Pairpetuals Terms of Use

The Site is a user interface and technology analysis layer. It reads public market data — principally the Hyperliquid public API — and presents that data. Charts, stats, signals, plans, thresholds, and tickets are tools for you to inspect markets and record parameters you choose. They express your intention, not ours.

We do not operate an exchange, matching engine, clearing house, or custodian. Matching, execution, margin, liquidation, funding, and settlement happen on Hyperliquid, which we do not own, operate, or control. We do not hold your private keys and cannot withdraw, transfer, or otherwise move funds from your wallet.

The Site may also display activity that has already occurred on Hyperliquid for the wallet you connect — including fills and positions on that protocol. Display is not execution.

The Site’s order-construction and forwarding layer executes mechanically. It has no discretion over market, direction, size, timing, or whether to trade. It builds what you specified; it forwards what you armed. It never acts on your behalf unless you have armed an instruction. It is not a managed account, a discretionary service, or an arrangement service.

A Hyperliquid builder code may be attached to activity that occurs on Hyperliquid for the wallet attached to this account, where you have approved a fee cap. That adds a builder fee on top of Hyperliquid’s own fees, at per-feature rates disclosed in the interface before you commit and always within the cap your wallet signed. The builder fee operates as the collection mechanism for the construction fee described in Section 8 (Fees).

We are not, and the Site is not:

• a broker-dealer, futures commission merchant, introducing broker, or commodity trading advisor;
• an exchange, multilateral trading facility, or organised trading facility;
• an investment adviser, portfolio manager, or fund;
• a bank, e-money firm, payment institution, money transmitter, VASP, or CASP;
• a counterparty to your trades;
• an arranger of your trades.

Nothing on the Site is an offer of securities, derivatives, or investment advice. Displaying two markets as a pair is a way of presenting data. It is not a recommendation, and it is not a claim that pair trading is safe. A pair is two leveraged perpetual positions on Hyperliquid; both legs can lose money at the same time.

We do not choose your markets, direction, size, or timing. Analysis on the Site is input you may use to form your own intention. That intention is connected to Hyperliquid only if and when your wallet approves a message to the protocol.

We are not authorised to offer a derivatives or crypto-asset trading service to the public in countries where that activity requires a financial licence. Using the Site from those places can put you in breach of local law.

You must not access or use the Site if you are a citizen, resident, tax resident, or person located in, or an entity organised in, any of the following (“Restricted Jurisdictions”):

• United States, including all states and territories. U.S. Persons — defined broadly, including U.S. citizens anywhere in the world, green-card holders, U.S.-organised entities, and persons otherwise subject to U.S. taxation — are prohibited from using the Site for perpetual futures.
• United Kingdom
• Every EU and EEA member state, including Ireland, France, Germany, the Netherlands, Spain, Italy, Sweden, Norway, Iceland, and Liechtenstein
• Switzerland
• Australia
• Canada, including Ontario and Quebec
• Singapore
• Hong Kong
• Japan
• Republic of Korea
• People’s Republic of China
• India
• New Zealand
• United Arab Emirates, unless you are lawfully in a free zone where this activity is permitted to you and does not require us to be licensed
• South Africa
• Brazil
• Israel
• Taiwan
• Türkiye

This list is not an opinion that the product is legal anywhere else.

Sanctions and embargoes

You also must not use the Site if you are in, ordinarily resident in, or organised under the laws of:

• Iran, North Korea, Syria, Cuba, or Belarus;
• Russia, to the extent prohibited by applicable sanctions;
• the Crimea, Donetsk, Luhansk, Kherson, or Zaporizhzhia regions of Ukraine;
• any other country, region, or territory sanctioned or embargoed by the United States, United Kingdom, European Union, United Nations, or Switzerland.

You must not use the Site if you are named on any sanctions list maintained by OFAC, the UN, the UK, the EU, Canada, Singapore, or Switzerland, or if you act for anyone who is.

Other jurisdictions

The Site is also restricted in any other jurisdiction where:

• offering or using the Site would require us to obtain a local financial, derivatives, or virtual-asset licence; or
• holding or trading virtual assets or perpetual futures is unlawful for you.

You represent that you are not using a VPN, proxy, or similar method to appear to be outside a Restricted Jurisdiction, and that you will not help anyone else do so.

