BRVX Glossary · Notional value · Updated September 24, 2026
Notional value is the full market value of a leveraged position — the amount of the asset it controls — as opposed to the margin put up to open it. A position opened with 200 USDT of margin at 25x has a notional value of 5,000 USDT.
The formula
Notional Margin × Leverage Notional Units × Price
Fees and funding are charged on the notional, not on the margin behind it.
How it works
- Margin 200 USDT
- Leverage 25x
- Notional 5,000 USDT
Try it on NVDA/USDT
Live NVDA/USDT tariff. Simplified estimate: opening fee included, closing fee and funding not.
Position size 2,000 USDT
- A 1% move changes your margin by
- ± 20 USDT (8%)
- Move against you to liquidation
- 9.9%
- Opening fee
- 1 USDT
Leverage works both ways: a small move against you can lose you the whole margin.
The formula
Notional value = margin × leverage = quantity × price. For a derivative, it answers the question "how much of the asset am I exposed to?" rather than "how much did I put in?".
Why costs are charged on notional
Trading fees and funding are percentages of notional, not of margin. That is the source of many surprises: the rate looks small, but the base it applies to is several times the money at risk.
Costs on a 5,000 USDT notional on BRVX
| Market | Open fee | Funding for 24 h, long |
|---|---|---|
| BTC/USDT | 5 USDT | 24.66 USDT |
| NVDA/USDT | 2.5 USDT | 2.74 USDT |
| WTIOIL/USDT | 2.5 USDT | 5.48 USDT |
Questions about Notional value
Is notional value the same as position size?
Yes. Position size on a derivatives venue is usually quoted as notional value.
Is notional value what I can lose?
No. With automatic liquidation the loss on a position is limited to its margin, although fast markets can close it at a worse price.
Why does notional matter for funding?
Because funding is a percentage of notional. At 25x, a funding rate costs 25 times more relative to your margin than it would unleveraged.
Notional value: next steps on BRVX
Notional value on NVDA/USDT: pick 5x to 50x, 25x by default, margin in 6 tokens. At 50x, a 1% move is 50% of margin.
Read next: Leverage, Initial margin and Funding rate.
Leverage works both ways: a small move against you can lose you the whole margin.
Open NVDA/USDT in the app
Open appLeverage raises both gains and losses. Start with a size you are comfortable with. Not available to US persons.