← THE CHARTSPOD LEDGEROPEN TERMINAL →
RISK · LEVERAGE AND NOTIONAL

Leverage and Position Notional: A Worked Crypto Example With Fees Included

Leverage changes how much margin a position ties up. It does not change notional, and fees are charged on notional.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

Notional = size × price; margin = notional ÷ leverage; fees are charged on notional. Example: 0.153 BTC at $60,000 is $9,180 notional. At 5× leverage, margin is $1,836; at 20×, $459. Taker fees at 0.05% cost about $4.59 per side either way. Loss at a $900 stop is about $138 plus fees regardless of leverage. Higher leverage frees margin but moves liquidation closer.

Worked example

StepValue
Size0.153 BTC
Notional$9,180
Margin at 5×$1,836
Margin at 20×$459
Fee per side (0.05% of notional)≈ $4.59
Loss at $900 stop≈ $138 + fees
Margin required for the same $9,180 positionMargin required for the same $9,180 position: 2× 4,590 $; 5× 1,836 $; 20× 459 $.MARGIN REQUIRED FOR THE SAME $9,180 POSITION2×$4,5905×$1,83620×$459
Same notional, same fees, same stop loss. Original ChartsPod editorial graphic.

What leverage really changes

Leverage changes / doesn't changeLeverage changes / doesn't change. Left, Changes: Margin used; Distance to liquidation; Capital free for other uses. Right, Doesn't change: Notional exposure; Fees; Loss at the stop.CHANGESMargin usedDistance to liquidationCapital free for other usesDOESN'T CHANGENotional exposureFeesLoss at the stop
Leverage is a margin setting, not a risk setting. Original ChartsPod editorial graphic.

See Leverage vs Risk per Trade: Why a Small Margin Can Still Lose More for margin modes.

Conclusion

Related: Leverage vs Risk per Trade: Why a Small Margin Can Still Lose More, Liquidation Buffer: A Worked Crypto Example With Fees Included.

Plan the same calculation with ChartsPod's position planner.

Open the ChartsPod terminal

Notional = size × price; margin = notional ÷ leverage; fees are charged on notional.

Test Leverage and Position Notional on a perpetual chart; no account is needed to chart.

Launch ChartsPod

Questions readers ask

Are fees charged on margin or notional?

On notional.

Does leverage change my loss at the stop?

No; size and stop distance do.

Why use lower leverage?

Liquidation sits further away.

Sources and methodology

Arithmetic uses standard sizing formulas. Fee rates (0.05% taker, 0.02% maker), slippage and funding values are illustrative; check your venue's schedule. Liquidation figures are simplified approximations; exchanges calculate them with their own maintenance-margin rules (see Bybit's documentation).

  1. Bybit: Liquidation process — mark price and margin modes.
  2. ChartsPod: product overview, pricing and FAQ — free terminal, venues, modules, no order placement; checked 17 Oct 2026.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.