Specific notices: we are not authorised or regulated by the UK FCA and no FOS or FSCS protection applies; we are not a MiFID investment firm; we do not hold an Australian financial services licence and no Australian statutory protections apply; 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.

You must be at least 18 years old, able to enter a binding contract, and acting for yourself and not for a person in a Restricted Jurisdiction. You alone are responsible for whether the Site is legal for you where you are.

We do not run KYC at wallet connect. That does not make the Site available where it is not. We may geo-block, refuse a session, suspend, or terminate access at any time with no notice. Technical access is not permission.

You acknowledge that we are not licensed or registered with any financial regulator for this product, and that you therefore receive none of the protections a customer of a licensed firm would have: no client-money segregation, no access to a compensation scheme, no ombudsman or statutory dispute service, and no duty on us of suitability, appropriateness, or best execution.

You connect a self-custodial wallet you control. You represent that you lawfully own or control the wallet you connect and any account it operates on Hyperliquid. You are responsible for the wallet, its seed and keys, your devices, and every approval you sign.

Signing in is a cryptographic signature proving you control the address. It transfers nothing and grants us nothing beyond a session.

Looking at the Site is not a trade. Connecting a wallet is not a trade. A trade occurs on Hyperliquid only when your wallet authorises a message to that protocol.

If you enable protocol submission through the Site, your wallet signs approvals on Hyperliquid itself:

• Limited credential. You approve a restricted signer that we generate. It can submit messages to Hyperliquid for your account. It cannot withdraw, transfer, or move funds, and it expires on its own schedule. We store the credential encrypted and use it solely to forward messages that reflect tickets you constructed or armed on the Site. You can revoke it at any time — through the Site’s Revoke key control or through Hyperliquid itself — and revocation kills it. The credential is never used to collect fees. Fee collection runs as described in Section 8, not through this credential. A revoked, expired, or lost credential cannot be restored — by us or by anyone else. The only way back is a fresh approval signed by your wallet. We cannot recover a wallet, seed, or private key for you; we never hold them.
• Builder-fee approval. You approve a maximum builder fee (currently 0.04%). That cap bounds any builder fee attached to trades that occur on Hyperliquid for the wallet attached to this account. No fee we attach exceeds the cap you signed. The builder fee is the collection mechanism for the construction fee described in Section 8. You can revoke this approval at any time through Hyperliquid’s usual mechanism.

Nothing is signed without a prompt your wallet shows you. Every approval is your act. The parameters on a ticket are your intention; the wallet signature is what connects that intention to Hyperliquid. If your wallet, seed, device, session, or limited credential is compromised, the resulting activity and losses on Hyperliquid are yours — whether or not you authorised the access. An approval obtained from you by phishing or deception is still an approval you signed.

The Site lets you “arm” entries and exits: you set the conditions, size, and limits. Those settings are your standing instruction. When the condition you set is met, software on the Site may forward a message through the limited credential you approved — including while you are offline.

You acknowledge and agree that:

• an armed ticket is your standing instruction, run mechanically on parameters you set; it is not discretionary management, advice, or a managed account;
• we do not choose your markets, direction, thresholds, or size;
• the analysis and the ticket are your intention, not ours;
• the software cannot alter your instruction — it forwards what you set, or it does not forward; it does not exercise discretion over direction, size, timing, or market;
• conditions may be met in fast or gapping markets at prices materially worse than you anticipated, and may fail to be met or forwarded at all due to outages, connectivity, protocol behaviour, rate limits, or errors;
• there is no guarantee of forwarding, fill, monitoring continuity, or notification, and no obligation on us to intervene in, amend, or close any position;
• you are responsible for disarming any instruction you no longer want live, and for monitoring your own positions on Hyperliquid;
• we may pause, refuse, or cancel armed tickets and pending messages at any time, including for caps, maintenance, kill-switches, or suspected breach of these Terms. Doing so does not close positions already on Hyperliquid, which remain yours to manage through Hyperliquid or another interface.

Activity accepted by Hyperliquid is irreversible. We cannot reverse fills, liquidations, or funding payments. The Site may show you trades and positions the wallet has already made on Hyperliquid; that display does not change who executed them.

How the “cannot alter your instruction” claim is tested — the drills, the deviation test, and what testing does not promise — is described at How the Engines Are Tested.

