# Leverage Tier

One tier in a market's leverage schedule, where maximum allowed leverage decreases as position size increases. Used in [`markets`](/for-partners/endpoints/dex-markets.md) as a nested array in `leverageTiers`.

## Schema

| Field                   | Type   | Required | Description                                                                                                         |
| ----------------------- | ------ | -------- | ------------------------------------------------------------------------------------------------------------------- |
| `notionalFloor`         | number | yes      | Minimum notional position size in USD for this tier (inclusive).                                                    |
| `notionalCeil`          | number | yes      | Maximum notional position size in USD for this tier (inclusive). Use a large number (e.g. `1e15`) for the top tier. |
| `maxLeverage`           | number | yes      | Maximum leverage allowed within this notional range.                                                                |
| `maintenanceMarginRate` | number | yes      | Maintenance margin rate as a decimal. e.g. `0.005` = 0.5%.                                                          |

## Example

```json
[
  {
    "notionalFloor": 0,
    "notionalCeil": 50000,
    "maxLeverage": 100,
    "maintenanceMarginRate": 0.005
  },
  {
    "notionalFloor": 50000,
    "notionalCeil": 250000,
    "maxLeverage": 50,
    "maintenanceMarginRate": 0.01
  },
  {
    "notionalFloor": 250000,
    "notionalCeil": 1000000000000000,
    "maxLeverage": 20,
    "maintenanceMarginRate": 0.025
  }
]
```

## Notes

* Tiers should be contiguous — the `notionalCeil` of one tier equals the `notionalFloor` of the next.
* Return tiers sorted ascending by `notionalFloor`.
* `maintenanceMarginRate` is used to determine the liquidation price: position is liquidated when remaining collateral / notional ≤ `maintenanceMarginRate`.


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