What's the exact formula where I can calculate my liquidation price on Bitfinex for a leveraged position?

What's the exact formula where I can calculate my liquidation price on Bitfinex for a leveraged position?

The following variables are given:

Exchange: Bitfinex

Funds: $10,000 USD BTC Price: $1000 Use Leverage of: 2x = $20,000 USD

Say I wanted to go long Bitcoin thinking it would be above $1000 in the next 6 months. I buy 20k USD worth of BTC (20 btc) at the $1000 price.

  • What does the price of btc have to drop before I lose my initial investment of $10,000?
  • What is the formula for something like this when using Bitfinex exchange?
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