A broadhead is provided including a ferrule defining a slot. A blade is movable within the slot from a retracted mode to a deployed mode. The blade includes a lever arm projecting from the slot on a ferrule side opposite a cutting edge. The blade can include an interference projection that engages an exterior of the ferrule to retain the blade in the retracted mode. The blade can include a retention arm that selectively engages the ferrule to hold the blade in the retracted mode or the deployed mode. The broadhead can include a collar selectively disposed in a collar recess of the blade to hold the blade in the retracted mode. The broadhead can include a plunger and/or pivotable pawl that selectively engage the blade to hold it in a desired mode.