Why is my actual payout lower than my gross profit × profit split?

Profit split is usually the last-stage deduction, not the only one. Depending on the firm, your gross profit goes through up to five prior gates: a consistency-rule check (blocks payouts where a single day dominates total profit), a safety-net buffer (you must keep the account above starting balance plus a drawdown-sized buffer), a payout cap (per-cycle or per-size), and the tiered split itself. First-payout refunds then add back the challenge fee. The 'payout split' traders quote is the best case — the actual take is after every gate has had its turn.

How does Apex's safety-net buffer work?

For the first three payouts on a PA account, Apex requires the balance to stay at least starting-balance + drawdown + $100 after withdrawal. On a $100K account with a $3,000 drawdown, the floor is $103,100. If the balance is $105,000, only $1,900 is withdrawable under this rule — and that amount then goes through the tiered split, further reducing the net take. The minimum payout of $500 is allowed to encroach on the buffer once per cycle.

How does Apex's tiered 100%/$25K then 90/10 split actually work?

The first $25,000 of cumulative profit (across all payouts in the account's lifetime, not per cycle) is paid out at 100% — trader keeps everything. Every dollar of profit beyond the $25K threshold is split 90/10 with Apex. This calculator models the per-cycle view: if your gross profit this cycle crosses the $25K boundary, the split applies piecewise — e.g. a $30K gross with no prior payouts would give $25K × 100% + $5K × 90% = $29,500. The calculator does not currently track cumulative lifetime profit across cycles.

What happens with the first-payout refund on FTMO and similar firms?

FTMO, FundedNext, and E8 Markets refund the original challenge fee on the first successful payout. This is a straight credit on top of the split-adjusted amount. A $100K FTMO trader whose first payout of $5K clears at 80/20 takes home $4,000 plus the $345 refund = $4,345. After the first payout, the refund no longer applies. The calculator's 'Payout number' slider lets you see the difference between the boosted first payout and the steady-state takes that follow.

How does the milestone split bump work?

Several firms bump the trader's share upward after a threshold number of payouts. FTMO moves from 80/20 to 90/10 after 3 processed payouts. FundedNext does the same after 4. Apex goes from 90/10 (after the first $25K) to 100% after 5 payouts. The calculator applies the milestone split automatically once the 'Payout number' slider is past the threshold. Until the milestone is hit, you're at the base tier — which is often a larger gap between marketed rate and realized rate than traders expect.

Payout Calculator | Prop Firms Data

Home/Tools/Payout CalculatorPayout CalculatorGross profit → consistency gate → safety-net buffer → payout cap → tiered split → refund → net. See exactly where every dollar goes.
Select Firm
Account Size
TIERED SPLIT30% CONSISTENCYMILESTONE @ 5
100% of first $25K, then 90/10. Balance must stay ≥ starting + drawdown + $100 for first 3 payouts. Payout capped for first 3 (size-specific). After 5 payouts, 100% split.
Your Payout RequestGross profit this cycle ($)
Best single day profit ($)
Current account balance ($)
Payout number1st payout
Standard split applies.
Your Take-Home
$1,900
Effective take rate: 38.0% of gross profit
GROSS PROFIT
$5,000
FIRM KEEPS
$3,100
YOU KEEP
$1,900
EFFECTIVE SPLIT
38.0%
ADVERTISED SPLIT
tiered
REFUND
—
Payout Waterfall5 stages
Stage by Stage1
Gross profit this cycle
Starting point: your cycle's profit before any gates apply.
$5,000
2
Consistency gate (30% rule)
Best day is 24.0% of total — under the 30% limit. Gate passes.
$5,000
3
Safety-net buffer
Balance must stay ≥ $103,100 (starting + $3,100 buffer). Max withdrawable = $1,900. Applies to first 3 payouts.
$1,900
−$3,100
4
Payout cap
Requested amount $1,900 is under the cap of $2,500. Pass.
$1,900
5
Profit split (tiered)
$1,900 × 100% = $1,900
$1,900
How It WorksWaterfall Sequence1. Consistency gate
if (best_day / cumulative_profit) > consistency_pct:
  gross = min(gross, best_day / consistency_pct)
2. Safety-net buffer (first-N payouts on some firms)
floor = starting_balance + drawdown + buffer_offset
max_withdrawable = balance − floor
gross = min(gross, max_withdrawable)
3. Payout cap (absolute, fractional, or first-N per-size)
gross = min(gross, cap)
4. Tiered split (piecewise)
for each tier: trader_keeps += min(remaining, tier_cap) × tier_share
5. First-payout refund (additive)
if payout_number == 1 and refund_firm:
  net = trader_keeps + refund_amount
The advertised split is rarely the realized split. At your current inputs, Apex Trader Funding advertises a tiered 100/90 split, but your effective rate on this $5,000 gross is 38.0%. The gap is every stage that sits between gross and split — consistency gates, safety-net buffers, and per-cycle caps. Traders see the headline 80/20 or 90/10 and plan against it; the actual first few payouts land well below that line.
The first three payouts are the hardest. Apex Trader Funding requires a safety-net buffer above starting balance for the first 3 payouts. On a $100,000 account that means keeping $3,100 above the starting balance at all times — limiting what can actually be withdrawn even when gross profit looks healthy. After the third payout, the buffer goes away and withdrawals get meaningfully larger.
Milestone bumps reward patience. Apex Trader Funding bumps the split after 5 processed payouts — from the base rate to 100%. If you're at payout 1 now, that's 5 more cycles before the milestone kicks in. Every payout before that is at the lower rate — factor that into your expected monthly take.
Refunds change first-payout economics meaningfully. Apex Trader Funding doesn't refund the challenge fee on first payout — true cost is a sunk cost from day one. If you're comparing refund vs. non-refund firms at similar sticker prices, the refund firm gets meaningfully better effective economics on the first payout.
What this tool does NOT model: running balance across multiple payouts (tiered splits reset each cycle in this model, which is correct for most firms but not for lifetime-cumulative-split firms where the $25K or $10K threshold is global — use the payout-number slider and manually subtract prior payouts to approximate), payout processing delays, tax withholding, withdrawal fees (Wise, crypto, Deel), and country-specific limitations. The numbers here are the gross economics — not what lands in your bank account after all the plumbing.
Next StepsThe payout calculator tells you what lands in your account from a single cycle's gross profit. The Break-Even Calculator aggregates these cycles into months-to-recoup. The Consistency Rule Calculator lets you stress-test the best-day check before you request a payout. And the EV Calculator uses the monthly take-home this tool implies to evaluate whether the challenge was positive EV in the first place.
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→📊Consistency Rule CalculatorPre-payout check
Before you request, check whether your best-day ratio passes the consistency gate. Avoid the shock of a blocked payout.
→📈Break-Even CalculatorPayouts over time
Take this tool's per-cycle net and project months to recoup true cost across many payouts with blowup risk baked in.
→🎯EV CalculatorWas it worth it?
Feed an expected monthly take-home into the EV calculator to check whether the challenge was net positive before fees.
→
Educational purposes only — verify all rules, caps, and refund policies at the firm's website before planning around these numbers. Payout mechanics change; last verified: April 2026.
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