risk disclosure

Leverage multiplies both gains and losses. At 20x, a 5% move against your position wipes out the margin backing it. Position sizes that look small relative to your wallet can still liquidate an entire account.

Liquidation is automatic and can happen at any hour. In fast markets, the executed liquidation price can be materially worse than the estimate shown when you opened the position, and you may lose more margin than the estimate implied.

Holding a position through many funding intervals can cost more than the price move you are trying to capture. Funding rates change with market conditions and are not capped by any promise from Perply.

Margin and liquidation depend on oracle prices. Oracle outages, delays or manipulated inputs can cause incorrect liquidations or block trading. Perply pauses order placement on stale prices, but a pause is itself a risk: you may be unable to exit.

Collateral is held by smart contracts. Bugs, upgrade errors or economic exploits can cause partial or total loss of funds. An audit reduces but never removes this risk, and any audit reference is published on the status page.

You are solely responsible for your wallet, keys and signatures. Transactions are irreversible. Perply cannot recover funds, reverse a trade or restore access to a lost wallet.

Nothing on Perply is investment, legal or tax advice. Access may be restricted in some jurisdictions and it is your responsibility to determine whether you are permitted to use the protocol.