GFX Labs, Inc. d/b/a Oku Trade
Last updated: October 2, 2026
IMPORTANT—PLEASE READ
These Supplemental Terms apply to Perpetuals and are in addition to the Oku Trade Master Terms and Conditions, which they incorporate by reference. Before using Perpetuals, understand that:
These Perpetuals Supplemental Terms (these “Perpetuals Terms”) govern your access to and use of Perpetuals, a feature set of Oku and a Product. They supplement the Oku Trade Master Terms and Conditions (the “Master Terms”), which are incorporated by reference and apply in full. Capitalized terms not defined here have the meanings given in the Master Terms.
These Perpetuals Terms control over the Master Terms as to Perpetuals; the Privacy Policy controls as to information processing; the Master Terms control otherwise. Nothing here limits any disclaimer, limitation of liability, release, indemnification, or dispute-resolution provision of the Master Terms.
You must accept these Perpetuals Terms before you access or use Perpetuals. Doing so also reaffirms the Master Terms, including the arbitration agreement and class action and representative action waiver in Section 8 of the Master Terms. We may modify these Perpetuals Terms as described in Section 9.1 of the Master Terms; a material change—one that materially affects your rights, obligations, the risks described here, or the fees you pay—requires you to accept the updated version before you continue.
Perpetuals is a web and mobile means of reaching Third-Party Protocols through which you can, from a Wallet you control, interact with Perpetual Products and other leveraged or margined instruments those protocols make available—opening, managing, and closing Leveraged Positions. Not everything available on our web interfaces is available in our mobile applications, and availability differs by platform, operating system, app store, and jurisdiction; see Section 10.3 of the Master Terms. Except where these Perpetuals Terms say otherwise, Sections 2 and 6 of the Master Terms apply.
We do not create, issue, originate, underwrite, sponsor, guarantee, back, or administer any instrument accessible through Perpetuals, and we do not operate, control, or maintain any Third-Party Protocol that makes one available. Every term and mechanic—specifications, margin and collateral requirements, leverage ratios, funding rates, position limits, listing and delisting, order book, matching, pricing, and settlement—is defined and administered solely by the applicable Third-Party Protocol, which is a Third-Party Service. Names, tickers, and symbols identify only what an instrument references and imply no sponsorship, endorsement, or affiliation by us or by any reference-asset issuer.
Consistent with Sections 2.1 and 2.2 of the Master Terms, we never take custody, possession, or control of any Crypto Asset, Collateral, or margin in connection with Perpetuals. All supply, posting, holding, management, application, and return of Collateral or margin, and all Funding Payments, Liquidations, position management, and settlement, occur entirely within and according to the applicable Third-Party Protocol, outside our control or involvement.
Activity through Perpetuals is self-directed activity you initiate and authorize from your Wallet with a Third-Party Protocol. We do not execute transactions for you; do not act as a broker, dealer, exchange, futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, swap dealer, designated contract market, swap execution facility, or any similar intermediary or venue; do not solicit or accept orders; exercise no discretion; and do not select, match, or route to counterparties—except that we operate non-custodial software that transmits your Signed Messages to a protocol you choose. See Sections 6.4 and 6.6 of the Master Terms.
Oku Trade is not registered with, or regulated by, the U.S. Commodity Futures Trading Commission or the U.S. Securities and Exchange Commission in any capacity in connection with Perpetuals, and is not a member of the National Futures Association. Nothing about Perpetuals, including its availability to you, indicates that Oku Trade, any Perpetual Product, or any Third-Party Protocol has been reviewed, approved, endorsed, or authorized by any regulator or governmental authority.
Some protocols reached through Perpetuals are operated by Signed Message rather than by a native blockchain transaction. You create and sign the message with your Wallet; our systems may receive and transmit it to the protocol. We transmit only as you direct. We have no access to your private keys, we do not alter the content of any Signed Message, and transmitting one gives us no custody or control of any Crypto Asset. We do not guarantee that any Signed Message will be received, accepted, or acted on at any particular time or price.
We do not monitor your Leveraged Positions, Collateral or margin levels, health thresholds, Funding Payments, or liquidation prices, and we have no duty to notify you of any change, including a Liquidation. Any alert, indicator, or estimated liquidation price shown in the Products is a convenience only—it may be delayed, wrong, or absent, and must not be relied on. You are solely responsible for monitoring your positions. See Section 4.5 of the Master Terms.
