We have previously reported a transparent motion after–effect indicating that the human visual system comprises separate slow and fast motion channels. Here, we report that the presentation of a fast motion in one eye and a slow motion in the other eye does not result in binocular rivalry but in a clear percept of transparent motion. We call this new visual phenomenon ' dichoptic motion transparency' (DMT). So far only the DMT phenomenon and the two motion after–effects (the ' classical' motion after–effect, seen after motion adaptation on a static test pattern, and the dynamic motion after–effect, seen on a dynamic–noise test pattern) appear to isolate the channels completely. The speed ranges of the slow and fast channels overlap strongly and are observer dependent. A model is presented that links after–effect durations of an observer to the probability of rivalry or DMT as a function of dichoptic velocity combinations. Model results support the assumption of two highly independent channels showing only within–channel rivalry, and no rivalry or after–effect interactions between the channels. The finding of two independent motion vision channels, each with a separate rivalry stage and a private line to conscious perception, might be helpful in visualizing or analysing pathways to consciousness.