Position size: your wager times your leverage
A bet on Moon has a direction, up or down, a wager, and a leverage amount. Your position size is the wager multiplied by the leverage. A $50 wager at 20x controls a $1,000 position. The wager is the most you can lose, not the position.
The max loss price
Moon calculates the max loss price the moment your bet opens. It is the price at which your loss reaches the full wager. Moon shows the price on the wager summary, in your open bets list, and as a red line on the chart.
If the market reaches that price, Moon closes the bet automatically. Higher leverage moves the max loss price closer to your entry price. A bigger position reaches the same dollar loss on a smaller move in price.
| Leverage | Position size | Price move to max loss |
|---|---|---|
| 1x | $100 | 100% |
| 10x | $1,000 | 10% |
| 100x | $10,000 | 1% |
| 1000x | $100,000 | 0.1% |
This table is arithmetic. Position size is the wager times the leverage, and the max loss price is reached when the position has lost the full wager. It ignores fees.
Moon's own example: $100 on Bitcoin at 1000x
Moon publishes one worked example. A $100 wager at 1000x controls $100,000 of Bitcoin. A 0.1% rise in price makes $100 before fees. A 0.1% fall reaches the max loss price, and the full $100 is gone. The outcome turns on a tenth of one percent, because the position is a thousand times the wager.
Your loss is capped, and your balance cannot go below zero
Your loss on any bet stops at your wager. Moon closes the bet automatically at the max loss price. A bet cannot take your account balance below zero.
This is leveraged betting. You can lose your whole wager, and higher leverage loses it on a smaller move in price. Moon is 18 and over only, and available in supported countries. Read more on the responsible gambling page.
The opening fee is on your wager, not your exposure
Moon charges a 1% opening fee when a bet opens. The fee is calculated on the wager, not on the leveraged position. A $100 wager pays $1 to open, at 1x leverage or at 1000x. Leverage changes your risk. It does not change the opening fee. The full breakdown, including performance fees and unresolved holding-fee terms, is on the fees page.
Auto close settings, and practising with play money
Moon offers optional auto profit close and auto loss close settings. Set a profit or loss percentage in advance, and Moon closes the bet automatically when the price reaches it. Moon's play money mode gives a simulated balance that refills to $100,000, with the same features as the live platform. It is a way to test leverage before you deposit.
What Moon requires before a real deposit is on the KYC and deposits page. Short answers to other common questions are on the FAQ page.
Sources
References for this guide. The review notes below include dates and questions we have not yet resolved.