# Trading Risk Disclosure > The risks of placing orders on your exchange accounts through ArbTide, and what ArbTide is and is not responsible for. Updated: 2026-09-24 **ArbTide can send orders to your exchange accounts when you ask it to. It is an execution tool, not an adviser, broker or fund manager. Every order is your own decision, placed at your own risk. ArbTide does not guarantee any profit and is not liable for any loss.** You must read and accept this disclosure before you connect an exchange key or place an order. We record the version you accepted, the time, and the address you accepted it from. ## What the tool does - When you press a trade button and confirm, ArbTide sends one or two orders to the exchanges you choose, using the API keys you connected. - It sizes each order from the amount you enter and the last price it collected. Each order is a limit order, immediate-or-cancel, at that price plus the maximum slippage you set. Whatever does not fill at once is cancelled. - If you turn on "close the other leg", ArbTide tries to close a leg that filled when the other leg did not, or to trim the larger leg after uneven fills. This closing order is also a limit order, immediate-or-cancel, at up to 2% from the fill price. It can fail or fill only in part. - ArbTide never withdraws, transfers or lends your funds. We refuse keys that we can see are allowed to withdraw. Some exchanges do not let us check this, so you must switch off withdrawals yourself. ## No advice and no guarantee Spreads, funding rates, carry returns and every other figure on ArbTide are estimates computed from public market data. They are not recommendations and they are not promises. A positive spread on screen does not mean a trade will make money. Past funding does not predict future funding. ## Risks you accept - **Delays.** Prices are collected every few seconds, and an order takes more time to reach the exchange. By then the price may have moved or the opportunity may be gone. - **Wrong or stale data.** Exchange APIs can return delayed, incomplete or wrong prices, fees, funding rates or contract details. Our collection, normalization or calculations can also be wrong. We may show a market that has already been delisted, suspended or restricted for your account. - **Partial fills and failed legs.** One leg can fill while the other fails or fills in part. You then hold a directional position until it is closed. Automatic closing can fail too. - **Slippage, fees and funding.** Fills can be worse than the price shown, up to the limit you set, and fees can differ from what we assumed. Funding rates change every interval and can turn against you. - **Leverage and liquidation.** Perpetual positions can be liquidated. Leverage multiplies losses. ArbTide does not watch or manage your margin after an order is placed. - **Exchange risk.** Exchanges can go down, reject orders, change their rules, freeze accounts, fail, or be hacked. Deposits and withdrawals between exchanges can be slow or suspended, so a spread may not be possible to close. - **Key security.** Anyone who gets your API keys can trade on your account. We encrypt keys at rest and only use them for the orders you request, but no system is perfectly secure. Use trade-only keys, restrict them to our IP addresses when the exchange allows it, and revoke them when you stop using ArbTide. - **Software faults.** The tool can have bugs, outages or misconfigurations that cause an order to be sent late, twice, with the wrong size, or not at all. ## Your responsibilities - Check every order before you confirm it, and check the result on the exchange afterwards. - Only trade money you can afford to lose. - Make sure trading these products is legal for you and allowed by each exchange's terms where you live. You are responsible for your own taxes. - Keep enough balance and margin on each account, and manage your open positions yourself. ## Liability To the maximum extent permitted by law, ArbTide and its operator are not liable for any loss, missed profit, fee, liquidation or other damage caused by orders placed through the tool, by delays, wrong or stale data, partial fills, failed or duplicate orders, exchange actions, or unauthorised use of your keys. The tool is provided "as is", without any warranty. If a court still finds us liable, our total liability is limited to the fees you paid ArbTide in the three months before the claim. ## Changes We may update this disclosure. When we do, you will be asked to accept the new version before your next order. See also the [Terms of Service](/terms) and the [Disclaimer](/disclaimer).