Terms of Service

Welcome to Perpex. This document is a contract between you and Celebit Ltd. It explains what you can expect from us, what we expect from you, and the legal framework around your use of the Perpex web app, mobile app, and any related tools we publish.

You enter into this contract the moment you install the app, connect a wallet, browse the dashboard, or otherwise interact with anything we publish under the Perpex name. If anything below is not acceptable to you, please do not use Perpex.

Words like "we", "us" and "our" refer to Celebit Ltd. "You" refers to the person using Perpex. "The platform", "the App" or "Perpex" refers collectively to our website, mobile applications, APIs, and any feature delivered through them.

Perpex is a product built and operated by Celebit Ltd, a company registered in England and Wales. Our registered office is at Unit 501, Leroy House, 434–436 Essex Road, London, England, N1 3FY. You can always reach us at hello@perpex.co.

Celebit Ltd is the entity responsible for the Perpex brand, the publication of the apps, and the legal obligations described in this document. The Perpex name and logo are property of Celebit Ltd.

Perpex is a self-custodial trading interface that helps you interact with the Hyperliquid decentralized exchange. Through Perpex you can view market data, place orders, run automated strategies (such as copy trading, grid bots, and algorithmic bots), and review your portfolio. Every trade you place is signed by your own wallet and broadcast to the Hyperliquid protocol — Perpex is the dashboard, not the exchange.

To set expectations clearly, Perpex is not:

• a custodian, exchange, broker, dealer, or money services business;
• an issuer of digital assets, tokens, or stablecoins;
• a wallet provider — we never see, store, or transmit your seed phrase or private keys;
• a source of investment, legal, accounting, or tax advice;
• a counterparty to your trades — your counterparty is the Hyperliquid protocol and the wider market.

Where Perpex displays balances, positions, prices, or PnL figures, those values are read from the Hyperliquid network and third-party data feeds. Celebit Ltd does not hold, control, or guarantee any of the underlying assets or values.

Perpex is intended for users who are sophisticated enough to understand perpetual futures and the risks of decentralized trading. By accessing the platform you confirm that you meet all of the following:

• you are at least 18 years old, or the age of legal adulthood in the jurisdiction where you live, whichever is higher;
• you have the legal capacity to enter into this agreement and to trade leveraged crypto products under the laws that apply to you;
• you are not located in, ordinarily resident in, or accessing Perpex from a jurisdiction where such use would be unlawful under the laws applicable to you, including jurisdictions subject to comprehensive OFAC, UK HMT, EU, or UN sanctions (such as North Korea, Iran, Syria, Cuba, and the regions of Crimea, Donetsk, Luhansk, Kherson, and Zaporizhzhia);
• you are not, and you do not act on behalf of, any person or entity listed on a sanctions or restricted-parties list (including OFAC SDN, UK HMT, EU consolidated, and UN sanctions lists);
• you are not using Perpex to evade tax obligations, money laundering controls, or financial sanctions in any country.

Determining whether your use of Perpex is lawful is your responsibility, not ours. If your circumstances change and you can no longer make these confirmations, you must stop using Perpex.

Perpex is fully self-custodial. To use the platform you connect an external wallet — for example through Privy, WalletConnect, or another supported provider — and you remain in sole control of that wallet at all times.

For convenience, Perpex supports the Hyperliquid agent wallet mechanism, which lets you authorize a separate session key to sign trades without exposing your main wallet for every interaction. The agent wallet is generated on your device, can only operate within the limits set by the Hyperliquid protocol, and can be revoked by you at any time. Celebit Ltd never has access to the agent wallet's private key.

Because Perpex is self-custodial, the entire responsibility for the safety of your funds and credentials sits with you. In particular, you agree that:

• you will keep your seed phrase, private keys, recovery codes, and device passcodes secure and offline where possible;
• you will verify every transaction prompt — including amounts, leverage, and approvals — before signing;
• you will not share signing credentials with anyone, including anyone claiming to represent Perpex support;
• you understand that on-chain transactions are final — they cannot be reversed, refunded, or rolled back by us or by anyone else.

