> ## Documentation Index > Fetch the complete documentation index at: https://docs.ownit.xyz/llms.txt > Use this file to discover all available pages before exploring further. # Rulebook > Every rule for the evaluation and the funded account. > [!NOTE] > > OWNIT is in private beta. ## Definitions | Term | Meaning | | - | - | | Balance | Account value from closed trades only. | | Equity | Balance plus the unrealized P\&L of open positions. Both loss limits are checked on equity. | | Start-of-day balance | A snapshot of your balance at 00:00 UTC: closed trades only, no unrealized P\&L. The max daily loss floor is measured from it. | | Floor | The equity level at which a limit is hit. | | From breach | Distance from your equity to the nearer floor. | | Breach | Equity touches a floor. Positions close and the account stops trading. | > [!WARNING] > > Both loss limits are measured on equity, not balance. An open loss can breach the account before you close the trade. ## Quick reference Nothing is abbreviated here. Where a rule is identical in both phases, it is written out in both columns. | Parameter | Evaluation | Funded | | - | - | - | | Account sizes | \$5,000, \$10,000, \$25,000, \$50,000, \$100,000 | The size of the evaluation you passed | | Profit target | 10% of starting balance, measured on balance | None. There is no profit target on a funded account | | Max daily loss | 3% of start-of-day balance. Checked on equity, resets 00:00 UTC | 3% of start-of-day balance. Checked on equity, resets 00:00 UTC | | Max loss | 8% of starting balance. Static, checked on equity | 8% of starting balance. Static, checked on equity | | Best day | Your best day must be ≤ 50% of the sum of your profitable days before you can claim funding | Your best day must be ≤ 50% of the sum of your profitable days before you can request a payout | | Leverage | Up to 5x, set per market | Up to 5x, set per market | | Reward | Not applicable. Evaluation profit is not paid out | 90% of your simulated profit, paid to you in USDC | | Minimum payout | Not applicable | \$20 of available profit | | Maximum payout | Not applicable | \$10,000 a day, during private beta | | Partial payouts | Not applicable | Not available. A payout takes the full available profit, up to the daily cap | | After a payout | Not applicable | Balance and equity return to the starting balance and the objectives reset with it. Profit above the cap is not carried over | | Evaluation fee | Paid once, at purchase | Refunded for the first funded account qualifying for a payout | | Breach | The account ends. Buy a new evaluation to trade again | The account ends. Buy a new evaluation to trade again | | Time limit | None | None | Your account's dollar limits are always shown at the top of the trading screen. > [!WARNING] > > Note: For private beta only, profit above the daily cap is not carried over. Request a payout holding \$15,000 of available profit and you receive \$10,000. The account then resets to its starting balance and the remaining \$5,000 is gone: there is no rollover and no buffer. Request before your available profit passes \$10,000. ## Max daily loss You can lose 3% of your start-of-day balance in one day. The floor is set at 00:00 UTC and holds until the next 00:00 UTC. > [!NOTE] > > The 00:00 UTC snapshot is your **balance**, not your equity. Unrealized P\&L on a position held through midnight is not in it, so it does not move the next day's floor. The floor is then checked against equity for the rest of the day. [Max daily loss: the floor recut at 00:00 UTC, and From breach](https://app.ownit.xyz/embed/prop-rules/daily-loss?percent=3) ```text Daily floor theme={"system"} Daily floor = start-of-day balance − 3% × start-of-day balance $100,000 × 0.97 = $97,000 ``` \$100,000 account: | Day | Balance at 00:00 UTC | Daily floor | | - | - | - | | 1 | \$100,000 | \$97,000 | | 2 | \$98,000 | \$95,060 | | 3 | \$103,000 | \$99,910 | * The floor is on equity. An open position at a loss counts. * The floor moves with your balance: lower after a losing day, higher after a winning one. ## Max loss You can lose 8% of your starting balance over the whole account. One floor, set at purchase. It does not rise when you profit. [Max loss: a fixed breach level that does not