Start here
Welcome to Iceberg
Understand your account, the trading model and the rules before you place an order.
On this page
What is Iceberg?
Iceberg is an instant-funding prop trading platform. Choose an account size and trade simulated capital against live Hyperliquid prices and order-book depth. There is no evaluation challenge.
The trading account is a simulation. Orders are executed by Iceberg’s server and are not submitted to Hyperliquid. Your displayed account balance is not a wallet balance or a deposit of that amount on an exchange.
The account at a glance
| Rule | How it works |
|---|---|
| Account sizes | $5,000 to $100,000 of simulated capital |
| Daily loss limit | 3% of the balance established at 00:00 UTC, with payout cash-flow adjustments |
| Total loss limit | 6% of initial account size |
| Trader profit share | 80% of an approved gross claim |
| Payout request size | 1% to 6% of initial capital before the 80/20 split |
| Time requirements | No minimum holding period, trading-day requirement or account time limit |
Open P&L, trading fees and hourly funding affect account risk. Reaching either loss floor permanently suspends the account. Understand the loss limits before trading.