Technical
Glossary
The terms used in the terminal and these docs.
On this page
Account and accounting
| Term | Meaning |
|---|---|
| Initial capital | The account’s starting simulated size |
| Balance | Realized simulated cash after recorded trading and cash events |
| Equity | Account value including open P&L and the documented compartment treatment |
| Gross claim | The eligible payout amount before the 80/20 split |
| Trader credit | The approved trader share available for an account purchase |
| UTC opening balance | The raw daily starting cash used to establish the 3% allowance |
| Cash-flow-neutral drawdown | Realized drawdown after removing payout reserves and refunds from the balance path |
Prices and orders
| Term | Meaning |
|---|---|
| Mark price | The venue price used for open P&L, risk and protection triggers |
| Oracle | The reference input recorded for hourly funding calculations |
| Mid | The midpoint used for display and ticket reference; not a guaranteed fill |
| BBO | Best bid and offer |
| L2 depth | Aggregated price levels and available quoted quantities |
| VWAP | The quantity-weighted average price across executed levels |
| GTC | A limit intent that stays active until filled, cancelled or rejected |
| Reduce-only | An instruction that may reduce an existing position but cannot open new exposure |
| OCO | One-cancels-the-other behavior for a position’s TP/SL pair |
Risk and system terms
| Term | Meaning |
|---|---|
| Initial margin | Collateral usage for opening or reserving exposure |
| Maintenance | The tier-aware requirement used for compartment liquidation |
| Position generation | A lifecycle identity that changes when a position closes or reverses |
| Backstop settlement | An explicit off-book simulated close of a depleted compartment |
| Idempotency key | A unique request identity used to return one durable outcome on exact retries |
| Finality | The chain/RPC finalized-block condition required before a payment is accepted |
| RTT | A measured network round trip, not order-execution latency |