# Maximum payout

Source: https://docs.mog.xyz/trading/maximum-payout/

Markdown: https://docs.mog.xyz/trading/maximum-payout.md

Reviewed protocol version: 6.0.1

Protocol review date: 2026-09-18

Scope: reviewed public documentation. Numerical examples use illustrative or launch settings; they are not live quotes or a guarantee of current deployed parameters. Consult the app for current market and position values.

Your position's **profit cap**, or maximum payout, is its profit limit **before fees**. The app's **Max profit** shows that amount **after the profit fee**. Your remaining cash margin returns to your balance separately.

The **payout price** is the price that automatically closes the position at its profit cap.

Every long receives Mog's current profit cap when it fills. Larger positions need a smaller price move to reach that same cap. Your open position keeps its cap as the treasury changes.

**Long position · price levels**

Schematic, not a live price quote.

- Liquidation: below entry, where active margin is lost.
- Entry: your fill price.
- Payout price: above entry, where the profit cap is reached.

## A growing profit cap

At launch, the profit cap is the greater of **10,000 USDG or 10% of available treasury equity**. As Mog builds liquidity, the profit cap grows with it.

More equity, larger profit caps

The profit cap before fees stays at 10,000 USDG until available treasury equity reaches 100,000 USDG, then grows at 10 percent of equity.

Launch formula: `profit cap = max(10000, 0.1 × F)`. F is available treasury equity in USDG; the result is profit before fees in USDG. Existing positions keep the cap set at fill.

| Available treasury equity (USDG) | Profit cap before fees (USDG) |
| -------------------------------- | ----------------------------- |
| 0                                | 10,000                        |
| 100,000                          | 10,000                        |
| 200,000                          | 20,000                        |
| 400,000                          | 40,000                        |

Profit cap before fees; the app’s Max profit deducts the fee. Existing positions keep their cap.

**View the payout-cap formula**

$$
J=\max(\beta F,J_0)
$$

$J$ is the profit cap before fees and $F$ is available treasury equity. At launch, $\beta=10\%$ and $J_0=10{,}000$ USDG.

## Available treasury equity

This is treasury cash after accounting for unpaid payouts, claims used as collateral, and allocated protocol payments. Traders' cash collateral is held separately.

## Shorts and position limits

A short's cap also accounts for how far the price can fall, keeping its payout price above zero. The position's cap is fixed at fill.

Entry margin is limited to half the current profit cap at launch. Market and exposure limits also apply.

## Receiving your payout

With enough treasury cash, profit after [fees](https://docs.mog.xyz/trading/fees/) is available as cash at settlement. Only the unfunded portion enters [the payout queue](https://docs.mog.xyz/account/payout-queue/). The cap defines the amount you can earn; available cash determines whether any of it needs to queue.