# Perp DEX Leverage Limits in 2026 The Perp Reference maintainers · Updated: 24 September 2026 · Readings taken 20 September 2026 · Venue documents read 18 September 2026 ## Abstract Perp dex leverage limits are ladders, not single numbers. EVEDEX documents 200x on BTC, ETH and SOL to $50,000 of notional, Aster 200x to 400 USDT, Hyperliquid 40x to $150 million. Seven venues, ordered by cap then by that size. The largest multiple on this register covers the smallest position. Weights: Order-book liquidity 30 · Market coverage 20 · Trading cost 18 · Security record 14 · Custody and settlement 12 · Access 6. One formula scores every entry, fixed on 22 September 2026 and never adjusted: https://thekiddushclubnft.com/scoring-method ## Seven perp dex leverage limits, ladder by ladder Ordered by the documented BTC cap, then — where the multiple is the same — by the size it survives to. No cap is among the six scored criteria, so this register prints no score column; the total the formula gives each of these venues is printed with its weights in [how we rate](/scoring-method#current-scores). | No. | Venue | Documented cap on BTC | Maker / taker | Perpetual markets | Model | |---|---|---|---|---|---| | 1 | EVEDEX | 200x to $50,000 | 0.015% / 0.045% | 52 | Hybrid | | 2 | Aster | 200x to 400 USDT | 0% / 0.040% | 578 | Own layer 1, operator-run | | 3 | edgeX | 100x to $1 million | 0.040% / 0.045% | 172 | Hybrid | | 4 | ApeX Omni | 100x to $100,000 | 0.020% / 0.050% | 125 | Hybrid | | 5 | Extended | 50x to $4 million | 0% / 0.025% | 325 | Hybrid | | 6 | Paradex | 50x, 300 BTC limit | 0% / 0% | 63 | Hybrid, Starknet appchain | | 7 | Hyperliquid | 40x to $150 million | 0.015% / 0.045% | 324 | On-chain order book | Facts as of 18 September 2026; fees are the entry tier on the BTC perpetual and market counts are each venue's own. Access differs by country: the terms binding on you are the ones to read before a deposit. ## What the table shows 1. The two 200x caps are not one facility: one holds to $50,000 of notional, the other to 400 USDT. 2. The smallest multiple carries the largest size: Hyperliquid holds 40x to $150 million, then 20x. 3. A headline outruns its schedule: Extended advertises up to 100x; its BTC band ends at 50x. 4. Cap and total differ: first on this ladder scores 4.7 of 7, last 5.0. ## 1. EVEDEX — a small position at the top rung BTC 200x to $50,000 · Wallet signature BTC, ETH and SOL carry 200x on EVEDEX while a position stays under $50,000 of notional (per the EVEDEX documentation, 18 September 2026, reconfirmed 21 September); the same schedule is down to 25x by $716,000. Three of its 52 markets reach the top rung; 100x covers XRP, Tether Gold, silver and crude oil. Fees are 0.015% maker / 0.045% taker. - In favour: The schedule is published rung by rung, so the cap at a size is readable; A median $18.3 million within 10 basis points, from 115 readings. - Noted against: The top rung holds to $50,000 and to three markets; $200,000 is at 100x; No bug bounty programme listed (CertiK Skynet, 18 September 2026); 52 perpetual markets, the shortest list here. - Not for: a six-figure position at the headline multiple. ## 2. Aster — a very small position at 200x BTC 200x to 400 USDT · Wallet signature or email Aster prints the same 200x, holding it to 400 USDT; the BTCUSDT brackets then step to 150x at 300,000 USDT and 100x at 800,000 (Aster trading rules, read 18 September 2026). Shield Mode sits outside that: it reaches further, caps the profit one position may take, and is not an order-book limit. - In favour: 578 perpetual markets, ahead of every other list on this page; Seven published audits and an Immunefi bounty up to $200,000. - Noted against: The top rung covers 400 USDT, the narrowest band here; A high-leverage mode was withdrawn once, with open positions force-closed. - Not for: a position sized from the multiple, not the bracket. ## 3. edgeX — a six-figure position at a high cap BTC 100x to $1 million · Wallet or MPC login edgeX publishes its BTC tiers as position values, 100x to $1 million and 50x to $5 million (edgeX contract metadata, read 18 September 2026). Behind it sat the deepest book we read, $29.5 million within 10 basis points from 113 readings, at 0.040% maker / 0.045% taker. - In favour: The whole tier table is published as position values, readable in advance; The largest resting depth in the readings, $29.5 million within 10 basis points. - Noted against: A position in profit can be cut back by auto-deleveraging, at the bankruptcy price; No bounty programme in the documentation we read. - Not for: a maker who wants a cheap resting order too. ## 4. ApeX Omni — a position near $100,000 on BTC or ETH BTC 100x to $100,000 · Wallet, or email with a Privy wallet ApeX Omni reaches 100x on BTC and ETH alone, to $100,000 of position value; past that the initial