If you lose access to your wallet, your funds, or your agent key, Celebit Ltd cannot recover them for you. We have no technical mechanism to do so.

Perpex offers features that automate trading on your behalf, including copy trading, grid bots, algorithmic bots, conditional orders, and strategy subscriptions. These features are powerful but they amplify the risks described elsewhere in this agreement. By turning any of them on, you accept that:

• orders will be placed by software without further confirmation from you, until you stop the strategy;
• leaderboards, trader profiles, win-rates, PnL charts, and historical statistics shown in Perpex are derived from public on-chain activity and are never a guarantee of future performance;
• traders you copy may take risks that do not match your tolerance, may stop trading without warning, or may lose money;
• grid and algo strategies behave according to parameters you choose — extreme volatility, low liquidity, or unexpected market events can cause large losses, partial fills, or unintended position sizes;
• execution depends on the Hyperliquid network, third-party RPC providers, and the availability of our backend services — delays or outages can cause missed trades, slippage, or stale stop-loss/take-profit triggers;
• you remain solely responsible for monitoring your account, your margin, and any open positions opened by automated strategies running on your behalf.

Celebit Ltd does not endorse, recommend, or vet any individual trader, strategy, or bot. You choose what to copy and what risk to take.

When you trade through Perpex, the trade flows through Hyperliquid's on-chain order book, which charges its own protocol fees. Perpex is registered as a Hyperliquid "builder", which means the Hyperliquid protocol may apply a small builder fee at the protocol level on trades you sign through the Perpex interface. This fee is handled entirely by the Hyperliquid protocol — Celebit Ltd does not invoice, charge, or collect fees directly from you. The applicable builder fee rate and builder address are disclosed in-app and may change from time to time. By placing a trade through Perpex you authorize the application of that protocol-level fee.

Perpex itself does not charge subscription fees for the basic trading interface, but we reserve the right to introduce paid features, premium tiers, or fee changes in the future. Where new fees apply, we will surface them clearly in the app before you opt in.

All fees are denominated and settled on-chain in the assets supported by Hyperliquid. Celebit Ltd does not handle fiat payments and does not invoice you directly.

Everything you see inside Perpex — charts, market data, funding rates, leaderboards, analytics, news, notifications, and educational content — is provided strictly for informational purposes. Nothing on the platform is intended to be, and nothing should be relied upon as, financial advice, an investment recommendation, a solicitation to buy or sell any asset, or a personal recommendation of any kind.

Trading decisions are yours alone. Before you place a trade, copy a strategy, or deploy a bot, you should do your own research and, if appropriate, consult a regulated professional in your jurisdiction. Celebit Ltd cannot be held responsible for any decision you make based on what you see in Perpex.

Perpetual futures and other leveraged crypto products are high-risk instruments. By trading through Perpex you confirm that you understand and accept the following risks:

• Total loss. You can lose some or all of the funds you commit to a position, and in some scenarios more than your initial margin.
• Liquidation. Hyperliquid's risk engine will close positions automatically when maintenance margin is breached. This can happen instantly, without warning, in fast markets.
• Volatility. Crypto prices can move many percent in seconds, including outside normal trading hours, and can gap through stop-loss prices.
• Slippage and partial fills. Order book depth changes constantly. The price you receive may differ from the price you saw, especially with market orders.
• Funding rates. Holding leveraged positions exposes you to recurring funding payments that can erode PnL over time.
• Network congestion. Blockchains can become slow or unresponsive. Trades, withdrawals, or cancellations may be delayed.
• Stale data. Prices, balances, and PnL displayed in the app are best-effort snapshots and may briefly diverge from on-chain reality.

A separate Risk Disclosure document goes into more detail. You should read it before trading.

