Leveraged tokens are higher risk that other tokens in the spot market and are only suited for those who understand the volatility associated with them. In addition, the performance of these tokens will not mirror the performance you will see with general leveraged trading on an exchange. These tokens are aimed to benefit you when the markets are showing strong trends, they are either consistently moving upwards or downwards. During volatile markets you are better off trading perpetual swaps.
During periods of market volatility, the rebalancing mechanism will not benefit those who hold the positions for greater than one day. For example, if ETH goes up one day and down the next day, ETH3S will perform worse over that two day period compared to a 3X Short position in a perpetual swap. The reason being is that after the first loss on day one, the original short position was reduced and will not be able to take advantage of the recovery happening on Day 2.
These tokens are designed for day traders and not those who are looking for medium to long term positions.