# The terms these plates are read under

The Leverage Ladder desk · Updated: 24 September 2026

A plate in this series is a reading of what a venue prints in its own margin schedule and trading terms,
set beside a measurement of the book standing behind it. Opening one costs nothing and commits a reader
to nothing. What follows is the short list of what the series claims for that reading, and the longer
list of what it does not.

## Reading a plate, and what that does not amount to

A plate is a record, not a recommendation. It sets out what a venue published on a stated day, what
was measured on a stated day, and what one fixed formula makes of the two. It is advice of no kind
— not investment, not legal, not tax, not accounting — and it is neither an offer, an inducement
nor an invitation to trade anything. It is addressed to no one in particular:
nothing here knows a reader's balance, position, experience or intent, and no line of it is adjusted
to any of them.

A place on a plate is not a safety rating and not a piece of diligence done on a reader's behalf. It
says that a venue's own documents and its measured book come to a number under
[the formula](/method) — and says nothing at all about whether that venue will still be trading
next month, whether it will pay out a withdrawal, or whether anybody should send it money.

## The risk under every figure on this site

Every venue written about here sells the same instrument: a perpetual futures contract held on
margin, with no settlement date to bring it to an end. The whole of the margin behind such a position
can be lost. Losing all of it is the ordinary way these trades end rather than a remote one, and the
larger the multiple the smaller the move that finishes them — a move the chart afterwards makes look
like nothing. The close is executed by the venue at a price the trader does not pick.

Derivatives taken on margin are high-risk. Nothing on this site reduces that risk, and no ranking,
ladder, measurement or comparison printed here is a reason to open a position or to size one.

## A figure is true on its date and on no other

Everything numeric in this series carries the day it was taken. A ladder is what a venue's margin
schedule said when it was read. A depth median is what our own repeated reads of a public order book
came to across the window stated beside it. A market figure quoted from the CoinMarketCap derivatives
ranking is what a venue reported there on 22 September 2026, repeated with that day attached rather than
adopted as a measurement of anything.

All of it goes stale, and parts of it go stale quickly. Caps are cut in volatile hours, fee schedules
are rewritten, markets are listed and dropped, and a venue can change its terms between two visits to
this page. Read a figure again at the venue before acting on it. Where the two disagree, the venue is
right and this site is behind.

## Access is settled between a reader and a venue

This site names no country as a condition of using anything on it, and it publishes no map of where
a venue may be traded. Which venues are open to a reader, on what terms, and what obligations follow
from using one are fixed by that venue's own terms and by whatever law reaches the reader where they
are. No line here is a statement that a venue is available or unavailable to anyone.

Establishing that is the reader's work and cannot be handed to a plate. Opening an account, funding
it and trading it are decisions taken by the person taking them, at that person's risk.

## The arrangement this series is published under

Placement on this site is paid for. That is how the series is published, it is written on
[the masthead](/about) as well as here, and nothing anywhere on the site implies a different
arrangement.

What the money does not reach is the formula, which was written down on 18 September 2026 and has not
been altered since — least of all to shift a venue up or down a plate. Nor does it reach a ladder, a
fee or a measurement: each of those is printed with the place it came from and the day it was taken,
so a reader who suspects a row can go and check it.

## Quoting a plate, and the remedy if one is wrong

Quote from these plates freely, with a link to the plate quoted, and carry the date along with the
figure. A number lifted from this site without the day behind it stops being the thing this site
published. Reprinting a plate whole somewhere else, or passing its text off as another publication's
work, is outside that permission.

The series is offered as it stands. There is no warranty that it is complete, current or free of
error, and no liability is accepted for what anyone does after reading it. The remedy on offer is a
correction rather than compensation: show corrections@aurascopeapp.com the figure that has moved,
with the page that shows it, and the plate is read again and set again.

## 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.