There are no stored price bars for this market at this timeframe, so the chart has nothing to draw. Every figure elsewhere on the page is built in advance from the daily series and is unaffected.
What $100 would have done, by leverage
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| Leverage | Held to now | Return | Worst point | Cost of the round trip | Outcome |
|---|
Every minute in the window is walked in order and the worst price inside each bar is tested against the liquidation level before the close, so a position that was liquidated mid-window stays liquidated even if the price later recovered. Opened on the ask and marked on the bid for a long, and the reverse for a short. Indicative example based on third-party market data. Moon's reference price, spread, fees, settlement and liquidation rules may produce a different result.
What a move would mean
0.00%My positions
| Bet | Wager | Leverage | Entry | Liquidation | Mark | Profit / Loss | Multiplier | Action |
|---|---|---|---|---|---|---|---|---|
| No open bets | ||||||||
What SPY did to leverage in 6.5 hours
You saw 0.68 per cent up on SPY inside 6.5 hours, $769.69 to $774.94. Your $100 on the SPY long is $100.36 at 2x and $167.21 at 100x. 3 of 18 SPY multipliers did not finish the 6.5 hours, the last of them 200x short after 2.9 hours. The best SPY survivors were 1000x long and 100x short. None of that touches the 1 per cent of stake the 100x SPY round trip already took, which 0.01 per cent of price squares, near 1.0 per cent of a typical session.
Where S&P 500 ETF has been trading
SPY marks $774.94 after up 0.68 per cent on the session and up 1.23 per cent over five. Over three months SPY is up 6.82 per cent. That is 3 SPY closes in a row higher. You are buying 0.57 per cent under the 30-session SPY high of $779.37, with the low of that run at $734.59.
How far SPY moves in a session
SPY runs 13.1 per cent annualised volatility over 30 sessions against 13.3 per cent over 90, which by leveraged standards is a bond fund with a ticker. An ordinary SPY day swings 0.83 per cent either side of flat, and at its worst SPY fell 2.83 per cent below an open in the last 90 sessions.
The multiplier SPY actually survives
Run the last 30 SPY sessions and 50x is the most you could have held without being closed out, with your liquidation 2 per cent away. Stretch the SPY window to 90 sessions and it drops to 20x. Drop to one-minute SPY bars and 0.9 per cent of them cover the whole 1000x liquidation distance, on a median bar of 0.0119 per cent.
Room and hit rate at every SPY multiplier
| Leverage | Liquidation distance | Sessions it was hit | Hit rate | Round-trip cost vs stake |
|---|---|---|---|---|
| 2x | 50.0000% | 0 / 90 | 0% | 1.0% |
| 5x | 20.0000% | 0 / 90 | 0% | 1.0% |
| 10x | 10.0000% | 0 / 90 | 0% | 1.0% |
| 20x | 5.0000% | 0 / 90 | 0% | 1.0% |
| 50x | 2.0000% | 2 / 90 | 2% | 1.0% |
| 100x | 1.0000% | 9 / 90 | 10% | 1.0% |
| 200x | 0.5000% | 39 / 90 | 43% | 1.0% |
| 500x | 0.2000% | 61 / 90 | 68% | 1.0% |
| 1000x | 0.1000% | 73 / 90 | 81% | 1.0% |
Max loss distance is one part in the leverage, because Moon closes a wager once it has lost the wager and documents no maintenance buffer. Hit count is the number of the last 90 sessions where the low fell that far below the session open, i.e. where a long opened at the open would have reached its max loss price intraday. Cost is Moon's 1% opening fee, charged on the wager and not on the exposure, so it does not change from one multiplier to the next. A rolling fee applies every 8 hours at a rate Moon does not publish and is not included.
What SPY costs you to open
You pay 1 per cent of your wager to open SPY and nothing on your exposure, so $100 down costs $1 at 2x and $1 at 1000x. What changes is your room, and an average SPY session covers the 100x liquidation distance 1.0 times over. Your costs on SPY beyond the 1 per cent are a rolling fee at 8 hour intervals at an unpublished rate, plus a settlement spread Moon does not document.
SPY leverage questions
What multiplier is realistic on SPY?
50x, the highest SPY multiplier that avoided liquidation on every one of the last 30 sessions. A 2 per cent move against you closes the SPY wager.
What does opening a wager on SPY cost you?
1 per cent of your SPY wager, the same at 2x as at 1000x. Hold SPY past 8 hours and a rolling fee is added at a rate Moon does not publish.
Does 1000x make sense on SPY?
Your max loss price sits 0.10 per cent from entry, which SPY covered on 73 of the last 90 sessions. The length of your SPY hold settles it rather than the 1 per cent fee.
Before you take this to Moon
Everything above is derived from independent third-party market data. Moon prices its own book: the reference price, the spread it quotes, its fee schedule, its funding rate and its liquidation engine are all Moon's, and they will produce a different number from this page.
Every multiplier above is measured on SPY's own last 30 sessions rather than on a market average, so it tells you how leverage behaves on SPY and nothing else. Price your own SPY size on Moon against those 30 sessions before you commit to it.
Our last check on SPY at Moon is older than 30 days. Treating it as unknown until it is rechecked. Last checked 2026-08-27 by operator. Moon does list equities at up to 1000x. What it costs and where it falls short.
What this simulator is
Prices come from Twelve Data, an independent market-data vendor, and are indicative. Moon's own reference price, spread, fee schedule, funding and liquidation rules will produce a different result. No money is staked here, no order is routed, and no position exists on any platform. At 1000× leverage a 0.01% difference between this chart and Moon's settlement feed moves the position value by roughly 10% of the stake, so treat every number below as an illustration of mechanics rather than a forecast of outcome.
Leverage arithmetic used
Exposure = stake × leverage. Long P/L = exposure × (mark − entry) ÷ entry. Short P/L = exposure × (entry − mark) ÷ entry. Entry takes the ask for a long and the bid for a short; closing does the reverse, so the spread is charged on the round trip. Liquidation triggers when equity falls to the maintenance margin, i.e. at an adverse move of (1 − leverage × maintenance rate) ÷ leverage.
Jurisdiction
Leverage caps, incentive bans and product classification differ by country. Retail CFD rules in the EU cap equity leverage far below the levels shown in this demo and restrict monetary incentives such as rakeback, so the referral block and the maximum selectable leverage must be gated per market before any page goes live. 18+. Trading leveraged products carries a high risk of losing your capital.