Perpex relies on third-party infrastructure that we do not control. This includes the Hyperliquid protocol, the Arbitrum and other supported chains, RPC and WebSocket providers, wallet providers, oracle services, push notification gateways, and analytics infrastructure. We integrate with these services in good faith, but we make no warranty about their behavior, security, or availability.

You understand and agree that all cryptocurrency transactions initiated through Perpex are executed directly by the Hyperliquid protocol on its public blockchain, and Celebit Ltd does not itself exchange virtual currencies, facilitate trading, match orders, or hold custody of user assets. Perpex provides a non-custodial software interface; the underlying exchange functionality, order matching, liquidation engine, and settlement are performed by the Hyperliquid protocol and are entirely outside Celebit Ltd's control.

Smart contracts, even when audited, may contain bugs, exploits, or unintended behaviour. Protocol upgrades, hard forks, governance decisions, validator failures, and oracle malfunctions can all affect your positions and assets. Celebit Ltd is not responsible for losses caused by any third-party network, protocol, contract, or service that Perpex connects to.

We work hard to keep Perpex online and responsive, but we cannot promise uninterrupted service. The platform may be temporarily unavailable due to scheduled maintenance, deployments, infrastructure incidents, third-party outages, force-majeure events, or our decision to disable a feature for safety reasons.

Celebit Ltd may add, remove, or change features of Perpex at any time, with or without notice, and may restrict access from particular regions or for particular wallets where we believe it is necessary. We have no obligation to keep historical features, layouts, or data visible indefinitely.

You agree to use Perpex only for lawful purposes and in line with the spirit of fair markets. Without limiting that, you must not:

• break any law or regulation applicable to you;
• engage in market abuse — including wash trading, spoofing, layering, painting the tape, front-running, or coordinated manipulation;
• use Perpex to launder funds, finance terrorism, evade sanctions, or hide the proceeds of crime;
• scrape, mirror, frame, or otherwise extract our content at scale without written permission;
• attempt to probe, scan, or stress-test the security of Perpex (including DDoS attacks, fuzzing of public endpoints, or automated brute force);
• reverse-engineer, decompile, or disassemble the Perpex apps except where the law allows you to do so;
• access another user's wallet, account, or data, or impersonate another user;
• upload, post, or transmit any content that is illegal, hateful, defamatory, or infringes someone else's rights;
• introduce malware, harmful code, or any software designed to damage or interfere with Perpex.

If we believe in good faith that your use of Perpex breaches any of the above, we may pause or revoke your access immediately, without prior notice and without liability to you.

Perpex, the Perpex name and logo, the Celebit name, the user interface, the design system, the look and feel, the underlying source code, marketing materials, documentation, and any original content we publish are owned by Celebit Ltd or licensed to us. They are protected by copyright, trade mark, and other intellectual property laws.

We grant you a personal, non-exclusive, non-transferable, revocable license to use the Perpex apps for the purposes described in these Terms. This license does not give you any ownership rights and ends automatically if you breach this agreement. You must not use the Perpex name or branding to suggest a partnership, endorsement, or affiliation with Celebit Ltd unless we have agreed to it in writing.

Perpex is provided on an "as is" and "as available" basis, with all faults and without warranty of any kind. To the maximum extent permitted by law, Celebit Ltd disclaims all warranties, express or implied, including warranties of merchantability, satisfactory quality, fitness for a particular purpose, non-infringement, accuracy of market or statistical data, security, and uninterrupted operation.

We do not warrant that Perpex will meet your requirements, that defects will be corrected, or that the platform will always reflect the latest state of the Hyperliquid network. Any reliance you place on Perpex is at your own risk.

To the fullest extent the law allows, Celebit Ltd, its directors, officers, employees, contractors, suppliers, and affiliates will not be liable to you for:

• any indirect, incidental, special, consequential, exemplary, or punitive damages;
• any loss of profits, revenue, opportunity, business, goodwill, anticipated savings, or trading gains, whether the loss is direct or indirect;
• any loss caused by market volatility, liquidations, slippage, network congestion, smart-contract failure, oracle malfunction, hacks, exploits, forks, or actions of third parties;
• any loss of funds, access, or data caused by lost keys, lost recovery phrases, stolen devices, phishing, malware, or your own user error;
• any loss caused by third-party services that Perpex connects to but does not control.

