Leverage calculator
Put in a stake and a multiplier. You get exposure, the entry once spread has had its cut, the liquidation price, exactly how far the market has to move against you to reach it, and what the round trip costs before anything happens at all. Then it checks that distance against how far this market genuinely travels in one session, which is usually the part that ends the conversation.
How the numbers are derived
Exposure is stake multiplied by leverage. A long enters at the ask and closes at the bid; a short does the reverse, so the spread is charged twice on a round trip. Profit and loss is exposure multiplied by the proportional move in the mark price, which is why the stake sets the size of the bet and the multiplier sets how little the market has to move to end it.
Liquidation is reached when equity, meaning stake plus open profit and loss, falls to the maintenance margin on the exposure. Rearranged, the adverse move that liquidates you is (1 − leverage × maintenance rate) ÷ leverage. That is why the distance collapses so fast: at 10x it is roughly 9.95%, at 100x roughly 0.95%, and at 1000x roughly 0.05%.
The cost line is the part most calculators leave out. Fees are charged on exposure, not on stake, so a 16 basis point round trip is 1.6% of the stake at 10x and 160% of it at 1000x. Above roughly 625x on that fee schedule the position cannot be profitable at any price, because the cost of opening and closing exceeds the entire stake.
Every number this tool returns is a model, not a fill. A long is priced from the ask and marked on the bid, and a short the reverse, so the spread is charged in the direction a real round trip would pay it. Indicative example based on third-party market data. Moon's reference price, spread, fees, settlement and liquidation rules may produce a different result.