Risk disclosure

Read this before you add funds, mimic or copy. Every money screen in the app links here. This disclosure is part of DarkTrade's terms of use: https://darktrade.ai/legal/v5/terms

You can lose money, including all the money you put in. Only trade money you can afford to lose.

1. Leverage and liquidation

• Mimic and Copy trade perpetual futures with leverage. Leverage makes gains and losses larger by the same multiple. At 10x, a 1% price move against you costs 10% of the money in that position.
• Each position has its own margin (isolated margin). If the price moves far enough against you, Hyperliquid liquidates the position: it closes it, and you lose most or all of that position's margin. The higher the leverage, the smaller the move that does it. The sheet shows the liquidation price under the leverage.
• Perpetual futures also pay or charge funding while a position is open. It can add to your costs.
• In extreme markets, Hyperliquid can close positions by its own rules, profitable ones included. If a trader's losses go beyond the margin behind them, Hyperliquid can close positions on the other side to cover the gap (auto-deleveraging). It ranks those positions by profit and leverage, and closes them at the previous mark price. A profitable position of yours can be closed this way.

2. Stops can slip

• Every position DarkTrade opens carries a stop order on Hyperliquid. A stop limits a loss. It does not fix the price you get.
• When the price reaches your stop, Hyperliquid sends a market order. It fills at the prices available at that moment. In a fast market, after a price gap, or when few people are trading, that can be well past your stop.
• Hyperliquid gives the order behind each stop a slippage limit of 10%. If the price has moved further than that limit allows, the stop can fill only in part, or not at all. The rest of the position then stays open, and it may have no stop order left on Hyperliquid. A stop can also fail to fill while Hyperliquid is down.
• A price can jump past both your stop and your liquidation price at once.

3. Copying always lags

• We see a whale's trade only after it happens on-chain. Our order goes out after that. By then the price has usually moved.
• Mimic at Market enters at the price when you confirm, not at the whale's entry. If the whale is already up on a position, you start from today's price.
• A Limit Mimic, where the app offers it, waits at the price you set. It may never fill. It is cancelled when the whale closes, when you cancel it, when you disconnect, or at its expiry: 24 hours, or an hour before your trading key expires if that comes sooner. If our system is late to cancel it, it can still fill after that, at your price. If it fills at or after the whale's close, we close it at once, and you pay the fees on both trades. If you disconnect and we cannot cancel it in time, it stays open on Hyperliquid until you cancel it there.
• An order can fill only in part, or be missed when the price moves past our limit.
• An entry can be skipped: the size is too small, a limit in the app would be exceeded, the coin is not allowed, for a mimic, you already hold a position in that coin through DarkTrade, the whale has paused or left the board, your trading key has expired, or our system is paused.
• Closes follow the whale's close with the same delay, so you exit at a different price.
• Your size, leverage and stop differ from the whale's. The whale may also hold trades elsewhere that we cannot see. We see only its Hyperliquid account.
• Your results will differ from the whale's.

4. A whale's history does not predict your results

• Whales are real accounts that our engine selects from public data. Their numbers are their own records, measured over stated periods.
• Past trades are not a forecast. A whale can change how it trades, take more risk, stop trading, or leave the board.
• A good record can come from luck. Our selection can be wrong.
• A whale's colour measures its past drawdown. It is not a safety rating.
• Fees and funding reduce what you keep. On small positions, fees are a bigger share.

5. Your wallet and your login

• Account access is wallet access. Anyone who can sign in to your DarkTrade account (your email, Google or Telegram) can use your wallet.
• Privy runs your wallet. Its key is split into key shares and is never stored whole. DarkTrade holds no key share. You rely on Privy's security and on Privy being available. If Privy is down, you may not be able to sign in or sign for a while.
• Your wallet trusts the darktrade.ai website. If a harmful script ever ran on darktrade.ai, it could ask your wallet to sign something without showing Privy's window. We work to prevent this, but we cannot rule it out. If you add an authenticator, Privy asks for your passkey or app code before your wallet signs. After you use one, Privy does not ask again for 15 minutes.
• If you export your wallet's key, anyone who sees it controls your wallet.
• We cannot restore a lost login, and we cannot reverse a signed transaction.

6. Smart contracts and bridges

Your money moves through contracts and bridges that other companies run. A bug, an attack, a pause or an upgrade in any of them can delay your money, or lose it.