You acknowledge each of the following:

• Leverage. The Site may display perpetual futures, including pair or relative-value layouts, on crypto and, where listed on Hyperliquid, other underlyings. These contracts are leveraged. You can lose the entire value of any position, and depending on margin mode, more than the collateral you thought you had isolated.
• Liquidation. Liquidation can happen faster than you can react and faster than any armed ticket can fire.
• A pair layout does not reduce risk. A pair is two leveraged perpetual positions. Both legs can lose money at the same time; correlation can break; funding can run against both legs. Viewing two markets as a pair is a way of presenting data and shaping orders. It is not a hedge, not a recommendation, and not a claim that pair trading is safe.
• Protocol risk. Oracle behaviour, funding, liquidity, smart-contract and chain risk sit with Hyperliquid and with you, not with us.
• Analysis is not prediction. Statistics, signals, backtests, tracked performance, and thresholds shown on the Site are historical or model outputs, not predictions and not advice.
• Armed instructions can fail. An armed ticket can fire in fast or gapping markets at prices materially worse than you anticipated, or fail to fire or forward at all. Section 6 sets out these failure modes and remains operative.
• Data can fail. Market data can be delayed, wrong, or missing. Section 12 sets out the warranty position and remains operative.

These disclosures consolidate the risk statements in these Terms. They add to, and do not replace, the operative clauses in Sections 6, 8, 12, and 13.

Hyperliquid charges protocol fees on activity 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. It is a software fee charged by the Site when it builds an order payload from your own parameters. The rate is the per-feature rate shown in the interface before you commit, applied to the size you set — per leg where the construction has two legs. The fee is journaled to your tab at construction time, whether or not the payload is later filled. It is a fee for the computation that builds your order, not a share of your trading outcome.

Rebate when nothing fills. If a constructed order is not filled — cancelled, expired, or failed — the construction fee for it is automatically rebated to your tab in full. If it partly fills, the unfilled fraction is rebated pro-rata. A fee that survived only when you traded would be transaction-based compensation; this is not that.

No rebate when it fills. A construction that fills as you specified earns no rebate. The fee pays for the computation that built the order you asked for; if that order fills on your parameters — your market, your direction, your size, your trigger — the fee is earned. No rebate, credit, or other compensation is due because the trade lost money, because you set a parameter you now regret, or because you forgot to disarm an instruction.

Your tab and the construction credit. Every account opens with a construction credit (currently USD 20). Construction fees debit the tab; rebates and reconciliation credits restore it. The credit is a fee offset only: it is not money, cannot be withdrawn or transferred, has no cash value, and expires with your account. You are never asked to prepay, and the Site does not hold your funds. If your tab is exhausted, the Site refuses further constructions until it is settled.

Collection. Accrued construction fees are collected through the Hyperliquid builder fee, at the per-feature rates shown in the interface, inside the maximum you approved with your own wallet signature (currently 0.04%) and never above it. A collected builder fee is the collection of the construction fee for that same construction — one fee, accrued once at construction, collected once, never twice. The reconciliation ledger on your account page shows accrued against collected per construction, and any over-collection is credited back to your tab. We may reduce the builder rate as other collection mechanisms mature. You can revoke the builder-fee approval at any time.

No success fees, no hidden charges. We do not charge a fee conditioned on whether a trade was profitable, on fill price, or on trading volume. We do not control Hyperliquid’s own fee schedule. Gas or bridging costs, if any, are extra and paid to the network, not to us.

The Site applies caps — including per-position, aggregate, and count limits — and may include kill-switches that pause message forwarding. These are operational risk controls for the Site. They are not investor protection, insurance, segregation, or a guarantee of any kind, and we may change or remove them at any time.

You will not use the Site to:

• evade sanctions or launder money;
• access the Site from, or on behalf of anyone in, a Restricted Jurisdiction, including via VPN or proxy;
• manipulate markets or violate Hyperliquid’s own terms;
• attack, probe, overload, or interfere with the Site or the protocol;
• scrape in a way that degrades the service;
• resell, wrap, or rebrand the Site as if you were the operator or a licensed firm;
• misrepresent your identity, location, or authority.

We and our licensors own the Site’s software, design, and content, excluding data originating from Hyperliquid and other public sources.

We grant you a limited, personal, non-exclusive, non-transferable, non-sublicensable, revocable licence to use the Site for your own personal use: to access the Site, view the data it presents, and construct or arm instructions that reflect your own intention. The licence is conditioned on your compliance with these Terms, including Section 3 (Restricted Jurisdictions) and Section 10 (Prohibited use). It ends automatically if you breach these Terms or when your access is terminated, and we may revoke it at any time.

