Maintenance-distance sketch

Initial margin in the sample is one divided by the leverage you type. Maintenance is the venue file's maintenance fraction, which is half of one over the sample maximum leverage. The sketch subtracts those fractions and moves the entry by that gap.

If the leverage you type is above the sample maximum, the page says the file would reject it and still refuses to call the result a liquidation price. Fees, funding, gaps and partial liquidation are not in the sketch. If initial margin is not above maintenance, the sketch stops.

This note is informational. It is not investment, legal, tax or financial advice, and it is not a recommendation to enter a transaction.