You acknowledge and represent that you access and use Perpetuals, and any Third-Party Protocol reachable through it, on your own initiative; that we have not solicited you to do so; that you are able to reach the relevant Third-Party Protocol directly or through other interfaces; and that any decision to enter into, manage, or close a Leveraged Position is unsolicited and self-directed.
Perpetuals provides access to Hyperliquid. Each is a Third-Party Service. It is not owned, operated, controlled, or maintained by us, and we have no ability to alter, pause, reverse, or override its operation.
Each Third-Party Protocol has its own terms, rules, fees, and jurisdictional restrictions, which apply to you independently of these Perpetuals Terms and the Master Terms. You are responsible for reviewing and complying with them. We are not a party to them and do not enforce them. If a protocol prohibits or restricts your access, do not attempt to reach it through Perpetuals.
Before using any Third-Party Protocol through Perpetuals, you should review the protocol’s documentation to understand its margin, funding, liquidation, loss-sharing, oracle, and settlement mechanics, and the specifications of any instrument you intend to trade. Documentation may be accessible through the protocol’s official channels and/or through the Products.
A Third-Party Protocol may change its parameters, mechanics, listings, fees, or rules; may become unavailable, congested, degraded, or compromised; may fork, upgrade, or migrate; and may restrict or terminate access, in each case at any time and without notice to you or to us. We may add, change, or discontinue access to any Third-Party Protocol through Perpetuals at any time. See Sections 6.8 and 9.1.2 of the Master Terms.
We charge 0.01% of notional value on each trade you place through Perpetuals. It is charged to you, applied consistently, and does not vary with the instrument, the counterparty, or the outcome. Applicable fees are displayed before you authorize a transaction. Our fee is separate from and in addition to Gas and any fee, funding payment, spread, interest, borrowing cost, liquidation penalty, or other cost a Third-Party Protocol imposes. See Section 4.2 of the Master Terms.
The Third-Party Protocol reached through Perpetuals lets an interface attach an identifier—a “builder code”—to the Signed Messages it transmits, and we attach one. The effect is that the fee in Section 4.1 is charged to you by the protocol at the protocol level and paid to us, rather than collected by us separately. We disclose this expressly, as Section 4.2 of the Master Terms contemplates. We receive no other fee, rebate, referral payment, or revenue share from any Third-Party Protocol in connection with your activity, and no compensation from anyone other than you based on the size, value, or occurrence of your trades.
We do not hold positions, provide liquidity, operate a vault or market-making strategy, or otherwise trade on any Third-Party Protocol accessible through Perpetuals. Our holdings of Crypto Assets are limited to small balances used for development and maintenance, and to stablecoin liquidity supplied to a separate lending protocol that is not accessible through Perpetuals.
The risks in Section 6 of the Master Terms apply to Perpetuals. In addition, and without limiting them, you understand and accept the following.
Leverage and margin magnify both gains and losses. Adverse price movements can result in losses that equal or exceed your Collateral, including the total loss of your Collateral. You should not use leverage with assets you cannot afford to lose in full.
Your Positions and Collateral are subject to Liquidation by the Third-Party Protocol, which may occur automatically, at any time, without notice, and at unfavorable prices, whenever Collateral, margin, or other parameters set by the protocol fall below the applicable thresholds. Liquidation may occur during periods of volatility, congestion, or protocol or network degradation, when you may be unable to add Collateral or close your Position. Any estimated liquidation price displayed in the Products is an estimate only and is not a commitment, guarantee, or warning.
Perpetual Products have no fixed expiration and rely on funding, margin, liquidation, and other mechanics set entirely by the Third-Party Protocol. Funding Payments, funding rates, margin requirements, maintenance thresholds, and other parameters may change at any time, may be significant, and may operate against you, including while your Position is open.
A Third-Party Protocol may employ auto-deleveraging, socialized-loss, insurance-fund, clawback, or similar mechanisms that can reduce, close, or adversely affect your Positions or your Collateral regardless of your own actions and regardless of whether your Position is otherwise adequately margined.
A Third-Party Protocol may impose or change position limits, leverage caps, open-interest caps, order-size limits, listing or delisting decisions, or other parameters that affect your ability to open, maintain, adjust, or close a Position, including in ways that force you to realize a loss.
