> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fundingperpetuals.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Challenge Lifecycle

> Follow a Funding Perpetuals challenge from purchase through evaluation, funding, payouts, and account history.

A challenge moves through a defined sequence. The exact targets, limits,
number of evaluation steps, and payout terms come from the plan attached to
your account.

## The complete path

1. [Choose and buy a challenge](/guides/challenge-lifecycle/buying-a-challenge).
2. [Track evaluation progress](/guides/challenge-lifecycle/evaluation-progress)
   without breaching a rule.
3. If the account fails, review the
   [breach and next-step guidance](/guides/challenge-lifecycle/breaches-and-next-steps).
4. After the final evaluation passes, complete the
   [funding path](/guides/challenge-lifecycle/becoming-funded).
5. On an active funded account, meet the current terms and
   [request a payout](/guides/challenge-lifecycle/payouts).
6. Use [Billing and Rewards](/guides/challenge-lifecycle/billing-and-rewards)
   to find purchase records, invoices, FP Points, and reward cases.

## Account stages and statuses

The account switcher shows both a stage and a status. They answer different
questions:

| Field  | What it means                                                     |
| ------ | ----------------------------------------------------------------- |
| Stage  | Whether the account is an evaluation account or a funded account. |
| Status | Whether that account is active, passed, failed, or closed.        |

A passed evaluation remains in your history. A funded account is a separate
account issued after the required post-pass steps.

<Note>
  The rule card, pass-progress card, funding path, and payout panel inside the
  selected account are the source of truth for that account's current state.
</Note>

## Where to look

* [Dashboard](https://fundingperpetuals.com/dashboard): balance, equity, rule
  headroom, pass progress, and post-pass actions.
* [Trade](https://fundingperpetuals.com/trade): positions, orders, and trading
  activity for the selected account.
* [Payouts](https://fundingperpetuals.com/dashboard/payouts): funded payout
  terms, eligibility, Rise onboarding, requests, and payout history.
* [Purchase History](https://fundingperpetuals.com/settings?section=purchases):
  challenge orders, statuses, and available invoice actions.
* [Rewards](https://fundingperpetuals.com/rewards): reward cases, FP Points,
  and any enabled campaigns.