:

• Stop hunting: at big leverage a 1–2% move is already enough to liquidate.
• Funding rate compounds; on long-running positions it is a meaningful cost.
• Psychology: fear and greed are louder at 10x.

When leverage makes sense

• Hedging. A small short against a spot holding saves capital.
• Capital efficiency for experienced traders with system and risk management.
• Delta-neutral funding arbitrage.

When it does not make sense: “double down today”, “make it back”, “leverage because everything is up”. That path leads to liquidation.

Leverage is a powerful tool that most users apply incorrectly. If you use it, set a stop-loss and size the position off your risk, not off the available leverage.