Legal & Risk

pairpetuals.com (the “Site”) is a software interface and analysis layer. It reads public market data — principally the Hyperliquid public API — and presents that data, including two perpetual markets viewed as a pair. Charts, stats, signals, plans, thresholds, and tickets are tools for looking at that data. They are not a venue.

Trading does not occur on the Site. Matching, margin, liquidation, funding, and settlement occur on the Hyperliquid protocol, which we do not own, operate, or control.

The trading relationship is between your wallet and Hyperliquid. A position is opened, changed, or closed only when your wallet authorises a message to that protocol. The Site does not stand between you and Hyperliquid as broker, dealer, exchange, or counterparty. It constructs views and, if you enable it, can relay a protocol message you already authorised.

The Site does not decide whether to trade, what to trade, how much to trade, or when to trade. It executes the parameters you set, mechanically, on a credential you grant and can revoke. You are trading for yourself with a tool, not through an arranger.

Looking at the Site is not a trade. Connecting a wallet is not a trade. A trade is a separate, explicit authorisation you sign.

We are not your broker, dealer, exchange, clearer, custodian, adviser, or counterparty. We do not take the other side. Nothing on the Site is an offer of a security or a derivative, and nothing on the Site is a recommendation.

We are not licensed or registered by any financial authority. No regulator has approved the Site. That means you get none of the protections a licensed firm’s customer would: no client-money segregation, no compensation scheme, no ombudsman, no suitability or best-execution duty. We are not authorised by the UK FCA and no FOS or FSCS protection applies. We are not a MiFID investment firm. We hold no Australian financial services licence. We are not a MiCA crypto-asset service provider. We are not authorised by the Monetary Authority of Singapore, and Hyperliquid appears on MAS’s investor alert list — that listing concerns the protocol, not this Site, but you should read it before you decide anything.

The Site is not offered to anyone in a Restricted Jurisdiction. That includes the United States (including U.S. Persons wherever they are), the United Kingdom, the EU and EEA, Switzerland, Australia, Canada, Singapore, Hong Kong, Japan, South Korea, China, India, New Zealand, and sanctioned countries, regions, and persons. The full list is in the Terms.

If using the Site is unlawful where you are, do not use it. Loading the page does not make you a permitted user, and using a VPN or proxy to appear elsewhere is a breach of the Terms.

We never take custody of your funds. We never receive your seed phrase or the signing key that can withdraw.

If you enable protocol submission through the Site, you sign two Hyperliquid authorisations in your own wallet:

1. a limited agent credential — it can submit messages to Hyperliquid for your account; it cannot withdraw, transfer, or move funds; it expires; you can revoke it;
2. a builder-fee cap — currently 0.04% — which bounds any builder fee attached to trades that occur on Hyperliquid for the wallet attached to this account.

We generate that limited agent credential and store it encrypted so the Site can submit the tickets you construct or arm. That is not custody of assets. It is a limited trading authorisation you granted to act toward Hyperliquid, and you can kill it.

The agent credential is never used to collect fees. It cannot move funds; that is structural, not a policy. Fees are charged and collected as described under Fees below and in the Terms (Section 8).

Nothing hits the protocol unless your wallet first showed you a prompt and you signed it, or you already signed the agent and later armed a ticket that uses it. In every case, Hyperliquid receives the message from your account. The Site is the layer that builds and, if armed, forwards that message.

An armed entry or exit is your standing instruction. You set the market, side, size, and trigger. When the condition you set is met, software on the Site may submit a message through the agent you approved — including while you are offline. An armed entry fires once: the fill consumes the arm, and the ticket returns to an unarmed watch when the position opens. It does not fire again unless you arm it again.

We do not pick the trade. We do not manage a portfolio. We do not promise the instruction will be sent, filled, filled at a price you like, or filled before a liquidation. We have no duty to monitor, warn, pause, or step in. The Site cannot alter your instruction — it forwards what you set, or it does not forward. If you do not want a ticket live, disarm it and revoke the agent. How that claim is tested is described at How the Engines Are Tested.

Hyperliquid charges protocol fees on the relationship between your wallet and the protocol. Those are Hyperliquid’s fees; we do not set them and do not receive them.

Our fee is a construction fee — a software fee charged when the Site builds an order payload from your parameters, at the per-feature rate shown on the ticket before you commit, applied per leg to the size you set. It is journaled to your tab at construction time. If the construction does not fill — cancelled, expired, or failed — the fee is rebated to your tab automatically; partial fills rebate the unfilled fraction.

Every account opens with a construction credit (currently USD 20). The credit offsets construction fees; it is not money, cannot be withdrawn, and expires with your account. You are never asked to prepay, and the Site does not hold your funds.

Accrued construction fees are collected through the Hyperliquid builder fee, inside the 0.04% cap you signed — one fee, accrued once at construction, collected once, never twice. The reconciliation ledger on your account page shows accrued against collected and credits back any over-collection. You can revoke the builder-fee approval at any time.

Perpetual futures are leveraged. A pair is two perpetual positions on Hyperliquid. Both legs can lose. You can be liquidated. Funding, oracles, liquidity holes, and protocol or chain failure are yours. We cannot reverse a fill.

Charts, stats, signals, plans, and thresholds are information produced by the analysis layer. They are not an instruction to trade. Using the Site does not create a fiduciary or advisory relationship. History and backtests are not a forecast.

Public wallet address; session data; watches and armed tickets you save; if you enable protocol submission, the encrypted limited agent; and a log that you accepted the Terms (time, wallet, version, IP). We do not keep wallet keys.

Position caps, geo-blocks, pauses, and kill-switches are operational. They are not insurance, compensation schemes, or a duty of care.

The Site is provided as-is. Data can be late, wrong, or gone. We can change or shut the Site. Your positions on Hyperliquid are not the Site and survive it. They remain on the protocol, in the relationship between your wallet and Hyperliquid.