How leverage works
Leverage does not amplify anything. It shrinks the room the price has to move against you. A multiplier decides distance to liquidation, not upside.
Your multiplier divides how much you can absorb
Put $100 on at 50x and you control $5,000 of exposure, so every 1 per cent the market moves is $50, or half your stake. The market has not become more violent; you have simply shrunk the move you are able to sit through.
Two lines produce everything else, liquidation included. Your exposure is your stake times your multiplier. Your profit or loss is that exposure times the move.
Margin is your stake, exposure is the position
Your stake is the margin you post. Your exposure is the notional position the platform opens against it. A quoted maximum leverage tells you one thing: the smallest margin the platform will take before it opens that exposure for you.
Fees land on exposure, so they scale with you
Costs are charged on exposure, not on stake. A 16 basis point round trip is 0.16 per cent of your exposure whatever your multiplier, which is 1.6 per cent of your stake at 10x and 160 per cent of it at 1000x. That loss is fixed and knowable, and it grows in step with the multiplier you pick.
Your market matters more than your multiplier
Across 45 markets here the middle one dropped 6.12 per cent at its worst in a single session over the last 30, and 45 of them would have closed a 100x long somewhere in that window. Zcash runs at 286 per cent realised volatility and S&P 500 ETF at 13 per cent, so the same 100x ticket is routine on one and a coin toss on the other.
Pick your market first, your multiplier second
Open the market page and read the room column. Find the multiplier whose room is comfortably wider than that market's ordinary daily range, and treat everything above it as a coin toss with a bill attached.