How leverage works in crypto futures Suppose you believe Bitcoin will rise, so you open a long position. Your margin: $20 Leverage: 5× Position size: $100 Bitcoin rises 3%: approximately $3 profit. Bitcoin falls 3%: approximately $3 loss. If you open a short position, you are betting that the price will fall instead. Remember: leverage does not make the market more likely to move in your direction. It magnifies the financial effect of the movement.