Liquidation price, P&L and ROE on a leveraged position — with the open and close fees of 120 exchanges built in.
Position = margin × leverage — $1,000.00 × 10× = $10,000.00Liquidation = entry × (1 − 1/leverage + MM%) — an isolated-margin approximation; your exchange also nets off the closing fee and unpaid funding, so the real trigger sits a little closer to entry.Fees = position × rate + exit value × rate — charged on the whole position, not on your margin. At 10× a 0.05% rate costs 1.05% of your margin round trip.ROE = net P&L ÷ margin — leverage multiplies the percentage move by 10×, in both directions.Funding payments are not included — perpetuals settle a funding rate between longs and shorts every few hours, which is paid to the other side of the trade rather than to the exchange. Compare the exchanges themselves on the fee calculator.
For an isolated long it is entry × (1 − 1/leverage + maintenance margin), and for a short entry × (1 + 1/leverage − maintenance margin). At 10× a long is roughly 10% below entry, at 100× roughly 1%. Exchanges also deduct the closing fee and any unpaid funding before liquidating, so the real trigger sits slightly closer to your entry than this estimate.
Because the fee is charged on the whole position, not on your margin. A 0.055% taker fee on a 50× position costs about 5.5% of your margin for the round trip — before the price has moved at all. That is why the calculator shows fees as a percentage of margin, not just in dollars.
Return on equity: your net profit divided by the margin you posted, not by the position size. Leverage multiplies the percentage price move by the leverage factor, so a 2% move at 25× is a 50% swing on your margin — in both directions.
No. Perpetual futures settle a funding rate between longs and shorts every few hours. It is paid to the trader on the other side rather than to the exchange, it flips sign with the market, and it depends on how long you hold — so it is not part of the fee comparison here.
Futures fees for 120 exchanges, curated from their official schedules and last verified 2026-08-28. Leveraged trading can lose more than your margin; nothing here is investment advice. See also exchange fee comparison · profit calculator.