Risk disclosure

You can lose everything you deposit

Perpetual contracts are leveraged derivatives. A position can be liquidated when the market moves against it by a fraction of the distance that would matter without leverage. At high leverage, a small adverse move is enough to lose the entire margin behind the position. Losing your whole deposit is a normal outcome in this market, not an unlucky edge case.

Leverage risk

Leverage multiplies both directions. It does not improve your odds, your information, or your timing — it only increases the consequence of being wrong and shortens the time you have to be right. Traders who survive generally use far less leverage than is available to them.

Volatility and gap risk

Crypto markets move violently, at any hour, including through the price at which you intended to exit. A stop order is an instruction, not a guarantee of execution price. Thin liquidity makes this worse.

Funding and holding costs

Perpetual positions incur periodic funding payments that can run against you for as long as you hold. A directionally correct position can still lose money to funding and fees.

Fee risk

Trading through an interface layered on an exchange means paying more than one party. Frequent trading compounds fee cost quickly, and fee cashback on losing trades reduces cost — it never converts a loss into a gain.

Copy-trading risk

Copying a trader reproduces their losses as faithfully as their gains, and Legend documents copy trading as alpha software. Past performance is not predictive. Stopping a copy can close mirrored positions at market prices, and proportional sizing means your results will diverge from the trader you follow.

Platform and technology risk

Interfaces can go down, APIs can lag, smart contracts can contain bugs, and alpha features can behave unexpectedly — all while a leveraged position is open. Neither this site nor you control that infrastructure.

Counterparty and custody risk

Funds committed to any trading platform depend on that platform and its underlying infrastructure behaving as documented. Read Legend's and Hyperliquid's own terms for how custody and settlement work before depositing.

Behavioural risk

Leaderboards, timed matches, public feeds, and visible rankings encourage larger and faster decisions. Loss-chasing, revenge trading, and sizing up to win a competition destroy more accounts than any technical factor. If a feature makes you trade differently, that is a risk, not entertainment.

Security risk

Phishing clones, malicious approvals, and fake support accounts are common. No legitimate platform ever asks for your seed phrase. See our safety page.

Regulatory, tax and regional risk

Availability, legality, and tax treatment of crypto derivatives differ by jurisdiction and change over time. It is your responsibility to confirm your eligibility and your obligations. Take professional advice if you are unsure.

No advice, no guarantees

LegendTrade Guide is an independent informational website. Nothing published here is financial, investment, legal, or tax advice, no outcome is promised, and no content is a recommendation to trade. Verify every figure with Legend directly before acting on it.

If trading is harming you

Chasing losses, hiding losses, borrowing to trade, or trading money needed for essentials are signs to stop. Consider blocking access to trading platforms and seeking support from a qualified professional or a problem-gambling service in your country. Nothing on this site is worth your financial wellbeing.