> ## Documentation Index
> Fetch the complete documentation index at: https://docs.myfundedperpetuals.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Definitions for perpetual futures, challenge rules, trading controls, copy trading, and MyFundedPerps account states.

## Trading

**Asset unit**\
Quantity expressed in units of the market's underlying asset rather than USD.

**Cross margin**\
A margin mode where eligible account collateral supports cross-margin positions
together.

**Fill**\
The executed portion of an order. A fill has a quantity and execution price and
changes the simulated account position or realized result.

**Isolated margin**\
A margin mode where margin is managed for an individual position.

**Leverage**\
The ratio between position notional and assigned margin. More leverage magnifies
the effect of price movement relative to margin.

**Limit order**\
An order that can fill only at its limit price or better.

**Mark price**\
The platform's current reference price used for account valuation and relevant
risk checks. On Lighter forex markets, the platform uses Lighter's mark price
for chart candles, valuation, trigger and risk checks, and the reference for
market fills. The book midpoint is a separate value: the average of the best
bid and best ask.

**Market order**\
An instruction that executes immediately at the current mark price plus a
size-based slippage tier applied against the order's direction.

**Notional value**\
The position or order quantity multiplied by price, before leverage converts it
to a margin requirement.

**Perpetual future**\
A derivatives contract without a fixed expiry date. MyFundedPerps simulates
trading these markets; it does not place exchange orders for the trader.

**Slippage**\
The difference between a reference or expected price and the final average
execution price.

**Stop Loss / Take Profit (SL / TP)**\
Exit instructions triggered when a configured price condition is reached.

## Challenges and accounts

**Challenge account**\
A simulated account governed by a purchased or granted challenge plan.

**Consistency rule**\
A plan-specific limit on how concentrated qualifying profit may be in a small
number of days or results.

**Equity**\
Account value including the effect of open positions at current marks.

**Evaluation**\
The stage in which a trader works toward the plan's target while respecting its
rules.

**Funded account**\
The post-evaluation simulated account issued after the required review,
identity, and agreement flow.

**Maximum daily loss**\
A plan rule limiting account loss relative to its daily reference.

**Maximum drawdown**\
The largest permitted decline under the account's configured static or trailing
policy.

**Profit target**\
The gain required to pass an evaluation step.

**Trailing end-of-day drawdown**\
A drawdown policy whose reference can move upward after a higher end-of-day
equity mark and does not move back down.

## Copy trading and billing

**Follower**\
An account that receives eligible orders from a copy-trading lead and applies
its own independent risk checks.

**Lead**\
The account whose eligible trading instructions drive a copy-trading group.

**Multiplier**\
A follower-specific adjustment applied after copy size is normalized for the
lead and follower starting balances.

**Profit split**\
The purchased plan percentage used to divide eligible funded-account profit
under the applicable payout terms.

**Purchase status**\
The current state of a challenge order: paid, pending, failed, or refunded.