A perpetual future is a futures contract that never expires. You can go long or short and use leverage, subject to your account’s rules.
Key terms
Perp
A perpetual futures contract has no expiry date, so there are no rollovers.
Payouts
Payments from FFOne based on eligible profits earned in your simulated funded account. Once your account meets the payout requirements, you can request your share of those profits under your plan’s profit split. Evaluation accounts become eligible only after you pass and receive a funded account.
Mark price
The price used to value open positions. Account limits are checked against it in real time.
Leverage
Trading a position larger than the margin it uses. Leverage is available up to 10× on BTC and ETH and 5× on other perps, with up to 40× on select other perpetual markets. Higher leverage increases your exposure to both profits and losses.
Maximum drawdown (maximum loss)
The account’s overall loss limit. If account equity reaches the maximum drawdown floor, the account closes. Losses on open trades count.
Perps Instant: You choose a maximum drawdown amount at checkout. That amount also determines your one-time fee.
Perps Evaluation and Evaluation funded accounts: You choose a maximum drawdown of 3%–7% of starting account size, with a maximum of 6% on a $50,000 account. The selected limit carries over when you pass and receive your funded account.
Floor
The equity level at which your account closes. It starts at your starting balance minus your maximum drawdown amount. On Evaluation funded accounts, it moves to the starting balance after the first payout. Losses on open trades count.
Static
A limit that does not trail profits upward. Maximum drawdown is static on all accounts, with one exception: after the first payout on an Evaluation funded account, the floor locks at the starting balance. The Instant floor stays unchanged.
Daily loss limit
The maximum your account can lose in one day before it closes. This applies during a Perps Evaluation and to the funded account you receive after passing. The day resets at midnight New York time. Perps Instant has no daily loss limit.
Profit target
The profit required to pass an evaluation: 9%–12%, chosen at checkout.
Profit split
Your share of each payout: 80%, or 90% with the evaluation add-on.
Breach
Reaching a hard account limit. The account closes permanently and cannot be reset.