• Deposits use Circle's transfer route (CCTP): a contract on Arbitrum One, Circle's attestation service, and a forwarding contract on Hyperliquid's chain (HyperEVM). Circle can upgrade or pause these contracts. A transfer sent with wrong details could be lost for good, so your app, our server and our relayer each check the destination and the fee before anything is sent.
• Withdrawals are sent by Hyperliquid, which chooses the route to Arbitrum One: its own bridge (Bridge2), which Hyperliquid's validators run, or Circle's route. A bridge failure can delay a withdrawal or lose it.
• USDC is issued by Circle. Circle can freeze USDC at an address.
• Hyperliquid runs its own chain. Its validators, its price feeds, its outages and its rule changes all affect your positions and your money.
• Arbitrum One can have outages that delay deposits and withdrawals.

7. The deposit relayer

• When USDC arrives in your wallet, your wallet signs a move of it to your own Hyperliquid account. Our relayer sends that signed move and pays the network fee (gas).
• The relayer never holds your funds. It holds only its own ETH, for gas. The signed move fixes where the money goes (your Hyperliquid account) and the fee, so the relayer cannot change either.
• The relayer can be slow, paused or stopped: for example when it runs low on gas, when a limit is reached, when Circle's contracts change or pause, or for maintenance. Then your USDC waits in your own wallet until it runs again. Recover and exporting your key still work. If you have no ETH for gas, you may have to add a little.
• If an address that sent USDC to your wallet is flagged by sanctions screening, no USDC in your wallet is moved to Hyperliquid, whoever sent it, until we lift the hold. We lift it only on legal advice. While the hold lasts, Recover may not offer that USDC. The terms, section 3, say more: https://darktrade.ai/legal/v5/terms

8. Where your money sits

• Your Hyperliquid account holds the money you trade. It belongs to your wallet's address.
• Your own DarkTrade wallet on Arbitrum One holds USDC that has arrived but not yet moved, and anything you withdraw back to it.
• An exchange account you connect holds the money you trade there (section 8A).
• DarkTrade never holds your trading money. The only money it holds is a fee balance, if you add one to pay its fee on exchange trades.
• Your money is not a bank deposit. It is not insured, and no deposit protection scheme covers it.

8A. Exchange accounts

This applies only if you connect an exchange account.

• The exchange holds your money there, under its own rules. It can freeze, restrict or close your account, change its rules, stop offering futures where you are, or fail. We cannot get your money back from it.
• Its terms. Some exchanges' terms say an API key should not be shared, or that their services should not be provided through your account to anyone else. Connecting your key to DarkTrade may break those terms, and the exchange may restrict your account for it.
• Outages. If the exchange is down, blocks our IP address or stops accepting your key, or our own system is paused, we cannot see or close your positions there for a while. Closing with the whale and new entries stop until it works again. Stop orders already placed stay on the exchange, unless the exchange removes them. On some exchanges, deleting the key may remove them.
• Your own trades. We never open a trade on a coin where you hold your own position or orders. If you trade a coin yourself while we hold a trade on it, the exchange may combine the two into one position, and it may cancel your order when our stop or close runs.
• Leverage, margin and liquidation follow the exchange's own rules and limits, which can differ from Hyperliquid's.
• Your key. A key that can trade can lose money if it is misused. We accept only a key that cannot withdraw or transfer funds and works only from our IP address. If you think it leaked, delete it on the exchange.
• The fee balance. While it is too low, no new exchange trades are placed for you. Stops and closes still run, so it can go below zero.

9. Transfers are final

• Only USDC on Arbitrum One can be added. The minimum is 10 USDC.
• Money sent on another network, or in another token, may be recoverable only in part, or not at all.
• Money sent to a wrong withdrawal address is lost.
• Exchanges can delay their own withdrawals to your wallet.

10. Our own systems

• DarkTrade's software can fail, slow down or be paused. We may pause trading for safety. While trading is paused, open positions keep their stop orders on Hyperliquid, but closing with the whale, take-profit handling and new entries stop.
• The trading key expires after 90 days, with the same effect until you renew it.
• DarkTrade is in an early release, so errors are more likely than in a mature product.

11. Rules and taxes

• Laws on crypto and on copy trading can change. DarkTrade, or parts of it, may stop being available where you are.
• Taxes on your trading are your responsibility.

12. Not financial advice

Nothing in DarkTrade is a recommendation to buy or sell. Whale data is public on-chain. The decisions are yours.