For a non-spinning massive object, where the gravitational field can be expressed with the
Schwarzschild metric, the ISCO is located at :r_{\mathrm{ms}} = 6 \frac{GM}{c^2} = 3 R_S, where R_S is the Schwarzschild radius of the massive object with mass M . Thus, even for a non-spinning object, the ISCO radius is only three times the
Schwarzschild radius, R_S , suggesting that only
black holes and
neutron stars have innermost stable circular orbits outside of their surfaces. As the angular momentum of the central object increases, r_{\mathrm{isco}} decreases. Bound circular orbits are still possible between the ISCO and the so-called
marginally bound orbit, which has a radius of :r_{\mathrm{mb}} = 4 \frac{GM}{c^2} = {2 R_S}, but they are unstable. Between r_{\mathrm{mb}} and the photon sphere so-called unbound orbits are possible which are extremely unstable and which afford a total energy of more than the rest mass at infinity. , as measured in
Schwarzschild radii. For a massless test particle like a
photon, the only possible but unstable circular orbit is exactly at the
photon sphere. Inside the photon sphere, no circular orbits exist. Its radius is :r_{\mathrm{ph}} = 3 \frac{GM}{c^2} = {1.5 R_S}. The lack of stability inside the ISCO is explained by the fact that lowering the orbit does not free enough potential energy for the orbital speed necessary: the acceleration gained is too little. This is usually shown by a graph of the orbital
effective potential which is lowest at the ISCO. ==Rotating black holes==