Liquidation and Risk on Swapmos

Liquidation is not a margin call. Once equity drops below maintenance margin the position is closed automatically, and the loss plus a liquidation fee comes out of your account. Mark price drives that check, so a wick on the tape that leaves the mark alone does nothing. Cut size, add collateral, or close early: those are the only three levers you have.

Taking you to the live market

Leverage works in both directions. At 100x, a 1% move against a position takes out all of the margin behind it.