What do the leverage slider and the liquidation line mean?

Trade › the order ticket, perpetual markets

On a perpetual, the Leverage slider sets how much of the order value you post as margin. Higher leverage means less margin and a liquidation price closer to the entry. The ticket shows Est. liquidation and, with risk-based sizing on, how many times farther the liquidation sits than your stop. Max N× at this size is the exchange limit for that order.

Step by step

1. LeverageDrag the slider. Margin required updates at once.
2. Est. liquidationThe price at which the exchange would close the position by force, estimated from the order alone.
3. Liquidation vs stopWith Risk-based sizing (auto) on, the ticket shows the liquidation distance as a multiple of the stop distance and warns when the two are close.

Good to know

• A stop that would sit beyond the liquidation price never triggers; the exchange closes the position first. Keep the liquidation well outside the stop.