move with profit](https://app.ownit.xyz/embed/prop-rules/max-drawdown?percent=8) ```text Max floor theme={"system"} Max floor = starting balance × (1 − 8%) $100,000 × 0.92 = $92,000 ``` Grow the account to \$110,000 and the floor is still \$92,000. ## From breach From breach is the distance from your equity to whichever floor is nearer. It is the number to watch while a position is open. At zero, the account breaches. ```text From breach theme={"system"} From breach = equity − nearer floor Equity $101,500 Daily floor $97,000 ← nearer Max floor $92,000 From breach $4,500 ``` After three losing days the daily floor can sit below the max floor; then the max floor is the nearer one. ## Profit target Reach 10% above your starting balance to pass. The target is measured on balance, so only closed trades count. There is no time limit and no minimum number of trading days. [Profit target: balance against the target line](https://app.ownit.xyz/embed/prop-rules/profit-target?percent=10) ```text Profit target theme={"system"} Target = starting balance × 1.10 $100,000 × 1.10 = $110,000 ``` ## Best day Your single best day may not be more than 50% of the sum of your profitable days. Losing days are not subtracted; they simply do not count. The rule gates claiming a funded account and requesting a payout. It never breaches the account. [Best day: one account clearing the 50% cap and one still over it](https://app.ownit.xyz/embed/prop-rules/best-day?percent=50) ```text Best day theme={"system"} Day 1 closed profit +$10,000 Day 2 closed loss −$2,000 not counted Day 3 closed profit +$6,000 Sum of all profitable days = $10,000 + $6,000 = $16,000 Best day = Day 1, $10,000 Best day share = $10,000 of $16,000 = 62.5% ``` Day 1 is the best, representing 62.5% of the realized profit, which is over the 50% cap, so your payout claim is on hold. Your progress is not lost; you need to keep trading until you meet the best day rule. While Day 1 stays your best day, the sum of your profitable days has to be at least \$20,000 for the rule to be satisfied: another \$4,000 from profitable days. Account size does not enter into it; the rule is a ratio. The readout on the Desk shows where you stand. > [card] [Claim a funded account](https://docs.ownit.xyz/trading/funding.md) > > What you need before claiming, what resets, what stays, and when payouts open. > [card] [Payouts](https://docs.ownit.xyz/platform/payouts.md) > > Payout terms, how to request one, and what the payout table records. ## What happens on a breach 1. Open positions are closed. 2. The account stops trading. 3. Positions and history stay readable, so you can review what happened. 4. To trade again, buy a new evaluation. > [!WARNING] > > Breaches are final. There are no resets or appeals. You never owe the loss; the account simply ends. ## What is not restricted | Rule | On OWNIT | | - | - | | Time limit | None | | Minimum trading days | None | | Weekend or overnight holding | Allowed | | Holding time of trades | No limits; scalping and swing trading allowed | | Stop loss | Not required | | News trading | Allowed | | Position size | Capped per market by notional; see Markets | | Multiple accounts | For private beta, one active evaluation per user | ## Refunds There are two ways to receive a refund: | Refund | Condition | Amount | Paid | | - | - | - | - | | 14-day | Within 14 days of purchase, no trade placed on that account | Full fee | To the payment source | | Fee refund | Pass and request your first payout (only for your first payout ever) | Full fee | With the payout, as a separate USDC transfer | The 14-day refund is per account. An untouched second evaluation still qualifies while you trade the first. Placing a trade ends it; you accept that at checkout. The fee refund is claimed once, on the first funded account where you qualified for a payout. It does not count against your reward. The fee is held against passing, not spent. ## Also read > [card] [Trading conduct](https://docs.ownit.xyz/appendix/trading-conduct.md) > > The conduct expected on every account, whatever your strategy. > [card] [Fees](https://docs.ownit.xyz/resources/fees.md) > > Maker and taker rates, funding, worked examples, and what is free. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.