The leverage shown for your position depends on the collateral in that position and collateral changes with the PnL. The exposure to the asset stays the same, it’s just that after some unrealized losses, the value of your position became lower and the leverage – ratio of current value in your position to position size – increased.
For example, if you go 10x long using 10$ on ATOM at a price of 10$/ATOM, you have 10$ collateral and a 100$ position size at open. If the price drops 9%, you will have 1$ left in the position, while the position size stays the same at 100$, which is 100x leverage.