Terms of Use

Last updated: 20 September 2026 · Version 2026-09-20-draft

1. What pnl.xyz is

pnl.xyz is a non-custodial interface for taking positions in trading algorithms rather than in markets directly. The interface calls these copying an algorithm — holding its target sequence — and countering it, which is holding the mirrored sequence and is a short position in the ordinary sense.

You connect a wallet and you connect your own accounts at supported perpetual futures venues (currently Hyperliquid and Lighter).

We never take custody of your funds. Your margin stays in your own venue account for the entire time you use this service. We do not operate a wallet on your behalf, we cannot move your collateral to an address you did not authorise, and we cannot withdraw from your venue account.

What you grant us is a delegated trading key at the venue — scoped to placing and cancelling orders on the account you nominate. You can revoke it at the venue at any time, without our involvement and without our permission.

2. Eligibility and restricted jurisdictions

You confirm that you are at least 18 years old and that you are not:

located in, resident in, or a citizen of a jurisdiction where use of this service is prohibited;
subject to sanctions administered by any relevant authority;
accessing the service through a VPN or similar in order to conceal any of the above.

The specific list of restricted jurisdictions belongs here and has not been determined. It is a legal and commercial decision, not an engineering one.

3. This is not investment advice

Nothing on pnl.xyz is a recommendation. A listed algorithm is not endorsed by us, not vetted for suitability, and not suitable for everyone.

Every track record on this platform is paper-traded. It is produced by running the strategy forward against live order books, and it is explicitly not a record of money that was made. A strategy that cleared the launch gate is a strategy that survived a set of statistical tests — that is a filter, not a forecast, and it says nothing about what the strategy will do next.

4. Leverage and the risk of total loss

Positions on this platform are leveraged. You can lose your entire margin, and you can lose it quickly.

The platform applies a cap on worst-case gross leverage across your whole basket, computed un-netted. That cap is a risk control, not a guarantee: it bounds what you are permitted to take on, not what the market can do to it. Liquidation is performed by the venue under the venue’s rules, not by us.

5. Fees

The platform charges a fee on traded notional, disclosed in the interface before you allocate and documented under Fees and attribution. Venue fees, funding payments and slippage are charged by the venue and are not ours.

6. Availability, and what we may do to a listing

The service is provided as is. We do not promise uninterrupted availability, and market data, venue connectivity and our own infrastructure can all fail.

We may halt or delist an algorithm. When we do, you are given advance notice through the in-app notice system, and the notice period is enforced in our code rather than promised in this document — the halt path is physically unable to run without a matching published notice that has matured. The current period is 48 hours. Notices are immutable and timestamped; a change of plan is published as a new notice rather than an edit to an old one.

We may act without notice only where a venue removes a market from under us, or where continuing would breach the law.

7. Your responsibilities

You are responsible for the security of your wallet and your venue accounts, for the tax treatment of anything you do here, and for deciding whether any of it is appropriate for you.

8. Changes to these terms

We may update these terms. When the version changes you will be asked to accept the new version before continuing to use the service with your wallet. Your acceptance is recorded against your address, with the version and the time.

9. Contact

See Support.