Each perpetual product has its own leverage curve. These curves determine the size of the position that can be obtained with the leverage available. Each Gemini Derivatives account has the ability to set its Max Leverage.

Leverage is set at the account level and the default is 20x. This can be increased at any time by the customer and decreased provided they have enough Margin Assets Value to adhere to the higher Initial Margin requirements. 

The amount of leverage that can be taken is a function of the position size. The larger the position size, the lower the amount of leverage that is made available to the customer by Gemini.