The short answer
Four Upcomers programs are available on perpetuals. Thunderbolt Classic is a one-phase challenge, Phoenix Classic is a two-phase challenge, and Vanguard and Oracle are instant funding with no challenge at all.
They share the same engine you already know: daily drawdown reset at 00:00 UTC, a maximum drawdown floor, a max single trade loss on funded accounts, and the Best Day Rule at 20% on the payout.
Master comparison
Thunderbolt Classic | Phoenix Classic | Vanguard | Oracle | |
Structure | 1 challenge phase, then funded | 2 challenge phases, then funded | Instant funding | Instant funding |
Profit target | 6% | 5% then 5% | None | None |
Daily drawdown | 3% | 3.5% | 3% | 3% |
Maximum drawdown | 6% trailing | 6% fixed | 7% trailing | 5% trailing |
Max single trade loss (funded) | 2% | 2% | 1.5% | 1.5% |
Minimum trading days before payout | None | None | 6 | 5 |
Best Day Rule | 20% | 20% | 20% | 20% |
Account sizes | $5,000 to $1,500,000 | $5,000 to $1,500,000 | $2,000 to $1,500,000 | $5,000 to $1,500,000 |
Starting price | $159 | $139 | $159 | $239 |
All four are available in USD, EUR and GBP.
Thunderbolt Classic
One challenge phase and then a funded account. Reach a 6% profit target without breaking the drawdown rules and the account converts.
Daily drawdown 3%, measured from your starting equity or balance at 00:00 UTC, whichever is higher. A hard breach.
Trailing maximum drawdown 6% (Dynamic Risk Shield™). The floor follows your equity higher and never moves back down, and it locks once it reaches your starting balance. A hard breach.
Max single trade loss 2% on the funded account. A hard breach.
Best Day Rule 20% at payout. A soft rule that gates the withdrawal, never the account.
Phoenix Classic
Two challenge phases, each with a 5% profit target, then a funded account. Phoenix is the only perpetuals program with a fixed maximum drawdown rather than a trailing one, so your floor never moves at all.
Daily drawdown 3.5%, reset at 00:00 UTC. A hard breach.
Maximum drawdown 6%, fixed below your starting balance. It does not trail your equity up, which means profit you make is never used to raise the floor. A hard breach.
Max single trade loss 2% on the funded account. A hard breach.
Best Day Rule 20% at payout.
Vanguard (instant funding)
No challenge. You start on a funded account from day one, with the widest maximum drawdown of the four.
Daily drawdown 3%, reset at 00:00 UTC. A hard breach.
Trailing maximum drawdown 7%. A hard breach.
Max single trade loss 1.5%. A hard breach.
Minimum 6 trading days before your first payout request.
Best Day Rule 20% at payout.
Oracle (instant funding)
Also instant funding, with a tighter 5% floor and a slightly shorter trading-day minimum.
Daily drawdown 3%, reset at 00:00 UTC. A hard breach.
Trailing maximum drawdown 5%. A hard breach.
Max single trade loss 1.5%. A hard breach.
Minimum 5 trading days before your first payout request.
Best Day Rule 20% at payout.
What counts as a day on a market that never closes
This is the question perpetuals raises that no other Upcomers product does, so it is worth stating plainly. Perpetuals markets have no daily close, but your account still runs on a daily clock:
The day boundary is 00:00 UTC. At that moment the system records your starting equity or balance, whichever is higher, and your daily drawdown level for the next 24 hours is calculated from it.
A trading day is a day on which you closed at least one trade. That is what the minimum trading day counts and the Best Day Rule both use, measured on the same 00:00 UTC boundary.
Positions held across the boundary are not closed or reset. Only the level that would breach you is recalculated. A trade opened on Saturday and closed on Monday is perfectly normal here.
See Markets never close: trading 24/7 for what this means in practice.
Funding and fees count
Funding payments and trading fees both move your balance, and therefore your equity. They count toward your daily drawdown, toward your maximum drawdown, and toward your profit target and payout in exactly the same way a winning or losing trade does. See Funding rates, explained and Fees and how your order fills.
Inactivity
The standard Upcomers inactivity period of 35 consecutive days applies. Close a single trade within each 35-day window and the timer resets. See What's the period of inactivity?.
These accounts are simulated
Every Upcomers Perpetuals account, challenge and funded alike, is simulated: you trade a simulated balance against real live Hyperliquid prices, and no order is sent to the exchange under your name. The payout is real money. See What are Upcomers Perpetuals?.
General Rules Notice
This product, like all Upcomers programs, is subject to our standard trading rules and policies. These include our framework on prohibited strategies and our guidelines on responsible trading and gambling-style behavior, both of which apply across all our challenges, funded accounts, and products.
We recommend reviewing both articles before you begin trading:
Prohibited strategies: https://help.upcomers.com/en/articles/8703143-what-trading-strategies-are-prohibited-at-upcomers
Rules restricting gambling: https://help.upcomers.com/en/articles/11484528-rules-restricting-gambling
Where to go next
Read Leverage and margin on perpetuals for how to size against your drawdown floor, Best Day Rule - The Complete Guide for the payout gate, and What are Upcomers Perpetuals? for the product overview.
Profit split note: The standard Upcomers profit split is 90%. Depending on the option selected at checkout, it can be adjusted to 80% or 100%. Changing the profit split also changes the Challenge price. The selected profit split remains linked to that account. Accounts purchased under previous conditions retain the profit split assigned at the time of purchase.