The liquidation price is the price at which your position's margin falls to the maintenance requirement and the exchange closes it. It is fixed when the position opens, moves only when you add or remove margin, and is shown in the positions panel of every trading interface.
01A rule of thumb
For a rough estimate, distance to liquidation is close to the inverse of leverage minus the maintenance margin. At 10x with a 0.5% maintenance requirement, the liquidation price sits roughly 9.5% away from entry. At 25x it is about 3.5% away. At 100x under 1%.
The exact formula differs by contract type, margin mode, and fee accounting, which is why traders plan positions with the exchange calculator, not the rule of thumb.
02What moves the liquidation price
Adding collateral moves it further away. Withdrawing collateral or realizing losses on other positions in the same cross-margin account moves it closer. On coin-margined contracts the collateral itself changes value with the market, so the liquidation price moves on its own as the coin price moves.
Maintenance tiers also matter. As a position grows into a higher notional tier its maintenance requirement rises, and the liquidation price jumps closer.
03Clusters and heatmaps
Liquidation prices cluster where leverage is popular, often at round-number leverage levels like 25x and 50x. Tools estimate these clusters from open interest changes and publish them as liquidation heatmaps. When price crosses a dense cluster, forced closures follow, which is why traders watch the map for where the next acceleration might sit.