Leverage

Is leverage the same as available margin?

Often in crypto, "leverage" is used in the context of a single perp position. WCM is different in that it looks at portfolio-level, instead of position-level risk. While Available Margin & Collateral is not exactly the same as "leverage", these concepts are related in that they are different ways to measure and manage risk.

When you choose the size of your position, you are using your whole portfolio as collateral. Your leverage is not configured as a setting in the order panel. Instead, it is implied by the size of your positions. Your max leverage available in any single position is also determined by your whole portfolio.

Portfolio Leverage

Leverage can be calculated as the total size of your positions divided by your total balance (the sum of the USDT value of your spot assets).

On WCM, users can safely take higher amounts of leverage for hedged portfolios, enabled by ATLAS - WCM's Risk Engine.

This metric is a helpful heuristic to some traders; it is not used in any calculations and does not trigger liquidation.