Skip to content
IcebergDocs
WebsiteLaunch app
Start here

Glossary

The account and trading terms used in the app.

Updated 6 October 20262 min read
On this page

Account and payouts

TermMeaning
Initial capitalThe simulated account size purchased at activation.
Instant FundingAn account type that starts funded, without an evaluation.
1-Step UnlimitedAn account type that starts in evaluation and has no expiration in either phase.
Evaluation phaseTrading toward the 10% target; payout requests are unavailable. A completed evaluation closes and creates a separate funded account.
Funded phaseA new account created after an Unlimited evaluation passes, starting at initial capital with an 80% trader share.
BalanceRealized simulated cash after trading results, fees, funding and payout movements.
EquityBalance plus open-position profit or loss at mark prices.
Gross payoutThe eligible claim before the 80/20 split.
Trader shareThe 80% of the gross payout allocated to the trader.
Account creditAn issued trader share available for account purchases, separate from wallet USDC.

Prices and orders

TermMeaning
Mark priceThe reference used to value open P&L and trigger protection.
MidpointThe price halfway between the best bid and best ask.
SpreadThe difference between the best bid and best ask.
NotionalPosition quantity multiplied by its price.
Reduce-onlyAn order that can reduce existing exposure but cannot open or increase it.
GTCGood till cancelled: a limit order remains active until filled or cancelled.

Risk and payment terms

TermMeaning
Daily floorThe day’s minimum account equity after applying the daily loss allowance and payout adjustments.
Total floor94% of initial account size, fixed for the account’s lifetime.
Maintenance marginThe minimum collateral required to keep exposure open.
FundingAn hourly charge or credit for holding a perpetual position.
FinalityThe network state confirming a received transfer as finalized.