#比特币对比代币化黄金 How much leverage should you use for perpetual contracts? I get asked this question three times a day.

$CITY $1000LUNC $XNY

Last week at an offline meetup, as soon as I sat down, someone came over and asked: "Bro, how much leverage do you usually use for perps?" Before I could answer, the guy next to me jumped in: "I usually go 30 to 50x all year." I teased him on purpose: "Why not just max out at 100x then?" He replied instantly: "That stuff gets liquidated too fast, you don’t even have time to react."

I laughed right then—see, deep down, everyone knows the truth.

Leverage, at its core, is like licking blood off a knife’s edge. 50x is slow-motion suicide, 100x is immediate death—the only difference is how many seconds the market gives you to struggle.

Let’s run the numbers: take BTC for example, 30x leverage can only withstand a 16% move against you, 50x leaves you with just 10%, and at 100x, you’re down to 5%. Use 1x? That’s solid as a rock, but your gains crawl like a snail. Go 100x? Sure, it feels great, but without stop-loss or discipline, your account can get wiped in a blink.

What really liquidates you isn’t the leverage itself.

It’s the urge to turn a few hundred bucks into tens of thousands in profit, and that false hope that makes you refuse to close a position even when your margin is almost gone. As soon as the market wobbles, you’re swept out the door.

The worst isn’t calling the direction wrong, it’s getting the direction right but overleveraging, getting shaken out by a normal pullback, then having to watch the price rocket where you predicted it would go. If you know, you know.

So the real question isn’t “how much leverage can you use,” but “can your margin withstand normal volatility.” That’s the line between life and death.

Three hard rules, carve them into your DNA:

First, always use isolated margin. Cross margin is like tying all your assets to a single fuse—you don’t know who’s going to light it.

Second, always set a stop-loss. The moment you start holding a losing position, the countdown to liquidation begins—don’t count on luck.

Third, don’t get greedy. With $5,000 principal, steadily making $50 to $100 a day compounded is way better than risking it all in one go.

Leverage doesn’t amplify the market, it amplifies human nature—your greed and your discipline both get magnified.

A 100x position with proper risk control is ten thousand times safer than a brainless 5x hold. Perpetual trading isn’t about who’s gutsier, it’s about who survives the longest. A clear system and controllable risk are the only ways to walk out of this market with a smile.