> For the complete documentation index, see [llms.txt](https://spread-hunter.gitbook.io/spread-hunter-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://spread-hunter.gitbook.io/spread-hunter-docs/english/risk.md). # Risk Disclosure **Version:** 1 · **Effective from:** June 17, 2026 The use of automated trading through **Spread Hunter** involves significant risk. Read this Disclosure carefully. The terms ("Service", "Bot", "Operator") are used with the meaning defined in the [User Agreement](/spread-hunter-docs/english/terms.md). By using the Bot, you confirm that you **understand and accept** the risks described here. This Disclosure supplements the Agreement and **is not financial advice**. We may require a separate active acknowledgement of this Disclosure before the first activation of the Bot, and re-acknowledgement after a material update. **In the event of a conflict between this Disclosure and the User Agreement, the Agreement prevails.** *** ## 1. Risk of total loss Trading cryptocurrencies and their derivatives is high-risk. Prices are extremely volatile. **You may lose part or all of the funds involved, and under certain conditions of margin trading — even more than you initially contributed** (for example, a negative balance/debt to the exchange if the market jumped past the liquidation price). Do not trade with funds whose loss you cannot afford. ## 2. No profit guarantees Spread Hunter is a **tool**, not a promise of income. We **do not guarantee** profitability. **Any numerical performance figures, spread statistics, historical profits, or example results** on the site, in marketing, or in the interface (in particular, spread-reduction figures such as "−51%", labels such as "top solution") are **illustrative, obtained under specific conditions and in the past, do not account for your fees/slippage/funding, and are NOT a promise or forecast of your future results**. Examples or backtests are not an indicator of future performance. ## 3. Strategy risk (cross-exchange spread) The long+short strategy across exchanges has its own risks: the spread may not collapse as expected; price divergence between exchanges. **"Naked" leg risk.** One leg may execute while the other does not, or the legs may become desynchronized in size/time. **In such a state, the position ceases to be a neutral hedge and behaves like an ordinary directional margin position: it is directly exposed to price movement, may accumulate unlimited loss, and may be liquidated before it is re-balanced — either manually or automatically.** Closing or re-balancing one leg may also temporarily leave you with a naked opposite leg. The Service **does not guarantee** simultaneous, full, or symmetrical execution of both legs. **Basis risk.** Even with a fully open hedge, a temporary divergence of price/basis between exchanges may produce a **negative overall result** and bring one of the legs closer to liquidation before the spread collapses. In an unfavorable scenario, this may lead to a **total loss of the funds involved, and on margin — even more**. You acknowledge that you understand the mechanics and accept the risks of this strategy. ## 4. Trade execution and slippage Actual execution prices may **differ** from those expected due to market movement, a thin order book, and delays. Orders may execute partially, not execute at all, or execute at a worse price. The Service does not guarantee execution at the desired price. ## 5. Leverage, margin, liquidation, and funding **Leverage** amplifies both profit and loss many times over. The higher the leverage **you choose**, the smaller the adverse price movement needed for a **margin call and forced liquidation**, and the faster a total loss of margin becomes possible. You choose the level of leverage; the Service neither imposes nor limits it for you. In margin trading, margin calls and **forced liquidation without notice** are possible; derivatives may lead to losses that **exceed your initial investment**. **Funding** is charged periodically by the exchange on positions held at the time of settlement. **The total funding across both legs may be negative and exceed all profit from the spread**, even if the hedge worked as planned. ## 6. Dependence on third parties and availability The Bot's operation depends on **exchanges, their APIs, blockchain networks, and RPC nodes**, which are **beyond our control**. Failures, delays, maintenance, rule changes, delisting, or a trading halt on an exchange may prevent the opening/closing of positions and lead to losses. Exchanges may **restrict or prohibit automated (bot) trading**, block accounts, or make the service unavailable in your jurisdiction — this too may prevent the opening or closing of a position. ## 7. Technical and operational risks Software may contain bugs or suffer failures. Server outages, network problems, data delays, and incorrect user settings are possible. Data on spreads/prices/funding is taken from third-party sources and may be inaccurate or untimely. The Service is provided **"as is"**. ## 8. Extreme market conditions and risk mechanisms During high volatility or "black swan" events, the behavior of the market and exchanges may be unpredictable; trades may execute at significantly worse prices; price gaps, trading halts, and the loss of a stablecoin's peg (de-peg) are possible. **Stop-loss and automatic closing do not guarantee an exit price and are not a guarantee of limiting loss**: they execute at the available market price, which during volatility may be substantially worse; they may either fail to trigger or lock in a loss greater than expected. ## 9. API key security Although we store keys encrypted and recommend **trade-only** keys **without withdrawal rights**, adding any keys carries a residual risk. Despite encryption, **no storage is absolutely secure**. The compromise of even a trade-only key allows positions to be opened with your funds. You are responsible for the correct configuration of permissions and may revoke a key at any time. ## 10. Access, subscription, and continuity of management Automated management of positions depends on an **active Subscription and access to the account**. Expiry/non-payment of the Subscription or loss of access may lead to the **automatic closing of positions at an unfavorable moment** (after the Grace period) or, conversely, to the Bot **ceasing to manage** positions, leaving them open. The Operator is not liable for the outcome of such events. ## 11. Regulatory and tax risks The legal status of crypto-assets and automated trading varies between jurisdictions and may change. You are solely responsible for the **legality** of your use of the Service and for **declaring and paying taxes** (in particular, on referral rewards). The Service/exchanges may become unavailable in your jurisdiction. ## 12. Conflict of interest (referrals) Participants in the referral program may have a **financial incentive** to refer you. Their statements are neither advice nor the position of the Operator; the referral reward is not a guarantee that the Service will be profitable for you. ## 13. Your responsibility You make all decisions and trades **yourself and at your own risk**. We advise you to test first with small capital until you fully understand the Bot's behavior. **The Operator and the project owners are not liable for your trading losses** — the disclaimer of warranties, the limitation of liability, the liability cap, and the indemnity in sections 12–13 of the [User Agreement](/spread-hunter-docs/english/terms.md) apply, in full force and to the risks described in this Disclosure. *** > If you are not prepared to accept these risks — **do not use the automated trading features**. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://spread-hunter.gitbook.io/spread-hunter-docs/english/risk.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.