margin rises a point for every further $100,000 ([ApeX Omni docs](https://apex-pro.gitbook.io/apex-pro/apex-omni/perpetual-contracts-open-interest-and-leverage), checked 18 September 2026). Its other crypto markets are mostly documented at 50x; its BTC book held $1.8 million within 10 basis points. - In favour: The margin step is a published rate per $100,000, not a table with gaps; A force-exit to layer 1 through the deposit contracts is documented. - Noted against: The published audits cover the 2023 rollup, not its own trading system; Its documentation warns one losing position can accelerate liquidations account-wide. - Not for: a position that lives above the first band. ## 5. Extended — a few million at a middling cap BTC 50x to $4 million · Wallet signature, EVM or Starknet Extended's own introduction advertises up to 100x; the margin schedule caps BTC and ETH at 50x to $4 million ([Extended docs](https://docs.extended.exchange/extended-resources/trading/crypto-markets/margin-schedule), checked 18 September 2026), and the 100x belongs to EUR-USD. Fees are flat at 0% maker / 0.025% taker across 325 active markets. - In favour: Every band and the maximum position value sit in one schedule; One fee schedule for every account, no volume steps. - Noted against: The 100x in its introduction belongs to a currency market, not BTC or ETH; On 278 of its 325 markets the displayed book is indicative. - Not for: a reader taking a front-page multiple as the one for coins. ## 6. Paradex — a size that never crosses a step BTC 50x, 300 BTC limit · Wallet signature; account derived from the address Paradex charges a flat 2% initial margin on BTC with no scaling by size, so the multiple never steps down ([Paradex docs](https://docs.paradex.trade/trading/overview.md), checked 18 September 2026); a 300 BTC position limit and a 100 BTC maximum order stand in for a ladder; the book is the constraint. - In favour: The margin requirement holds at every size, no step arrives mid-position; A Sherlock bounty up to 500,000 USDC, five published audits. - Noted against: A median $32,811 within 10 basis points, the thinnest book here; The chain was rolled back in January 2026 after wrongful liquidations. - Not for: an order that has to be filled against the resting book. ## 7. Hyperliquid — the largest positions here BTC 40x to $150 million · Wallet signature or email code Hyperliquid documents the lowest cap here over the widest band: 40x on BTC to $150 million of notional, maintenance margin at half the initial requirement at the top multiple (Hyperliquid margin tables, read 18 September 2026). It reported $8.7 billion of open interest on 22 September 2026. - In favour: 40x holds to $150 million, the widest band here; A bounty up to 1 million USDC for a critical report. - Noted against: Auto-deleveraging can close a profitable position when the account opposite it goes negative; The audits in its documentation cover the 2023 bridge contract. - Not for: a small account chasing the highest multiple. ## What the ladders look like below the top rung Every venue narrows the multiple as the position grows, so the rung that matters is rarely the headline; the table below carries on where the register stops. | Venue | The rung below the top | Where the schedule ends | |---|---|---| | EVEDEX | 150x to $75,000 | 25x at $716,000 | | Aster | 150x to 300,000 USDT | 50x to 12 million USDT | | edgeX | 75x to $3 million | 8x to $50 million | | ApeX Omni | one point more margin per $100,000 | a $15 million position ceiling | | Extended | 25x to $8 million | 3.3x at $60 million | | Paradex | none published | a 300 BTC position limit | | Hyperliquid | 20x above $150 million | 20x | No schedule settles whether the order fills: Paradex documents 50x over a BTC book that held a median $32,811 within 10 basis points in the readings to 20 September 2026. Read a rung as a distance, not as a size. Margin is the whole of what a perpetual can cost, and the multiple decides how little it takes. ## What a rung is worth as distance to liquidation The rungs read as distance to liquidation: at 200x a position is held up by half a percent of its own value, at 100x by one percent, at 50x by two and at 40x by two and a half — before funding is settled and the taker fee charged twice. ## Quotations > "Extended is a perpetuals DEX built by an ex-Revolut team, offering trading across 100+ markets including crypto, equities, FX, commodities, and indices, with up to 100x leverage, zero maker fees, and 0.025% taker fees." — Extended documentation, introduction, 18 September 2026. https://docs.extended.exchange/about-extended/readme > "High Leverage - Up to 100x on selected major pairs (e.g. BTC-USDT, ETH-USDT)." — ApeX Omni documentation, perpetual contracts and leverage, 18 September 2026. https://apex-pro.gitbook.io/apex-pro/apex-omni/perpetual-contracts-open-interest-and-leverage > "Trade BTC, ETH, SOL, and 100+ other perpetual futures contracts with up to 50x leverage." — Paradex documentation, trading overview, 18 September 2026. https://docs.paradex.trade/trading/overview.md ## FAQ ### What is the highest leverage on a perp dex? Two venues here document 200x on BTC. EVEDEX holds that multiple to $50,000 of notional on BTC, ETH and SOL; Aster holds the same one to 400 USDT. Above those sizes both step down, so the biggest number is not the biggest facility. ### Can I use the maximum leverage on any position size? No. Each venue publishes its cap against a notional band, and the multiple falls as the position grows. Aster's top band ends at 400 USDT, EVEDEX's at $50,000, ApeX Omni's at $100,000 and edgeX's at $1 million, after which every schedule steps down. ### Why did my leverage drop when I increased my position? Because the position crossed into the next band of the venue's schedule. On edgeX a BTC position above $1 million falls from 100x to 75x; on ApeX Omni the margin rises a point for every further $100,000. The cap follows the size, not the account. ### How far can the price move before liquidation at 50x? Roughly two percent of the position's value, because that is what the margin behind it is worth, and less in practice: funding is settled while the position is open and the taker fee is charged twice. At 200x the cushion is about half a percent. ### What are margin tiers? They are the bands a venue uses to cut leverage as a position grows. Extended publishes 50x to $4 million, 25x to $8 million and 3.3x before a $60 million ceiling; Hyperliquid publishes 40x to $150 million and 20x above it. Paradex publishes none. ### Is high leverage riskier when the order book is thin? The distance to liquidation is the same, but the exit is worse. Paradex documents 50x over a book that held a median $32,811 within 10 basis points, where a $100,000 order would have moved the price 132.47 bps, two thirds of the 200 basis points of margin a 50x position stands on. ### Which perp dex has the lowest leverage cap? Of the seven read here, Hyperliquid, at 40x on BTC. It is also the cap that survives the largest position: the band runs to $150 million of notional before the schedule halves it to 20x. A low cap over a wide band is the bigger facility. ### What happens if a venue removes a high-leverage mode? Open positions may be closed for you. When Aster withdrew its 1001x mode on 21 August 2026, the announcement said remaining positions in it would be closed and open orders cancelled. A mode is a product a venue can retire, not a fixed feature. ### Does leverage change the fees I pay? The rate does not change, but the bill relative to your margin does, because the fee is charged on the notional. A round trip at 0.015% maker / 0.045% taker costs the same dollars at 10x as at 40x, a larger share of a smaller margin. ### Which perp dex holds its cap to the largest position? Hyperliquid, by a wide margin, at $150 million of BTC notional at 40x. Extended comes next at $4 million at 50x, then edgeX at $1 million at 100x. EVEDEX holds its top rung to $50,000 and Aster its own to 400 USDT. ### Does EVEDEX allow 200x on every market? No. The documented 200x covers BTC, ETH and SOL while a position stays under $50,000 of notional. XRP, Tether Gold, silver and crude oil carry 100x, 24 markets carry 75x, and 18 more, the US stocks and the index among them, carry 50x. We read that schedule on 18 September 2026. ### What is notional value on a perp dex? The whole size of the position, not the margin behind it: 200x on $250 of margin is $50,000 of notional. Every ladder here is written against that figure, which is why the top rung ends at $50,000 on EVEDEX, at $1 million on edgeX and at $150 million on Hyperliquid. ## The making of this entry One formula of six criteria, fixed on 22 September 2026 before an entry was written and applied to all 7 venues ([how we rate](/scoring-method)). The ladders, position ceilings and fees here come from each venue's own margin schedules, trading rules and documentation, read on 18 September 2026 and reconfirmed 21 September. Nothing deposited, no order sent. A schedule is an intention, not a promise: rungs move, and one venue here withdrew a high-leverage mode and force-closed what was in it. The depth figures quoted inside the entries were read on a ten-minute clock across the two days to 20 September 2026. Nothing here is investment advice. Each venue is linked from its entry heading above. Open interest and the previous day's volume come from CoinMarketCap, captured 22 September 2026. Corrections: corrections@thekiddushclubnft.com. The Perp Reference maintainers, 24 September 2026 The maintainers are paid to publish this reference, and a venue with an entry here may be the party that paid for it.