moon venue review
Moon's opening fee costs 1.00% of the distance to liquidation at every rung from 2x to 1000x, because both scale with the wager.
Figures rebuilt 2026-08-27 by the MarketMoves editorial desk. Every number on this page is derived from the sources named in the methodology.
Moon charges 1.0% of the wager to open, holds no maintenance buffer, caps the loss at the wager, offers up to 1000x, lists 50 of the 50 markets tracked here, and runs a play money mode with no deposit required. Those five properties are the whole product, and the first of them is the one that changes the arithmetic: a fee on the wager does not scale with the multiplier, so a $100 wager costs $1.00 to open at 2x and $1.00 at 1000x.
Moon's glossary states the fee is calculated on the wager amount and not on total leveraged exposure (Moon betting glossary). A venue charging on notional would bill the exposure instead, which at 1000x on a $100 wager is $100,000, and the nouns on this page are Moon's own for the product: wager, bet, direction, multiplier.
Open Moon with code MAXBONUSthe fee is a constant 1.00% of the runway at every rung
Breakeven is the opening fee divided by exposure, so it is 1.0% divided by the multiplier. Room to liquidation is one part in the multiplier. Dividing the first by the second cancels the multiplier entirely, which is why the last column below does not move: the fee costs 1.00% of the distance between entry and liquidation at 2x and 1.00% of it at 1000x.
| Multiplier | Exposure on $100 | Costs to open | Breakeven move | Room to liquidation | Fee as share of room |
|---|---|---|---|---|---|
| 2x | $200 | $1.00 | 0.5000% | 50.000% | 1.00% |
| 5x | $500 | $1.00 | 0.2000% | 20.000% | 1.00% |
| 10x | $1,000 | $1.00 | 0.1000% | 10.000% | 1.00% |
| 20x | $2,000 | $1.00 | 0.0500% | 5.000% | 1.00% |
| 50x | $5,000 | $1.00 | 0.0200% | 2.000% | 1.00% |
| 100x | $10,000 | $1.00 | 0.0100% | 1.000% | 1.00% |
| 200x | $20,000 | $1.00 | 0.0050% | 0.500% | 1.00% |
| 500x | $50,000 | $1.00 | 0.0020% | 0.200% | 1.00% |
| 1000x | $100,000 | $1.00 | 0.0010% | 0.100% | 1.00% |
Exposure is wager multiplied by multiplier. Opening cost is 1.0% of the $100 wager at every rung, charged again on a flip. Room is one part in the multiplier, because Moon's maintenance requirement is 0.00%.
cost is not the argument against a high multiplier, room is
At 1000x the runway is 0.100% and the fee costs 1.00% of it, the same share it costs at 2x where the runway is 50.0%. So the multiplier is not bought with money on this venue, it is bought with distance: 39 of 46 markets in the survival dataset had a 95th-percentile adverse excursion wider than 0.100% over a single minute, and 46 of 46 did over an hour.
the live interface returns 2.00003% where the model says 2.00000%
Moon's own interface showed $346.145 as the mark on Tesla with a 50x bet in the Down direction, and displayed a liquidation price of $353.068. The distance between those two prices is 2.00003% of the mark, and one part in 50 is 2.00000%, a ratio of 1.0000144 to one and a difference of 0.00003 percentage points that comes from the liquidation price being displayed to three decimals. No maintenance buffer has been subtracted anywhere in that arithmetic, which is the model this page describes, observed rather than assumed.
Prices and multiplier as recorded in the venue registry on 2026-08-27, recomputed at build time rather than transcribed.
the loss stops at the wager, which no rung changes
Moon states that a bet closes once it has lost an amount equal to the wager and that an account cannot go below zero (placing a first bet). The registry records the loss cap as the wager and the maintenance rule as none, so at 1000x the whole wager is lost after a 0.100% move and nothing further is owed. That is a different object from a margin account, where an adverse gap can leave a balance outstanding (how leverage works).
one cost is unpublished and is excluded from every figure above
Moon charges a rolling fee every 8 hours and publishes no rate for it, so the rate appears in no calculation on this page or anywhere else on this site. Every cost figure here is therefore a floor on cost rather than an estimate of it, and a position held across 8 hours will have paid something the tables do not contain, and Moon publishes no liquidation clearance fee either way.
50 of 50 tracked markets, by asset class rather than by ticker
Moon documents 5 asset classes: equities, exchange traded funds, cryptocurrency, metals, commodities. It publishes classes and not instrument lists, so this site carries no claim that a named instrument is listed there until someone has opened the platform and confirmed it, and the availability gate reads unverified on 50 of 50 market pages. Class level and venue level links are unaffected by that gate, which is what the link below is.
The practice mode is the part of the product that fits the site's own purpose. Moon offers play money with no deposit required, so the rung the survival data supports over a given holding period can be run without funding anything first.
Venue registry 2026-08-27a, reviewed through 2026-11-27. Every figure on this page is computed from that registry at build time.