To have the my funded perpetuals account types explained simply, traders can choose between two primary evaluation models: the 1-Step and 2-Step Challenges. Ranging from $5,000 to $100,000 in virtual capital, these accounts allow you to trade crypto perpetuals on the decentralized Vertex Protocol with up to 1:20 leverage, static or trailing drawdowns, and a starting profit split of 80%.
Key takeaways
- Flexible Sizing Tiers: Accounts are available in five distinct virtual funding sizes: $5,000, $10,000, $25,000, $50,000, and $100,000.
- 1-Step Evaluation Rules: Features a single 10% profit target, a 4% daily loss limit, and a 6% trailing maximum drawdown.
- 2-Step Evaluation Rules: Features an 8% profit target for Phase 1 and a 5% target for Phase 2, with a 5% daily loss limit and a safer 10% static maximum drawdown.
- DeFi-Native Execution: Operates as a specialized Vertex Protocol prop firm on the Arbitrum network, offering high-speed trade matching and avoiding legacy broker price manipulation.
- Rapid Stablecoin Payouts: Profit splits start at 80% (scaling to 90%) and are distributed directly to Web3 wallets in USDC or USDT with a minimum trading requirement of just 1 day.
What Is My Funded Perpetuals and How Does Its Crypto Trading Work?
My Funded Perpetuals (commonly referred to as MyFundedPerps) is a pioneering, decentralized cryptocurrency-focused proprietary trading firm founded by Matthew Leech. The platform allows skilled individuals to manage virtual capital and trade high-beta digital assets using decentralized crypto perpetual contracts. Powered by the high-performance Vertex Protocol, the platform offers virtual account sizes ranging from $5,000 to $100,000, with simulated profit payouts settled via USDC stablecoins directly to traders' self-custodial Web3 wallets.
A New Era of Crypto Perpetuals Prop Trading
For years, retail prop firms have been tethered to legacy trading platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). While these platforms work reasonably well for highly liquid, centralized foreign exchange markets, they are notoriously poorly suited for cryptocurrency. Traders using legacy platforms to trade digital assets often suffer from massive artificial slippage, broker-side execution delays, high spreads, and an extremely limited selection of tradable altcoins.
My Funded Perpetuals breaks this legacy mold by operating as a specialized Vertex protocol prop firm. Founded by industry veteran Matthew Leech, the firm capitalizes on decentralized finance (DeFi) infrastructure to offer transparent, on-chain execution.
Instead of trading spot assets—which require substantial capital and carry storage complexities—participants engage in crypto perpetuals prop trading. This structure allows traders to speculate on cryptocurrency price movements using perpetual swaps. Perpetuals are derivatives that closely track the underlying spot market index but permit leverage without any fixed expiration dates. This means you can hold a position indefinitely, provided you maintain sufficient margin and account for the periodic funding rates that balance the perp price with the spot index.
How the Infrastructure Works: Vertex Protocol & Web3
The core engine behind the platform is the Vertex Protocol, a highly efficient hybrid decentralized exchange (DEX) built with a unified cross-margin account structure. This integration ensures that trade execution is rapid, secure, and entirely free from broker-side price manipulation. Rather than using standard centralized broker accounts that can manipulate spreads, traders navigate their challenges via a decentralized platform that matches a fast off-chain order book with on-chain settlement on the Arbitrum layer-2 network.
This hybrid architecture is a massive technological leap. Traditional order books on-chain are slow and expensive, while fully off-chain brokers are opaque. Vertex solves this by processing trade matching on an ultra-fast off-chain sequencer (taking less than 30 milliseconds) and then settling the balances on-chain. This minimizes execution slippage and ensures that market feeds are derived directly from real, decentralized order books rather than a virtual broker's private liquidity pool.
When a trader passes their evaluation and qualifies for simulated payouts, the platform's Web3 wallet integration simplifies the settlement pipeline. Instead of waiting days for bank wires, completing complex international transfers, or dealing with traditional fiat payment processors, traders receive their earnings directly into their non-custodial Web3 wallets (such as MetaMask, Trust Wallet, or Coinbase Wallet). All payouts are processed in stablecoins like USDC or USDT, offering immediate, liquid capital directly on the blockchain.
Virtual Account Sizes and Specifications
To accommodate different risk management styles and experience levels, My Funded Perpetuals offers five virtual account tiers. Traders can choose the scale that fits their strategy, and they can secure a 20% discount on registration fees by using the code CRITIC.
