Liquidation price formula
For an isolated-margin long: liquidation ≈ entry × (1 − 1/leverage + maintenance margin). For a short: entry × (1 + 1/leverage − maintenance margin). At 10x with 0.5% maintenance margin, a long on BTC is liquidated roughly 9.5% below entry.
Exchanges use tiered maintenance margins, fees and funding, so the real price can differ slightly. Always check the liquidation price shown by your exchange.
| Leverage | Approx. move to liquidation (long, 0.5% MMR) |
|---|---|
| 5x | −19.5% |
| 10x | −9.5% |
| 20x | −4.5% |
| 50x | −1.5% |
Exchange futures vs a crypto prop firm
On an exchange your own money is the collateral: a liquidation loses the whole margin. In a crypto prop firm you trade a simulated account; the worst case is failing the challenge and losing its fee. Axora Funded offers 11 crypto pairs from $34, with payouts in USDT.