Perpetual Products and other leveraged instruments accessed through a Third-Party Protocol are not offered, listed, executed, cleared, or settled on a U.S.-registered exchange, contract market, designated clearing organization, or other regulated venue, and are not subject to the rules, protections, disclosures, surveillance, capital or margin requirements, customer-funds segregation, or recourse that may apply to products offered on such venues. There is no clearinghouse guarantee, no customer-funds protection regime, and no compensation fund. See Sections 6.6 and 6.7 of the Master Terms.
Marking, funding, and Liquidation may depend on prices, indices, marks, or oracles determined by the Third-Party Protocol, which may be delayed, inaccurate, incomplete, unavailable, or manipulated, and which may differ from prices available elsewhere. A Position may be liquidated on the basis of a price you do not observe and would not accept.
We do not guarantee that any Signed Message, adjustment, cancellation, or closing instruction will be received, accepted, or acted upon by a Third-Party Protocol, or acted upon at any particular time or price. Interface outages, network congestion, protocol downtime, wallet failures, and other conditions may prevent you from opening, adjusting, or closing a Position when you want to, including during the periods of volatility when it matters most.
The characterization of Perpetual Products and of the Third-Party Protocols that offer them under the laws of any jurisdiction is unsettled and may change. We make no representation as to the legal or regulatory characterization of any instrument or protocol, or as to whether your activity is permitted where you are. A change in law, regulation, enforcement posture, or protocol policy may restrict or eliminate your access, may force the closing of Positions, and may materially and adversely affect you.
Funding rates, liquidation cascades, oracle and reference prices, open interest, and other Perpetual Product mechanics may be targeted by other market participants. You may suffer losses as a result of conduct by third parties that we neither control nor monitor.
You are solely responsible for determining whether your access to and activity through Perpetuals, including holding any Leveraged Position, is lawful and permitted for you, and for complying with any eligibility, jurisdictional, or other restriction that applies—whether imposed by law, by a Third-Party Protocol, or by us. See Sections 4.6 and 6.5 of the Master Terms.
Access to Perpetuals, or to particular instruments or Third-Party Protocols, may be restricted or unavailable in certain jurisdictions or to certain persons. We may impose, change, or remove eligibility, jurisdictional, or instrument-level restrictions at any time, with or without notice. See Sections 4.6.2, 5.1, and 9.1.2 of the Master Terms.
Each Third-Party Protocol applies its own eligibility and jurisdictional restrictions. You represent that you are permitted to access and use each Third-Party Protocol you reach through Perpetuals under that protocol’s own terms and restrictions, and you agree to comply with them.
By accepting these Perpetuals Terms, you acknowledge, represent, and agree that:
7.1 You have read and understand these Perpetuals Terms and the Master Terms.
7.2 You understand how leverage, margin, funding, and liquidation work, and you understand that you can lose all of your Collateral, quickly and without notice.
7.3 We do not operate the venue, issue the instruments, set any parameter, or hold your Collateral, and every term and mechanic of any instrument is set and administered by the Third-Party Protocol.
7.4 Your Positions may be liquidated, auto-deleveraged, or subjected to socialized loss by the Third-Party Protocol regardless of your own actions.
7.5 The instruments you access are not offered, listed, executed, cleared, or settled on a U.S.-registered exchange or contract market, and none of the protections applicable to such venues apply to you.
7.6 We do not monitor your Positions, Collateral, margin, or liquidation risk, and we will not notify you about them.
7.7 You access Perpetuals and each Third-Party Protocol on your own initiative, we have not solicited you, and every decision to enter into, manage, or close a Position is unsolicited and self-directed.
7.8 You are eligible to access and use Perpetuals and each Third-Party Protocol you reach through it, under all restrictions that apply to you, including those imposed by the protocol itself.
7.9 You are able to bear the total loss of any Collateral you commit, and you have had the opportunity to obtain independent legal, tax, and financial advice.
Sections 3 through 9 of the Master Terms—intellectual property, your responsibilities, suspensions, disclaimers, release and limitation of liability, indemnification, governing law and dispute resolution, and the other legal terms—apply in full to Perpetuals and to these Perpetuals Terms, and are not restated here. Section titles in these Perpetuals Terms are for convenience only and have no contractual effect.
Any Dispute relating to Perpetuals or to these Perpetuals Terms is subject to the binding arbitration agreement and the class action and representative action waiver in Section 8 of the Master Terms. These Perpetuals Terms contain no separate agreement to arbitrate; Section 8 of the Master Terms is the parties’ sole and entire agreement to arbitrate.