How leverage works on BRVX

Key takeaways

1. Leverage multiplies the position, not your judgement. Profit and loss are calculated on notional, not on margin.
2. The maximum is per instrument. The headline number for the venue does not apply to the market you are about to trade.
3. Funding is charged on notional every hour on most markets, so leverage multiplies the holding cost by the same factor it multiplies the position.
4. Liquidation distance shrinks as leverage rises. That is arithmetic, not a risk setting.
5. The same margin tokens work on every market, so it is easy to open several positions at once. Add up their total size, not each one alone.

What leverage actually changes

Committing 1,000 USDT at 10x opens 10,000 USDT of notional. Every calculation that matters after that runs on the 10,000, not on the 1,000: profit, loss, fees and funding.

A 1% move against a 10,000 USDT position is 100 USDT — a tenth of the collateral behind it. At 50x the same 1% move is 500 USDT against 1,000 USDT of collateral. Nothing about the market changed; the ratio did.

• Higher leverage does not increase your edge. It increases the size of the outcome either way.
• Position sizing is the decision. Leverage is the mechanism that expresses it.
• The number to check before an order is the liquidation price, not the multiple.

The cap is per instrument, not per venue

BRVX sets the maximum leverage on each instrument separately rather than as one venue-wide number. Every market starts at 5x; the caps run from 50x on NVDA and TSLA to 150x on BTC, SOL and EUR, with most crypto markets at 100x and stocks between 50x and 100x.

This is the single most common misreading of any leveraged venue. A headline figure describes the ceiling somewhere on the platform, not the ceiling on the contract in front of you. Check the limit on the instrument you intend to trade before you size anything.

Six margin tokens, every market

Margin on BRVX can be posted in USDC, BTC, ETH, USDT, SOL or BNB, and the same list applies to all 41 markets: a crypto perpetual, an equity perpetual and a commodity perpetual take the same tokens.

That is convenient, and it makes it easy to stack exposure. Several positions that each look modest can add up to more risk than you meant to take; if two of them are correlated, you are holding one larger position wearing two names. Whether BRVX margin is isolated per position or shared across the account is not stated here, so size each position as if its margin can be lost in full.

• Read total exposure across the account, not position by position.
• Correlated markets do not diversify your risk. They concentrate it.
• Collateral posted in BTC or ETH moves in value while it is backing a position.

What it costs to hold

Every BRVX market is a perpetual future, so there is no expiry date and no roll. The mechanism that keeps a contract with no expiry near the price it tracks is funding: a periodic payment between the long and short sides of the market, paid trader to trader rather than to the venue. On BRVX it settles hourly.

Funding is calculated on notional. At 50x, 1,000 USDT of collateral supports 50,000 USDT of notional, and funding is computed on the 50,000. A rate that looks negligible against notional is a very different number against the capital actually at risk — and with hourly settlement it accrues 24 times a day for as long as the position is open.

Work out what funding costs across your intended holding period at the current rate. Then work it out again at several times that rate, because funding is variable and moves hardest exactly when the book is one-sided.

The same 1,000 USDT at three leverage settings

Before you place the order

1. 01

   Check the instrument's cap

   Maximum leverage is per market. Find the limit on the contract you are trading rather than assuming the venue headline applies to it.

2. 02

   Decide the loss you accept

   Start from the amount you are willing to lose on this position, then work backwards to a size. Choosing a multiple first and discovering the risk afterwards is the wrong order.

3. 03

   Read the liquidation price

   Not the leverage number — the price. Ask whether the market has moved that far in a single session in the last year. If it has, the position is too large.

4. 04

   Price the funding

   Multiply the current rate by your notional and by the number of hours you expect to hold. Then stress it. Hourly charges add up quietly.

5. 05

   Look at the whole account

   Add up total notional across open positions and check what one correlated move would do to all of them at once.

Where the position stops being yours

Liquidation is the automatic close-out of a position once losses have consumed the margin down to the maintenance level. It is not a warning and it does not ask. The engine closes the position at whatever the market is paying, and slippage on that close is charged to the position.

Leverage sets the distance to that point, and the relationship is unforgiving: doubling the leverage roughly halves the move you can absorb. On equity, commodity and index perpetuals there is a second dimension — those markets keep trading when the underlying exchange is closed, so a position can be liquidated overnight or at the weekend at a price the underlying market never printed, with no way to hedge in the underlying because it is shut.

Availability

BRVX does not provide services to U.S. citizens, U.S. residents or persons located in the United States. Availability of individual markets and leverage limits may also vary by jurisdiction, platform stage and risk controls.