You must not copy the Site’s software or content, create derivative works from them, or reverse engineer, decompile, or disassemble the Site, except to the extent applicable law does not allow that restriction. Section 10 separately prohibits reselling, wrapping, or rebranding the Site and scraping that degrades the service.

The Site’s software is licensed, not sold. The construction fee described in Section 8 is a fee for the use of that software — the computation that builds your order — not a share of your trading outcome. The licence is a licence to use software: nothing in this Section means we execute, advise, or manage anything for you, and it grants you nothing beyond the use described in these Terms.

The Site is provided “as is” and “as available.” We do not warrant uptime, data accuracy or timeliness, oracle quality, that a pair layout will behave the way you expect, that an armed ticket will fire or be forwarded, or that the Site is error-free. Data can be delayed, wrong, or missing.

The Site may link to or display materials, interfaces, and services operated by third parties, including Hyperliquid’s own. We do not control or endorse them and are not responsible for their content, availability, or conduct. Any fees or costs a third party charges you are yours to pay.

To the maximum extent permitted by law, we are not liable for lost profits, lost positions, liquidation, slippage, missed or mistimed conditions, display errors, downtime, third-party protocol failure, revoked or expired approvals, or access to or use of your wallet, session, or limited credential by someone else — whether or not you authorised that access.

Our aggregate liability for all claims relating to the Site is capped at the greater of USD 100 or the construction fees you paid us in the three months before the event giving rise to the claim.

Nothing in these Terms excludes or limits liability for fraud, or any other liability that cannot be excluded or limited under applicable law.

You will indemnify, defend, and hold harmless us and our officers, directors, employees, contractors, agents, affiliates, successors, and assigns against all claims, demands, actions, investigations, liabilities, damages, losses, costs, and expenses, including reasonable attorneys’ fees (“Losses”), arising out of or relating to:

• (a) your use of, or inability to use, the Site, including your armed tickets and any approval or instruction signed by your wallet;
• (b) your breach of these Terms, including any representation you make in them;
• (c) your violation of any law, regulation, or sanctions programme, including your use of the Site from a Restricted Jurisdiction;
• (d) your infringement or violation of any third party’s rights, including intellectual property, confidentiality, and privacy rights; or
• (e) your gross negligence or wilful misconduct.

You will pay Losses promptly on our written notice and will cooperate with us in the defence of any claim. We may assume the exclusive defence and control of any matter otherwise subject to indemnification by you, at our own expense; if we do, you will cooperate with us in asserting any available defences. This Section does not require you to indemnify us for Losses caused by our fraud or by any liability that cannot be excluded or limited under applicable law.

You alone are responsible for determining, reporting, and paying any taxes that arise from your use of the Site and your activity on Hyperliquid. We do not provide tax advice, and nothing on the Site is tax advice. For clarity: the construction credit is a fee offset, not money or income paid to you, and a rebate is the reversal of a fee, not a payment. Our fees are exclusive of any tax you may owe.

We store your public wallet address, session records, the watches and armed tickets you save, and — if you enable protocol submission — the encrypted limited credential described in Section 5. We log your acceptance of these Terms (timestamp, wallet address, terms version, IP address). We never store your wallet keys.

We may change the Site or these Terms at any time. The current version and its date are shown at the top; continued use after a change is acceptance. We may suspend or shut down the Site at any time. That does not affect positions already on Hyperliquid — you can manage them through Hyperliquid’s own interface or another frontend. Sections 3, 10, 11, and 13–18 survive termination.

These Terms are governed by the laws of England and Wales, without regard to conflict-of-law rules. The courts of England and Wales have exclusive jurisdiction, except that we may seek injunctive relief in any court of competent jurisdiction. This choice of law does not displace mandatory laws of the place where you are.

If a court finds any clause unenforceable, the rest remains in force. If we do not enforce a clause or a right on one occasion — including permitting access we could have refused under Section 3 — that is not a waiver of the clause, the right, or our ability to enforce either later. A waiver is effective only if we give it in writing.

Questions about the Site or these Terms: support@pairpetuals.com. Support is best-effort. A message to this address is not a legal notice, an instruction to trade, or a way to disarm a ticket — disarm through the Site and revoke approvals through the Site’s Revoke key control or Hyperliquid.