FAQ
Graybook FAQ: In writing.
Straight answers about accounts, rules, trading and payouts. Every number here comes from the same rules the platform enforces.
Is this live capital?
No. Every account is simulated; you never risk your own funds.No. Graybook is a simulated trading environment: every account trades simulated capital, and you never risk your own funds in the market. You pay a one-time fee for the account, and payouts follow the program rules.
What's the difference between an Evaluation and a Rapid account?
Evaluation: pass a target first. Rapid: funded from day one.An Evaluation account is the lower-cost path: hit a 10% profit target within the risk rules, and you're funded with an 80% profit split. A Rapid account skips the evaluation entirely: it's funded from day one, with no profit target, a 4% static max loss, a 90% profit split, and payouts on demand.
| Evaluation | Rapid | |
|---|---|---|
| Fee | 1% of balance | 4% of balance |
| Profit target | 10% | None |
| Max loss | 5%, static | 4%, static |
| Daily max loss | 10%, trailing | None |
| Minimum trading days | 2 | None |
| Payouts | Once funded: 80%, every 5 trading days | 90%, on demand |
| Vig | Vig Lite | Vig Pro |
What are the risk rules?
Evaluation: a 5% static max loss and a 10% trailing daily max loss. Rapid: one 4% static max loss.Evaluation: a 10% profit target, a 5% static max loss, a 10% trailing daily max loss, and a minimum of 2 trading days. There is no consistency rule. Rapid: a 4% static max loss and nothing else — no daily loss limit, no profit target, no minimum days.
Example: a $25,000 account
Rapid has no daily loss limit and no profit target.
How do perpetual futures work on Graybook?
Each contract tracks its market, with no expiry and no funding payments.Each contract tracks an underlying market — an index future, a commodity, a stock, a coin, or a currency pair — with no expiry, so a position runs until you close it or it hits your stop or target. There are no funding payments: the cost of carry is fixed at entry, and every tick moves your P&L by a known dollar amount.
Learn more: what are perpetual futures?What happens when the underlying market is closed?
Graybook keeps trading 24/7, then re-anchors when the market reopens.Graybook trades 24/7. When an underlying market closes — over a weekend or a holiday — its perpetual keeps trading and can drift with the flow. The moment the market reopens, the price is anchored back to its official exchange price.
What can I trade?
500+ perpetual contracts across five books.500+ contracts across index futures, commodities, U.S. equities, crypto, and forex, priced on the official feeds of 8 exchanges.
How and when do I get paid?
Funded accounts pay out. Rapid: a 90% split, on demand. Be flat to request one.Evaluations don't pay out: payouts come from funded accounts. Pass your evaluation and your funded account earns an 80% profit split, paid every 5 trading days. Rapid accounts are funded from day one and pay a 90% profit split on demand, whenever you request a payout. To request one you must be flat (no open positions); the minimum payout is $10 and the most you can take out is $10,000 a day.
Paid on demand, whenever you request a payout.
After you pass an evaluation: paid every 5 trading days. Evaluations themselves don't pay out.
What is Vig?
Graybook's AI quant, built into the platform.Vig is Graybook's AI quant, built into the platform. Evaluation accounts include Vig Lite and Rapid accounts include Vig Pro.
Example conversation. Nothing Vig says is investment advice.
How do I pay for an account?
By card, or in crypto: USDC, USDT, BTC or ETH.By card or in crypto (USDC, USDT, BTC, or ETH). A checkout stays open for 10 minutes once you choose how to pay, so crypto amounts and payment addresses are never stale.