Edge or Not

Risk disclaimer

Last updated: 21 October 2026

Edge or Not publishes market data, models and the results of our own tests. It is information, not advice. Please read this before using anything on the site to make a trading decision.

Leverage can wipe out your margin fast

Perpetual futures let you trade with borrowed size. The higher the leverage, the smaller the move that liquidates you. With 0.4% maintenance margin, an isolated position is liquidated after a move against it of about:

Crypto prices regularly move several percent within an hour. Exchanges also charge trading fees and funding, and in fast markets the actual exit can be worse than the liquidation price. You can check the arithmetic in our liquidation price calculator.

Models are estimates

The liquidation heatmap is a model: exchanges do not publish where positions will be liquidated, so the map relies on assumptions about leverage and position sides. In our own pre-registered test, price did not move toward the biggest cluster more often than a coin flip would explain (details). A useful picture of the market is not the same as a forecast.

Funding arbitrage is not risk-free

A funding spread between exchanges can close or flip, one leg can be liquidated while the other is not, fees and slippage eat small spreads, and you depend on two exchanges staying solvent and letting you withdraw. The figures on our funding pages show past and current rates, not guaranteed income.

Data can be late, incomplete or wrong

We collect public exchange feeds. They can lag, drop messages or change format. Binance, for example, shows at most one liquidation per contract per second in its public stream, so its totals are a lower bound. Check important numbers on the exchange itself.

Check what is allowed where you live

Crypto derivatives are restricted or banned for retail customers in some countries. In the United Kingdom, for example, the FCA has prohibited the sale of crypto derivatives to retail consumers since January 2021, and many offshore exchanges do not accept US residents. You are responsible for following the rules that apply to you.

No relationship with exchanges

Exchanges are named only as data sources. Naming one is not a recommendation to use it. At the time of writing this site has no affiliate links and receives no payment from any exchange or data provider.

Questions: contact@edgeornot.com.