The liquidation price is the level at which your trading platform closes a leveraged position without asking, because the collateral you posted no longer covers the accumulated loss. You need that single number before you enter, not afterwards. For a long position it can be estimated in one line: liquidation price ≈ entry price × (1 − 1 ÷ leverage + maintenance margin rate). With an entry at $77,000, ten times leverage and a maintenance margin rate of 0.5 percent, the liquidation price works out at roughly $69,685, or 9.5 percent below the entry. The rest of this article explains where each part of that formula comes from, why your exchange shows a slightly different figure, and which running costs squeeze the buffer further.