See where a leveraged long or short would be liquidated before you open it. Pick a Bitfinex USDT perpetual and its own maintenance margin is filled in, along with the most leverage that pair allows.
| [ LEVERAGE ] | [ LIQUIDATION PRICE ] | [ DISTANCE ] |
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Isolated margin, at the moment the position opens. Liquidation is judged on the mark price, not the last trade. Funding paid out of the margin later moves the liquidation price toward the mark. On Vectixs paper futures, as the futures ticket says, a liquidation takes the position's whole remaining margin.
For an isolated position, the gap between entry and liquidation comes from leverage and the maintenance rate. The size of the position does not enter into it.
At 10x a long is liquidated a little under 10% below entry; at 50x, a little under 2%. The maintenance rate pulls the price slightly closer still, because the position closes before its margin is fully gone.
Exchanges judge liquidation on a mark price that a single odd trade cannot jolt. A wick in the last-traded price only liquidates a position if the mark follows it there.
The ticket in Vectixs paper futures shows this same figure before you open, then draws it on the chart as a line, with paper money at stake instead of yours.
An isolated position is liquidated when its margin plus its unrealized P&L falls to the maintenance requirement: size times entry price times the pair's maintenance margin rate. With margin equal to size times entry divided by leverage, that point is entry × (1 − 1/leverage + maintenance rate) for a long, and entry × (1 + 1/leverage − maintenance rate) for a short.
Not for an isolated position. A bigger position puts up proportionally more margin, so the two cancel. Only the entry price, the leverage and the pair's maintenance rate move it. Size changes how much margin is at stake, which is why the calculator asks for it.
Some calculators measure the maintenance requirement against the position's value at the liquidation price, which gives entry × (1 − 1/leverage) ÷ (1 − maintenance rate). This one measures it against the entry price, entry × (1 − 1/leverage + maintenance rate), which matches the liquidation price Bitfinex reports on its own perpetual positions and is what the Vectixs paper engine uses. At ordinary rates the two land a small fraction of a percent apart.
Yes. Funding is paid from, or added to, the position's own margin at each settlement. Paying it shrinks the margin and moves the liquidation price toward the mark; receiving it moves it away. This calculator shows the price at the moment you open, before any funding.
No. A cross position shares one pool with every other cross position, so its liquidation price depends on the whole wallet and on the other positions' P&L. The futures ticket inside Vectixs shows that figure for your actual account.
From Bitfinex's public settings for each USDT perpetual, read by Vectixs and refreshed while the page is open. The same settings give each pair's maximum leverage. Choose Custom to enter any rate yourself.
Want to see a liquidation line move with the market rather than just compute it? Futures paper trading on Vectixs opens longs and shorts on Bitfinex perpetuals with paper money. For spot grid and DCA figures, use the grid and DCA calculator. To size a position from your stop-loss, use the position size calculator, and for what holding it costs, the funding rate calculator.