diff --git a/freqtrade/rpc/api_server/api_schemas.py b/freqtrade/rpc/api_server/api_schemas.py
index 0e36c0992..6ba65d0ec 100644
--- a/freqtrade/rpc/api_server/api_schemas.py
+++ b/freqtrade/rpc/api_server/api_schemas.py
@@ -67,7 +67,6 @@ class Balance(BaseModel):
     stake: str
     # Starting with 2.x
     side: str
-    leverage: float
     is_position: bool
     position: float
     is_bot_managed: bool
diff --git a/freqtrade/rpc/rpc.py b/freqtrade/rpc/rpc.py
index 3feb4860c..aee8bd725 100644
--- a/freqtrade/rpc/rpc.py
+++ b/freqtrade/rpc/rpc.py
@@ -742,7 +742,6 @@ class RPC:
                     "est_stake_bot": est_stake_bot if is_bot_managed else 0,
                     "stake": stake_currency,
                     "side": "long",
-                    "leverage": 1,
                     "position": 0,
                     "is_bot_managed": is_bot_managed,
                     "is_position": False,
@@ -764,7 +763,6 @@ class RPC:
                     "est_stake": position.collateral,
                     "est_stake_bot": position.collateral,
                     "stake": stake_currency,
-                    "leverage": position.leverage,
                     "side": position.side,
                     "is_bot_managed": True,
                     "is_position": True,
diff --git a/freqtrade/rpc/telegram.py b/freqtrade/rpc/telegram.py
index 8eaa970c8..22b574621 100644
--- a/freqtrade/rpc/telegram.py
+++ b/freqtrade/rpc/telegram.py
@@ -1133,7 +1133,6 @@ class Telegram(RPCHandler):
                     curr_output = (
                         f"*{curr['currency']}:*\n"
                         f"\t`{curr['side']}: {curr['position']:.8f}`\n"
-                        f"\t`Leverage: {curr['leverage']:.1f}`\n"
                         f"\t`Est. {curr['stake']}: "
                         f"{fmt_coin(curr['est_stake'], curr['stake'], False)}`\n"
                     )
diff --git a/freqtrade/wallets.py b/freqtrade/wallets.py
index 2840d9335..f888ef92e 100644
--- a/freqtrade/wallets.py
+++ b/freqtrade/wallets.py
@@ -29,7 +29,7 @@ class Wallet(NamedTuple):
 class PositionWallet(NamedTuple):
     symbol: str
     position: float = 0
-    leverage: float = 0
+    leverage: Optional[float] = 0  # Don't use this - it's not guaranteed to be set
     collateral: float = 0
     side: str = "long"
 
@@ -157,7 +157,7 @@ class Wallets:
                 continue
             size = self._exchange._contracts_to_amount(symbol, position["contracts"])
             collateral = safe_value_fallback(position, "collateral", "initialMargin", 0.0)
-            leverage = position["leverage"]
+            leverage = position.get("leverage")
             _parsed_positions[symbol] = PositionWallet(
                 symbol,
                 position=size,