Question about leverage in futures

Hi, I'm trying to understand how does leverage in futures work.

If I long/short a futures contract with 1x leverage, binance requires me to have at least the nominal amount of the contract/s I'm buying. So for instance if I long one BTC contract at 20k, then the initial margin requirement is to have at least 20K. In my account. Then, Binance locks a small quantity of my stablecoins (in terms of USD futures) as maintenance margin.

However, what happens if I use leverage over 1, like for instance 3x? Is the initial margin reduced by 3? Like they only require me to have 1/3rd of the total 20K nominal in my account? Or they require the full nominal as initial margin but that contract gives me 3x exposure to the price movements?