The rule
Opening a position costs you 1 per cent of your wager. Moon's glossary states the fee is "calculated solely on your wager amount" and is "not calculated on your total leveraged exposure". You pay the same fee again if you flip the direction of an open position.
Moon betting glossary, opening fee and flip.
The arithmetic
Write W for the wager, L for leverage and
m for the price move as a fraction. Exposure is
W × L. Profit is W × L × m. The opening
fee is W × 1/100, with no L in it.
Set profit equal to the fee and the wager cancels, so breakeven is
m = 1/100 ÷ L. Moon closes the position when losses reach
the wager, which is m = 1 ÷ L. Divide breakeven by the max loss
distance and the L cancels too, leaving
1/100.
That last cancellation is the useful one. Your opening fee costs 1 per cent of your runway at every multiplier from 2x to 1000x, however far away your max loss price sits.
Every multiplier, on a $100 wager
| Leverage | Exposure on $100 | Costs to open | Breakeven move | Max loss move |
|---|---|---|---|---|
| 2x | $200 | $1.00 | 0.5000% | 50.000% |
| 5x | $500 | $1.00 | 0.2000% | 20.000% |
| 10x | $1,000 | $1.00 | 0.1000% | 10.000% |
| 20x | $2,000 | $1.00 | 0.0500% | 5.000% |
| 50x | $5,000 | $1.00 | 0.0200% | 2.000% |
| 100x | $10,000 | $1.00 | 0.0100% | 1.000% |
| 200x | $20,000 | $1.00 | 0.0050% | 0.500% |
| 500x | $50,000 | $1.00 | 0.0020% | 0.200% |
| 1000x | $100,000 | $1.00 | 0.0010% | 0.100% |
Exposure is stake multiplied by leverage. The opening fee is 1% of the $100 stake at every multiplier, which is why the third column does not move. Breakeven is the move that covers that fee. Max loss move is the adverse move that costs the whole stake, which Moon puts at one part in the leverage with no maintenance buffer ahead of it. A rolling fee applies every 8 hours at a rate Moon does not publish and is not included in any column.
What changes and what does not
Going from 10x to 1000x multiplies your exposure by 100, multiplies your profit per unit of move by 100, and multiplies your opening fee by exactly 1. It divides your runway by 100, from 10.000 per cent to 0.100 per cent.
So cost gives you no reason to prefer a low multiplier. Movement does. Most of the 45 markets measured here cover 0.100 per cent inside a minute, which puts 1000x closer to a rounding error than to a stop.
see how far each market actually moves in a session
Three costs are named and never modelled
Moon documents a rolling fee charged every 8 hours and describes the rate as dynamic. It publishes no figure for it. Two further costs are reported by third-party testers and appear nowhere in Moon's own documentation: a performance fee taken from realised profit, and a spread inside the settlement price.
Not one of the three is modelled anywhere here, because guessing at them would make every table look precise and be wrong. So treat every cost figure here as a floor. If you hold a position overnight, or close it at a profit, you will have paid more than these tables show.
Rolling fee: Moon betting glossary. Performance fee and settlement spread: third-party fee analysis, not corroborated by Moon's own documentation.
The correction made in August 2026
Until August 2026 MarketMoves modelled Moon's cost as 16 basis points of round trip charged on leveraged exposure. At 1000x that implied an opening cost of 160 per cent of the stake, and the pages said so. That overstated the fee about 160 times over, in the direction that made Moon look worse, and every derived figure has since been rebuilt from the glossary.
The correction is logged on the corrections page.
1% of the wager to open, at 2x and at 1000x alike.
Open Moon and trade at 1000xMARKETMarketMoves earns a commission when a reader opens an account through a link on this page. It costs the reader nothing and does not change the figures shown. That commission does not change what the tables say. The cost model on this page was rebuilt in August 2026 after a review found it overstated Moon's opening fee, and correcting it made Moon look cheaper, not dearer. See the affiliate disclosure and the methodology.