What 1000x leverage means
Every platform here will sell you 1000x, and the live numbers show how many minutes that multiplier survives on each market before it closes you out.
At 1000x your $100 controls $100,000
Every 0.01 per cent the market moves is $10, or a tenth of your stake. Moon holds no maintenance buffer, so your room to liquidation is the plain reciprocal, 0.10 per cent.
What breaks at 1000x is your room
Moon takes 1.00 per cent of your wager, so a $100 wager costs you $1.00 to open at 2x and $1.00 at 1000x. Your multiplier cancels out, and the fee stays a constant 1.00 per cent of your room at every multiplier, so there is no fee cliff waiting for you higher up.
A platform that charged a percentage of your exposure instead would make everything above roughly 625x unrecoverable before it opened. Moon does not charge that way. What you are left with at 1000x is 0.10 per cent of room, plus a rolling fee every 8 hours at a rate the platform does not publish and no figure here includes.
Most minute bars are bigger than your room
On Zcash the one-minute series travels further than your whole 1000x room in 36.2 per cent of minute bars. On S&P 500 ETF that figure is 0.4 per cent. You are betting on the next few ticks at worse odds than a coin flip.
Why a platform prints the number at all
The headline multiplier is cheap advertising. Positions there close almost at once, pay a fee going in and another coming out, and rarely stay open long enough to become a real liability for the platform. It is the loudest number on the page because it costs the least to print.
Where the price still decides your outcome
If what you want is a large outcome from a small stake, the multiplier stops helping you above a few hundred x, because the fee alone starts deciding the result. Open the calculator, set the multiplier where your round-trip cost stays under a few per cent of your stake, and read your room against that market's normal daily range.