The foundational specifications of the platform's trading environment include:
| Feature | Details |
|---|---|
| Platform Founder | Matthew Leech |
| Trading Platform Engine | Vertex Protocol (Decentralized Exchange) |
| Virtual Account Sizes | $5,000, $10,000, $25,000, $50,000, and $100,000 |
| Settlement & Payout Token | USDC / USDT (Stablecoins) |
| Payout Method | Direct transfer to Web3 non-custodial wallets |
| Exclusive Promo Code | CRITIC (20% off) |
By understanding how the my funded perpetuals account types explained in our comprehensive guides fit together with decentralized technology, intermediate and advanced crypto traders can access deep DeFi liquidity without risking their personal capital.
My Funded Perpetuals Account Types Explained: 1-Step vs 2-Step Challenges
My Funded Perpetuals offers two primary evaluation structures: a single-phase 1-Step Challenge with a 10% profit target and a two-phase 2-Step Challenge requiring 8% in Phase 1 and 5% in Phase 2. Both account types provide virtual funding ranging from $5,000 to $100,000, allowing traders to execute crypto perpetuals prop trading via Vertex Protocol with up to 1:20 leverage.
Understanding how these MyFundedPerps account models differ is crucial for choosing the path that fits your trading style, psychological makeup, and risk tolerance.
Comparing the 1-Step and 2-Step Account Models
To help you decide between the two structures, here is a direct comparison of the core metrics and MyFundedPerps rules for each challenge type:
| Evaluation Metric | 1-Step Challenge | 2-Step Challenge |
|---|---|---|
| Profit Target | 10% | Phase 1: 8% Phase 2: 5% |
| Daily Drawdown Limit | 4% | 5% |
| Maximum Drawdown Limit | 6% (Trailing) | 10% (Static) |
| Minimum Trading Days | 1 Day | 1 Day |
| Maximum Leverage | Up to 1:20 on major pairs | Up to 1:20 on major pairs |
| Default Profit Split | 80% (Scales up to 90%) | 80% (Scales up to 90%) |
| Available Account Sizes | $5K, $10K, $25K, $50K, $100K | $5K, $10K, $25K, $50K, $100K |
Regardless of the model you select, both challenges run on Vertex Protocol, a decentralized exchange (DEX) order book that connects directly to Web3 wallets. Acting as a premier Vertex protocol prop firm, the platform ensures that your crypto perpetuals prop trading is executed with institutional-grade execution speed, minimal slippage, and access to MyFundedPerps leverage of up to 1:20 on major digital assets. Furthermore, understanding the nuances of daily and maximum MyFundedPerps drawdown limits on each model is key to keeping your account active.
Analyzing the 1-Step Evaluation
The 1-Step Challenge is designed for traders who want to accelerate their journey to virtual funding. Because you only need to navigate a single evaluation phase with a 10% profit target, you can complete the challenge and start earning profit splits in as little as one active trading day. For traders with short-term trading styles—such as high-frequency scalpers, news event traders, and momentum-driven day traders—the 1-Step model represents the path of least resistance to immediate simulated capital.
However, this speed comes with tighter risk constraints. The daily simulated drawdown limit is capped at 4%, and the maximum drawdown is restricted to a 6% trailing limit. In My Funded Perpetuals 1-step vs 2-step evaluations, the trailing drawdown mechanism in the 1-step model tracks the high-water mark of your account equity or balance. This means as your balance grows, your drawdown floor rises with it, making strict risk management essential to avoid violating the rules. This design requires a disciplined approach to securing profits and managing open trade equity.
Analyzing the 2-Step Evaluation
For a more traditional and lenient risk framework, the 2-Step Challenge splits the evaluation into two distinct phases. You must reach an 8% profit target in Phase 1 and a 5% profit target in Phase 2. Just like the 1-step model, the minimum trading requirement is only 1 day per phase, meaning a highly skilled trader can still complete the entire evaluation in just 2 days.
The primary benefit of the 2-step model lies in its relaxed drawdown parameters. It offers a 5% daily drawdown limit and a much safer 10% static maximum drawdown. Because the maximum drawdown is static, it remains fixed relative to your initial starting balance, providing a wider safety net during periods of market volatility. This structural cushion makes the 2-step model highly attractive to swing traders, portfolio diversifiers, and those who trade highly volatile altcoins where intraday swings can be exceptionally violent.
My Funded Perpetuals Pricing and Code
My Funded Perpetuals pricing is directly tied to your selected virtual starting capital, with options scaling from a starter $5,000 account up to the top-tier $100,000 account. This pricing model ensures both retail traders testing the waters and experienced professionals seeking massive buying power can find a suitable entry point.
