# Who sets these plates The Leverage Ladder desk · Updated: 24 September 2026 Leverage Ladder is the name on this series and the editorial team that sets it. The team reads one thing across crypto perpetual venues and prints it three ways: the multiple a venue advertises, the position size that multiple still holds to in the venue's own margin schedule, and the measured depth of the book a position of that size has to be closed into. Ten venues are measured here — Aevo, ApeX Omni, Aster, dYdX, edgeX, EVEDEX, Extended, Hyperliquid, Lighter and Paradex — and six of them are ranked. A plate is ordered by the size a rung holds to, so a venue takes a place on one only when it publishes that size beside the multiple; Lighter, Paradex, dYdX and Aevo publish a cap with no band underneath it, and are named on the plates rather than placed on them. Every plate is built on the same five criteria, fixed on 18 September 2026 before a venue was read against them. ## How a plate is made - Ladders, notional tiers, fees, market counts, audit records and bounty pages come from each venue's own margin schedule, trading terms and documentation, read on 18 September 2026, and every one of them is printed with that date beside it. - Where a venue's summary page and its margin schedule print different numbers, the schedule goes on the plate and the text names both. A multiple that survives only to a small position is reported with that size attached and never on its own. - Depth, spread and price impact are ours. A script polls the public BTC perpetual order book of 28 venues every ten minutes, and each median printed carries the count of reads behind it, between 93 and 121 on the ten venues measured here. - Open interest and 24-hour volume are carried exactly as CoinMarketCap published them on 22 September 2026: a venue's own reporting, repeated with that date attached and left at that. Neither number is read here as depth, and neither touches a score. - One formula orders every plate. Its five weights live on [the method plate](/method) and nowhere else on this site. What a plate is about — a rung at 100x, an alternative to one venue, the cost of a round trip — decides which venues appear on it and which figure sets the sequence. It never moves a weight. ## What is not on any plate No account was opened on any venue here, no order was placed and no money was deposited. That leaves a class of question unanswered on purpose: how a large withdrawal is actually paid, how support answers when a liquidation is disputed, what happens in the hour a chain halts. Where a public incident record exists it is quoted and dated. Where none exists, the plate says so rather than guessing at it. A score here is arithmetic and stops there: one published formula run across what a venue prints in its own schedule and what we measured in the book behind it. It recommends no venue to anybody, and nothing on this site is investment advice. The instrument under all of it is a perpetual held on margin. At the hundredfold rung one percent the wrong way is the entire margin; funding is charged for every hour the position stays open; and the fee comes off the levered notional rather than off the money standing behind it. ## Who pays for these plates Placement on this site is paid for, and these plates are not independent, not unbiased and not unsponsored. No line on this page or on any other page here suggests otherwise. What the payment does not buy is the order of a table, or a place on one. Every sequence on this site comes from the published formula applied to figures that carry their source and their date, or from a venue's own ladder as that venue publishes it, and the register that decides who is ordered at all is a published rule rather than a favour: the venue prints the size its top rung holds to, or it is named without a place. No venue on these plates is boxed, badged, tinted or marked out from the rest, and every venue here — the one heading a plate as much as the one closing it — is given at least two documented shortcomings, drawn from its own terms or from what the public record holds against it. ## What this domain printed before This address carried something else before it carried these plates. Until 2025 it published a consumer mobile application, and on a second page a token issued alongside it. That project is finished. Leverage Ladder has no affiliation with Favs HQ, Inc., with the product formerly published here, or with any token connected to it, and speaks for none of them. No name, mark, ticker, wording, artwork or account handle from that site is reused anywhere on this one, and nothing printed here is a statement by or about that company or the people who ran it. ## Corrections, and when a plate is reset Corrections go to corrections@aurascopeapp.com. Send the address of the plate and a link to the page carrying the current figure; that is acted on faster than an argument about it. A plate that changes is set again and carries a new date when it is. A date is never advanced by itself: it moves when a figure, a rung or a measurement moves, and at no other time. There is no timetable printed here and none promised: a rung can be cut in an hour and restored in the next, so the date beside a figure says when it was read and nothing more. ## Plates in this series - [The ladder](https://aurascopeapp.com/best-crypto-leverage-trading-platform) - [At 100x](https://aurascopeapp.com/best-crypto-exchange-for-100x-leverage) - [Every venue](https://aurascopeapp.com/leverage-trading-platforms-list) - [Method](https://aurascopeapp.com/method) - [Cost](https://aurascopeapp.com/crypto-leverage-trading-fees-compared) - [At the book](https://aurascopeapp.com/highest-leverage-crypto-exchange) - [About](https://aurascopeapp.com/about) The Leverage Ladder desk, 24 September 2026. Corrections: corrections@aurascopeapp.com. A plate is paid for.