Where the law does not permit a complete exclusion, Celebit Ltd's aggregate liability arising out of or relating to Perpex (whether in contract, tort, statute, or otherwise) is capped at the greater of (i) the total amount you have paid Celebit Ltd directly in the twelve months preceding the claim, or (ii) one hundred British Pounds (GBP 100). Nothing in this section limits any liability that cannot be excluded by law (such as liability for fraud or for death or personal injury caused by negligence).

You agree to defend, indemnify, and hold harmless Celebit Ltd and everyone working with it from any claim, demand, loss, damage, cost, or expense (including reasonable legal fees) that arises out of or relates to:

• your use of Perpex or anything you do through it;
• your breach of these Terms or of any law or regulation;
• your interaction with the Hyperliquid protocol or any other third-party service through Perpex;
• any content you submit, share, or transmit through the platform;
• any dispute between you and another user, trader, or counterparty.

We reserve the right to take over the defense of any matter for which you owe us indemnification, at your expense. You agree not to settle any such matter without our prior written consent.

You may stop using Perpex whenever you like — close any open positions, revoke your agent wallet inside the app, disconnect your wallet, and uninstall the apps. Because Perpex is non-custodial, ending your relationship with us does not affect ownership of any on-chain assets. They remain yours.

Celebit Ltd may suspend, restrict, or terminate your access to Perpex at any time, including if we believe it is necessary to comply with the law, to protect users, to protect the platform, or to address a breach of these Terms. We will try to give notice where it is reasonable to do so, but we are not obliged to.

Sections of these Terms that should naturally survive termination — including the disclaimers, limitation of liability, indemnification, intellectual property, and governing law clauses — continue to apply after this agreement ends.

The crypto industry, the regulatory landscape, and Perpex itself all move quickly. We may revise these Terms from time to time to keep them accurate and to reflect new features, new risks, or new legal requirements.

The most up-to-date version is always published at https://perpex.co/terms, and the "Effective" date at the top of the page tells you when the current version took effect. For material changes, we will try to notify you in-app, by email, or via a banner before the changes take effect. By continuing to use Perpex after a new version is published, you confirm that you accept it. If you do not accept a change, you should stop using Perpex.

These Terms, and any non-contractual obligations arising from them, are governed by the laws of England and Wales, without regard to conflict-of-laws rules.

Any dispute, claim, or controversy arising out of or relating to your use of Perpex will be subject to the exclusive jurisdiction of the courts of England and Wales, except where mandatory consumer protection rules in your home country require otherwise. Before starting any legal proceedings, we encourage you to contact us at hello@perpex.co so we can try to resolve the matter amicably.

You may not use, export, re-export, or transfer the Perpex apps or related services except as authorized by applicable laws, including the export control laws of the United Kingdom, the European Union, and the United States. In particular, the Services may not be accessed or used (a) from any country or region subject to comprehensive sanctions administered by OFAC, HM Treasury, the European Union, or the United Nations, or (b) by anyone on the U.S. Treasury Department's list of Specially Designated Nationals, the U.S. Department of Commerce's Denied Persons List or Entity List, the UK HMT Consolidated List, or any equivalent restricted-parties list.

By using Perpex, you represent and warrant that you are not located in a restricted jurisdiction, that you are not a restricted person, and that you will not use Perpex for any purpose prohibited by applicable export control laws — including, without limitation, the development, design, manufacture, or production of missiles, nuclear, chemical, or biological weapons.

Questions, concerns, legal notices, or just want to say hi? Reach out — we read everything that lands in our inbox.

Perpex is a product of Celebit Ltd, registered in England and Wales.