Whichever size you select, you can lower your entry costs. When signing up for any of the options under the my funded perpetuals account types explained here, you can apply code CRITIC at checkout to receive 20% off the evaluation fee. This discount significantly lowers the cost of admission, allowing you to allocate more resources toward optimizing your trading setup and connectivity.
Understanding MyFundedPerps Rules: Daily and Maximum Drawdown Limits
MyFundedPerps (see our MyFundedPerps review) enforces strict risk management guidelines using two primary drawdown metrics: a daily loss limit and a maximum overall drawdown limit. While these rules protect the platform's virtual capital, the exact mechanics depend on which of the my funded perpetuals account types explained in this guide you choose to trade. Understanding these distinct limits is critical to passing the evaluations and keeping your funded account active.
Daily vs. Maximum Drawdown Limits
The risk parameters diverge significantly between the 1-Step and 2-Step evaluation models. The 1-Step evaluation features tighter risk limits, whereas the 2-Step evaluation provides wider, more conservative boundaries for traders to navigate.
| Evaluation Model | Daily Drawdown Limit | Max Drawdown Type | Max Drawdown Limit | Account Sizes Available |
|---|---|---|---|---|
| 1-Step Account | 4% | Trailing | 6% | $5,000 to $100,000 |
| 2-Step Account | 5% | Static | 10% | $5,000 to $100,000 |
How the Daily Drawdown Works
The daily simulated drawdown limit is calculated based on the starting equity or balance of each new trading day, which resets daily at 00:00 UTC. This rule is designed to prevent runaway losses during high-volatility events, which are incredibly common in the cryptocurrency perpetuals markets.
- 1-Step Accounts: The daily simulated drawdown limit is set at 4%.
- 2-Step Accounts: The daily simulated drawdown limit is set at 5%.
The daily drawdown is calculated using whichever value is higher at the daily reset: your starting balance or starting equity. For instance, if you start the day with a balance of $100,000 and have no open trades, your daily loss limit on a 2-Step account (5%) is $5,000. If your account equity or balance drops below $95,000 at any point during that 24-hour cycle, your account will experience a hard breach, resulting in instant disqualification.
The Pitfalls of the 1-Step Trailing Drawdown
A critical factor to understand before opting for the 1-Step model is how its 6% trailing maximum drawdown functions. Unlike a static limit, a trailing drawdown dynamically tracks the "high-water mark" of your account equity or balance.
Trading crypto perpetual contracts involves extreme volatility, and leveraged setups can rapidly accelerate losses if risk controls are ignored. Moreover, because cryptocurrency derivatives exist in a highly fluid global regulatory landscape, operating with a trailing drawdown demands complete operational discipline.
Suppose you are trading a $100,000 virtual evaluation account under the MyFundedPerps drawdown rules for this model:
- Your initial maximum drawdown breach level is set at $94,000 (6% below $100,000).
- Suppose you open a highly successful trade, and your account equity grows to $105,000. Your trailing drawdown level rises in tandem to $99,000 (which is $105,000 minus 6%).
- If your account equity subsequently falls, your drawdown limit does not drop. It remains locked at $99,000.
- If you close your trades and your account balance settles at $105,000, your drawdown floor is permanently anchored at $99,000. If your account equity later drops to $98,900, you will breach the account, even though you are still up $4,000 from your initial starting balance.
This trailing behavior stops once your trailing drawdown level reaches your initial starting balance of $100,000. From that point forward, it becomes a static drawdown at $100,000, meaning your secured profits above that point act as a buffer. However, getting to that point requires highly disciplined position management and avoiding "holding" trades through major pullbacks.
The Safety of the 2-Step Static Drawdown
In contrast, the 2-Step account utilizes a safer, static maximum drawdown set at 10%. This means the maximum loss limit is permanently anchored to your initial starting balance.
For example, on a $100,000 virtual account, your maximum absolute loss limit is fixed at $90,000. Even if your account balance scales up to $110,000 or $120,000, your breach level remains at $90,000. This makes the 2-Step model highly favored by swing traders and conservative risk managers. Because the limit never trails upward, your permitted loss limit remains predictable and easy to calculate as you build up profits, providing you with a true equity cushion to navigate volatile market phases.
If you are ready to start your evaluation under these MyFundedPerps rules, you can secure 20% OFF with code CRITIC when purchasing any evaluation tier.
Trading on Vertex Protocol: MyFundedPerps Leverage and Platform Mechanics
Trading on Vertex Protocol through MyFundedPerps utilizes a high-speed, hybrid decentralized exchange (DEX) order book that provides up to 1:20 leverage on major cryptocurrency perpetual contracts. This setup eliminates traditional broker manipulation and minimizes slippage, delivering a fair and transparent environment for crypto perpetuals prop trading.
