Short: liq = entry x (1 + 1/leverage - mmr)
mmr = maintenance margin rate. Default 0.5%; real exchanges tier it by position size.
What is a liquidation price?
The liquidation price is the level where an exchange force-closes a leveraged position because the remaining margin can no longer cover losses. For a long it sits below the entry price; for a short it sits above it. The higher the leverage, the closer it sits to entry.
How is liquidation price calculated?
A common isolated-margin approximation: long liquidation price = entry x (1 - 1/leverage + maintenance margin rate), and short liquidation price = entry x (1 + 1/leverage - maintenance margin rate). Exchanges compute maintenance margin in tiers that grow with position size, so the exact level varies by exchange and position.
How do I avoid getting liquidated?
Use lower leverage, size positions so normal volatility cannot wipe your margin, set a stop loss before the liquidation price, and on isolated margin add collateral to push the liquidation level further away. Nothing removes the risk entirely; leverage always carries it.