The Cost of a 50x Leverage
At 3 a.m., Zhang Wei stared at the K-line chart on his phone. His eyes were bloodshot.
Over the past six hours, FTT’s price had shot up like a rocket—from 0.2073 to 0.3462, a gain of more than 60%. And in his account, that 50x-leverage short position was bleeding uncontrollably.
“Impossible for it to rise this much,” Zhang Wei muttered. His fingers refreshed the page without him even noticing. “FTT is a zero-to-nothing coin. Any bounce is a chance to short.”
Three days ago, when FTT was still hovering around 0.21, Zhang Wei was confident and opened the short. He’d done the math: based on an entry price of 0.21 and 50x leverage, if it fell to 0.18 he’d make nearly 70%. If it dropped to 0.15, that would be a double.
He even posted a status update on the Binance Square: “FTT is dead—short to get rich.”
That post got more than 200 likes.
Now, those 200 likes felt like 200 slaps.
His liquidation price was at 0.3350. Zhang Wei looked at the current price—0.2967—and realized he had less than 4% left before getting wiped out. Sweat formed in his palms, and his heartbeat pounded as if it would burst out of his chest.
“Add margin?” He opened his account balance—there were only a little over 300 USDT left. Even adding more wouldn’t change the outcome. With 50x leverage, 300 bucks couldn’t even last ten minutes.
“Close part of the position?” He tried tapping the close button, but the slippage was too high. With a 50x position, a market close could smash straight through the order book.
Time ticked by second by second. 0.30, 0.31, 0.32.
Zhang Wei felt his breathing getting harder and harder. He remembered the day last month when he got paid and transferred his 3,000-yuan living expenses into his futures account. Back then he was thinking: “Take the gamble—one day you’ll go from a bicycle to a motorcycle.”
0.33.
His phone suddenly vibrated—Binance’s liquidation notice.
“Your FTTUSDT perpetual contract position has been forcibly liquidated.”
Zhang Wei stared at the words, his mind going blank. He opened the trade history: liquidation price 0.3352, loss amount 2987.63 USDT.
Account balance: 12.37 USDT.
He turned off his phone, lay on the bed, and stared at the ceiling. Outside, the sound of sanitation trucks drifted by. It was almost dawn.
Three days later, Zhang Wei opened Binance again. FTT had pulled back from the highs and was now trading sideways around 0.29. His account only had those 12 USDT left—there wasn’t even enough for the fees.
But he didn’t uninstall the app.
Because he’d seen people on the Square posting screenshots, saying they shorted NIL and made eight times.
Zhang Wei’s fingers started itching again.
#合约爆仓 #FTT #杠杆交易
At 3 a.m., Zhang Wei stared at the K-line chart on his phone. His eyes were bloodshot.
Over the past six hours, FTT’s price had shot up like a rocket—from 0.2073 to 0.3462, a gain of more than 60%. And in his account, that 50x-leverage short position was bleeding uncontrollably.
“Impossible for it to rise this much,” Zhang Wei muttered. His fingers refreshed the page without him even noticing. “FTT is a zero-to-nothing coin. Any bounce is a chance to short.”
Three days ago, when FTT was still hovering around 0.21, Zhang Wei was confident and opened the short. He’d done the math: based on an entry price of 0.21 and 50x leverage, if it fell to 0.18 he’d make nearly 70%. If it dropped to 0.15, that would be a double.
He even posted a status update on the Binance Square: “FTT is dead—short to get rich.”
That post got more than 200 likes.
Now, those 200 likes felt like 200 slaps.
His liquidation price was at 0.3350. Zhang Wei looked at the current price—0.2967—and realized he had less than 4% left before getting wiped out. Sweat formed in his palms, and his heartbeat pounded as if it would burst out of his chest.
“Add margin?” He opened his account balance—there were only a little over 300 USDT left. Even adding more wouldn’t change the outcome. With 50x leverage, 300 bucks couldn’t even last ten minutes.
“Close part of the position?” He tried tapping the close button, but the slippage was too high. With a 50x position, a market close could smash straight through the order book.
Time ticked by second by second. 0.30, 0.31, 0.32.
Zhang Wei felt his breathing getting harder and harder. He remembered the day last month when he got paid and transferred his 3,000-yuan living expenses into his futures account. Back then he was thinking: “Take the gamble—one day you’ll go from a bicycle to a motorcycle.”
0.33.
His phone suddenly vibrated—Binance’s liquidation notice.
“Your FTTUSDT perpetual contract position has been forcibly liquidated.”
Zhang Wei stared at the words, his mind going blank. He opened the trade history: liquidation price 0.3352, loss amount 2987.63 USDT.
Account balance: 12.37 USDT.
He turned off his phone, lay on the bed, and stared at the ceiling. Outside, the sound of sanitation trucks drifted by. It was almost dawn.
Three days later, Zhang Wei opened Binance again. FTT had pulled back from the highs and was now trading sideways around 0.29. His account only had those 12 USDT left—there wasn’t even enough for the fees.
But he didn’t uninstall the app.
Because he’d seen people on the Square posting screenshots, saying they shorted NIL and made eight times.
Zhang Wei’s fingers started itching again.
#合约爆仓 #FTT #杠杆交易