The Vertex Protocol Edge
For traders accustomed to traditional prop platforms, migrating to a Vertex protocol prop firm model represents a massive upgrade in execution quality. Vertex operates as a hybrid DEX, merging the speed of a centralized limit order book (CLOB) with the self-custodial security of on-chain settlement on the Arbitrum layer-2 network. By utilizing direct integration with the Vertex Protocol SDK, the platform ensures direct hybrid order book execution for highly accurate decentralized fills. This integration solves several legacy issues:
- No Broker Manipulation: Price feeds match real-time decentralized market spot and perp rates, meaning there are no arbitrary platform spread spikes or artificial "stop hunts" designed to fail your challenge.
- Ultra-Low Latency: The off-chain matching engine processes trades instantly, reducing execution slippage to a fraction of a percent.
- On-Chain Transparency: All trade execution is settled on the blockchain, ensuring transparent and verifiable execution for every transaction.
MyFundedPerps Leverage and Asset Class Mechanics
When managing virtual capital on this DEX, understanding the available MyFundedPerps leverage is vital for account survival. The platform scales available leverage based on the underlying asset's market cap and liquidity profile. Majors like Bitcoin (BTC) and Ethereum (ETH) qualify for the maximum leverage of 1:20, while mid-cap and high-beta altcoins are capped at lower tiers to protect traders from instant liquidation. This tiered leverage structure ensures that traders do not over-leverage highly volatile assets, which could instantly wipe out an evaluation account.
Because Vertex uses a cross-margin architecture, your entire account equity acts as collateral for your open positions. This means a winning position in Bitcoin can offset a temporary drawdown in an altcoin position, but it also means a single highly leveraged, poorly managed position can drag down your entire account equity and trigger a daily or maximum drawdown breach.
| Asset Class | Supported Cryptocurrencies | Maximum Leverage | Risk & Volatility Profile |
|---|---|---|---|
| Majors | BTC, ETH | Up to 1:20 | Medium; high liquidity and lower relative spread |
| Mid-Caps | SOL, LINK, AVAX, etc. | Capped at 1:10 | High; elevated price swings but reliable depth |
| High-Beta Altcoins | Trending Meme Coins & DeFi | Capped at 1:2 to 1:5 | Extreme; massive intraday volatility and slippage potential |
Navigating High-Beta Altcoin Volatility
While the primary focus for many remains stable majors, the expansion of the tradable perpetual assets list on Vertex allows users to speculate on highly volatile altcoins. However, these high-beta instruments require strict risk management. Because price action in altcoins can move 10% to 20% within minutes, trading them at even modest leverage can quickly violate daily or maximum drawdown parameters.
Furthermore, when testing strategies across different setups, keeping the my funded perpetuals account types explained in other sections in mind is crucial. For instance, the 1-Step Evaluation's trailing drawdown is far more sensitive to the sharp pullbacks typical of high-beta altcoins compared to the static drawdown of the 2-Step Evaluation. If you intend to trade highly volatile altcoins, the 2-Step Challenge's static drawdown offers a much safer environment to handle intraday price swings.
To maximize your chances of success across these decentralized markets, secure your evaluation utilizing our exclusive MyFundedPerps discount: you can get 20% OFF with code CRITIC when purchasing your account.
My Funded Perpetuals Payouts: Profit Splits and Capital Scaling Plans
My Funded Perpetuals offers a highly competitive profit-sharing structure featuring a baseline 80% profit split that can scale up to 90% for consistently profitable traders. These payouts are processed directly in stablecoins (USDC or USDT) to a trader's Web3 wallet, requiring a minimum of only 1 trading day to qualify for a withdrawal.
This decentralized approach to capital payouts removes the friction typical of traditional brokerage models, allowing retail traders to access their simulated earnings with speed and transparency.
How the Profit Split and Scaling Plans Work
When you successfully pass your evaluation phase and transition to a funded account, you receive a standard 80% profit split by default. Over time, as you hit consistent performance milestones and manage your drawdown within the established limits, you can qualify for the firm's capital scaling plan.
Under the scaling model, successful traders can unlock a premium 90% profit split. At the same time, the firm scales the virtual capital allocated to the account, allowing you to manage larger position sizes.
To qualify for scaling, traders typically need to achieve a total profit of 10% or more over a consecutive 30-day period while remaining fully compliant with all drawdown limits. Once met, the platform increases your account's virtual capital by 25% of its initial starting size, up to a maximum cap. For example, a $100,000 account would scale to $125,000, giving you increased buying power to trade larger volumes on major crypto pairs with up to 1:20 leverage.
