Payouts for your affiliates are created similarly to your store payouts.
Twice monthly, on the 1st and 15th, payouts are created including all approved referrals since the last payout. Referral commissions are held for 30 days before becoming available and then payouts are paid on the 14th and 28th of the month.
If you want you can set a custom minimum amount that affiliates must reach before payouts are created for them. By default this setting is $10.