Why the results differ
The exchanges in this table liquidate a position when its margin falls to the maintenance margin, but each one defines that threshold its own way. Binance, Bybit, Gate, Bitget and Hyperliquid tier by position value and apply the rate at the liquidation price. OKX and MEXC tier by number of contracts. KuCoin and BingX pick the tier from the value at entry, and MEXC and BingX also compute the maintenance margin at entry. OKX, Gate, Bitget and KuCoin add a fee to the threshold. Maximum leverage and tier sizes also differ by contract, so a position that fits the first tier on one exchange can already be in the second tier on another.
Each exchange's page explains its formula with a worked example:
- Binance liquidation formula
- OKX liquidation formula
- Bybit liquidation formula
- Gate liquidation formula
- Bitget liquidation formula
- Hyperliquid liquidation formula
- MEXC liquidation formula
- KuCoin liquidation formula
Funding rates
The funding column converts each exchange's current rate to an 8-hour equivalent, because Hyperliquid pays funding every hour and some contracts on other exchanges settle every 4 or 1 hours. A positive rate means longs pay shorts. Prices and rates refresh every few minutes; the note under the table shows how current they are.