Someone shared a ZEC perpetual futures position: 10x leverage long, holding about 1,014 ZEC, notional value of $1.53 million, margin of $153,000. Entry price was about $1,509 and the current price about $1,510. The unrealized profit is 0.85%, or about $1,296, and the position has been open for less than a day. What really matters isn’t this unrealized gain—it's the 5.32% liquidation buffer: the liquidation price is about $1,430, only a little over 5% away from the current price. With 10x leverage, that buffer isn’t thick. A 5% intraday swing in ZEC isn’t unusual. Even if the direction is right, it may not withstand a sudden wick. The position is his, but the leverage cuts both ways—gains and losses are both on the line.