When studying how the various my funded perpetuals account types explained their operational rules, both the 1-Step and 2-Step MyFundedPerps account models feed directly into this identical, performance-driven scaling pathway.
Payout Mechanics and Web3 Settlements
The payout system at My Funded Perpetuals is designed for modern, decentralized finance (DeFi) participants. Because the platform executes trades via the Vertex Protocol, its payout infrastructure is built to align with Web3 standards.
- Stablecoin Settlement: All profit splits are processed and settled directly in major stablecoins, specifically USDC and USDT, protecting your earnings from immediate market volatility.
- Direct Wallet Transfers: Payouts are sent straight to your self-custody Web3 wallet. This bypasses legacy bank wires, international routing codes, and third-party payment processors.
- 1-Day Minimum Trading Requirement: According to official My Funded Perpetuals documentation, you only need a minimum of 1 active trading day to qualify for a payout, making the transition from profit generation to extraction incredibly fast.
| Feature | Specification |
|---|---|
| Standard Profit Split | 80% |
| Maximum Scaled Profit Split | 90% |
| Minimum Trading Days for Payout | 1 day |
| Settlement Cryptocurrencies | USDC / USDT |
| Payout Destination | Trader's Web3 Wallet |
| Execution Platform | Vertex Protocol |
Accessing the Platform
For traders looking to leverage high-beta crypto perpetual contracts without risking their personal capital, getting started with these MyFundedPerps account models is highly accessible. You can save on the initial purchase fees by using the discount code CRITIC at checkout to receive 20% OFF your evaluation fee. This discount directly lowers the entry cost for all account sizes—ranging from $5,000 up to $100,000—giving you a more cost-effective entry point to start crypto perpetuals prop trading under institutional-grade conditions.
Verdict
For most traders, the 2-Step Evaluation is the superior account type due to its highly forgiving 10% static maximum drawdown and a wider 5% daily loss limit, compared to the rigid 6% trailing drawdown and 4% daily limit on the 1-Step model. Choose the 1-Step Evaluation if you are a fast-paced momentum trader confident in your execution speed and want to secure an 80% profit split in as little as 24 hours under a single 10% profit target. However, choose the 2-Step Evaluation if you manage swing positions, trade volatile high-beta altcoins, or require a predictable static drawdown cushion that does not rise when you secure profits. Using code CRITIC secures 20% off either path across all account tiers from $5,000 to $100,000.
Frequently Asked Questions
What are the different account types offered by My Funded Perpetuals?
My Funded Perpetuals offers two primary virtual account models: the 1-Step Evaluation and the 2-Step Evaluation. Both account types provide virtual capital ranging from $5,000 to $100,000. Designed for crypto perpetuals prop trading, these models run on the decentralized Vertex Protocol, enabling traders to speculate on crypto perpetuals with up to 1:20 leverage and an 80% starting profit split.
What is the difference between the 1-Step and 2-Step MyFundedPerps challenges?
The 1-Step Challenge requires reaching a single 10% profit target with a 4% daily loss limit and a 6% trailing maximum drawdown. In contrast, the 2-Step Challenge requires reaching an 8% profit target in Phase 1 and a 5% target in Phase 2, but offers safer, more lenient risk limits including a 5% daily limit and a 10% static maximum drawdown.
How does the drawdown limit work on My Funded Perpetuals accounts?
Daily drawdown is set at 4% for 1-Step accounts and 5% for 2-Step accounts, calculated daily from your starting equity or balance at 00:00 UTC. The maximum drawdown on the 1-Step account is a 6% trailing limit that tracks your high-water mark, while the 2-Step account utilizes a safer, permanent 10% static drawdown based on your starting capital.
What platforms and leverage are available for MyFundedPerps traders?
Traders execute their positions on the Vertex Protocol, a hybrid decentralized exchange (DEX) order book operating on the Arbitrum layer-2 network. The platform offers up to 1:20 leverage on major cryptocurrency perpetual contracts like BTC and ETH, while mid-cap and high-beta altcoins feature lower leverage limits (typically capped at 1:5 or 1:10) to manage volatility.
How do payouts and profit splits work on My Funded Perpetuals?
Traders receive an 80% default profit split, which can scale up to 90% via the capital scaling plan as they hit performance milestones. Payouts require only 1 minimum trading day and are settled directly in stablecoins (USDC or USDT) sent straight to your non-custodial Web3 wallet, bypassing traditional banking delays and payment processors.
