Phemex Unlocks 150x Leverage for BTC and ETH Futures Markets

Phemex, a cryptocurrency derivatives exchange, has increased the maximum leverage available on selected BTC and ETH perpetual futures markets from 100x to 150x.

This change gives experienced traders more flexibility when managing capital and exposure. At the same time, 150x leverage significantly reduces the margin buffer available before liquidation, making it a capital-efficiency feature rather than an invitation to increase risk automatically.

According to Phemex's published risk-limit updates for BTCUSDC and ETHUSDC, maximum leverage of 150x is now available in the lowest position tiers, with higher margin requirements applied as position size increases.

Leverage allows a trader to control a larger notional position with a smaller amount of initial margin. However, this does not mean that a trader can safely lose the entire notional value while risking only a small amount. The position's profit and loss is calculated on the full notional value, and leverage magnifies the effect of price movements on margin.

Phemex has stated that lower or more orderly volatility in the market does not mean low risk, as BTC and ETH can still move sharply during macroeconomic announcements, liquidation cascades, network events, or sudden changes in market sentiment.