leverage over one week

The modal survivable rung over one week is 5x, agreed by 24 of 45 markets, against a median 95th-percentile weekly excursion of 18.2% across 396 windows.

Figures rebuilt 2026-08-27 by the MarketMoves editorial desk. Every number on this page is derived from the sources named in the methodology.

every market, weekly rung and weekly excursion

Long side and short side are the 95th-percentile excursions measured separately, and the rung is set by the worse of the two, which is what makes a single rung valid for either direction. The spread between them is the weekly asymmetry of the market: S&P 500 ETF shows 4.16 per cent against 3.81 per cent, while Hyperliquid (HYPE) shows 21.7 per cent against 26.8 per cent. Rows are sorted by rung and then by excursion, so the market listed first at a given rung is the one with the most unused room.

S&P 500 ETF carried the highest weekly rung at 20x with 5.00 per cent of room against 4.16 per cent of weekly excursion, a cover ratio of 1.20 times across 396 windows. Hyperliquid (HYPE) carried the lowest at 2x with 50.0 per cent of room against 26.8 per cent. The distribution across the whole set runs 2x on 10, 5x on 24, 10x on 10, 20x on 1, and the weekly distribution on the notional-fee venue runs 3x on 14, 5x on 3 across its listed markets.

carry is unpriced over a week, and a week is where it matters

A weekly hold crosses 21 rolling-fee intervals on the flat-fee venue at a rate that venue does not publish, so no figure on this page includes it and every cost here is a floor. The notional-fee venue publishes funding hourly, capped at 4.00% per hour, with an interest component of 0.00125% per hour: funding documentation. Carry is therefore not comparable across the two venues, because a comparison needs both rates and one of the two is unpublished.

The other weekly cost is the maintenance rule. The notional-fee venue holds half the initial margin at the asset ceiling, which removes half the room at that ceiling: liquidation documentation, with per-asset ceilings from the venue's own asset list. The flat-fee venue holds no maintenance buffer and caps the loss at the wager, so its room is one part in the multiplier at every rung and its worst case is the wager itself.

Weekly rungs are computed from daily bars against Moon's published ladder, which is a different claim from Moon listing the market: 50 of 50 tracked markets are unverified at instrument level and 0 are confirmed. Daily bars from Twelve Data, venue terms from registry 2026-08-27a.

Method, restated because the weekly numbers are the ones most often quoted without it: The survivable rung is the highest rung whose distance to liquidation exceeds the 95th-percentile adverse excursion over rolling windows of that length, taking the worse of the long and short side. The weekly threshold is therefore the 95th percentile of 396 or so five-day windows per market, and the rung is the last one on the ladder whose room clears it. Registry 2026-08-27a, reviewed through 2026-11-27.

Window counts are not uniform: the typical market contributes 396 weekly windows and Gram contributes 12, so its rung rests on the shortest sample in the table. Shorter horizons: one hour to one session, one minute to five minutes. Procedure: how to choose. Stamp 2026-08-27 07:56 UTC UTC, 45 of 45 tracked markets with enough daily bars for a weekly window.

Bars from Twelve Data.