The daily limit is measured from the day's starting balance or equity. Open losing trades count toward it.
Formula
Daily floor = day-start balance × (1 − daily limit %)
Example
$25,000 account with a 4% daily limit: you may not drop below $24,000 today.
At Aveon Funding
One Step 5%, Two Step 4%, Instant Funding Lite 3% (end-of-day balance).