Terms of use

Version 6 October 2026 · zunderlabs.com

Read this first

• We do not give investment advice. Nothing on this site or in our software is a recommendation to buy, sell or hold anything, or a statement that a trade or strategy is suitable for you.
• Trading crypto-assets and crypto derivatives can lose you all the money you put in, and quickly. Leverage multiplies losses. Only trade money you can afford to lose completely.
• You decide, and your keys are yours. Our tools check and limit; they do not decide what to trade. You alone choose your venue, your strategy, your bot or agent, your limits and your trades, and you alone are responsible for your keys and wallets.
• We hold nothing of yours. We never hold your funds, your keys or your seed phrase, and we never ask for them.
• Software fails. Limits can fail to act, stops can fill far from their price, venues go down. A risk tool reduces some risks; it does not remove risk.

Part A: the website and the browser tools

1. Who we are and what these terms cover

1.1 zunderlabs.com is run by orcastrate UG (haftungsbeschränkt), Plinganserstr. 55, 81369 München, Germany, registered at the Amtsgericht München under HRB 263777, represented by its managing director Jonas Grosch (“we”, “us”). Contact: hello@zunderlabs.com; for legal matters legal@zunderlabs.com. Full details: Impressum.

1.2 These terms apply to the use of the website, the tools that run in your browser on it (at present Backtest, Watch, Live market and the fee approval page; together the “Tools”), and the waitlist. Part B adds terms for Zunder Guard and its licences.

1.3 You may use the website only if you are at least 18 years old and legally able to agree to these terms.

2. What we provide

2.1 The Tools are free. They run in your browser and load public data directly from Hyperliquid. They show how a set of risk rules would have judged past or current trades of a Hyperliquid address. They cannot place, change or cancel orders and cannot block any trade. They connect to no wallet, with one exception: the fee approval page (/approve) asks your own wallet app to sign one message, Hyperliquid’s approval of Guard’s builder fee (section 13), and nothing else.

2.2 What we are not. We are not a bank, broker, exchange, investment firm or crypto-asset service provider. We do not receive, transmit or execute orders for you, we do not hold your funds or your keys, we do not manage portfolios and we do not give investment advice.

2.3 We may change, extend, restrict or discontinue the Tools and the website at any time. We do not promise that they are available at any particular time or free of errors.

3. No investment advice

3.1 All content on the website, including research notes, studies, backtests, rule judgements (“would have refused”), statistics, comparisons and anything shown by the Tools, is general information. It is not investment advice, not an investment recommendation and not an offer or solicitation to buy or sell any financial instrument or crypto-asset.

3.2 It does not take your personal circumstances, knowledge, objectives or ability to bear losses into account. Before you trade, consider whether trading suits you and, if in doubt, get independent professional advice.

4. Risk disclosure

4.1 Total loss. Crypto-assets are highly volatile. Prices can fall to zero. You can lose all the money you use for trading.

4.2 Leverage and derivatives. Perpetual futures and other leveraged products multiply gains and losses. A small price move can liquidate a position and lose the whole margin; with cross margin, the whole account can be lost. Funding payments, fees and slippage reduce results even when a trade is right.

4.3 The venue. Hyperliquid is a decentralised exchange that is not authorised as a trading venue or service provider in the European Union. It can change its rules, halt markets, liquidate positions, suffer outages, oracle errors, smart-contract or bridge failures, or become unavailable in your country. Your funds on it are not protected by any deposit guarantee or investor compensation scheme. You are responsible for checking that you may use it where you live.

4.4 Backtests and judgements are hypothetical. A backtest shows what rules would have done on past data, with simplifying assumptions about fills, fees, slippage and funding, which the Tools list. Past results do not predict future results. “Would have refused” means only that a rule would have been breached under those assumptions.

4.5 Software and automation. Trading bots, AI agents and risk tools, including ours, can contain errors, misread data, act on stale prices, be compromised or behave unexpectedly. A key that cannot withdraw can still be used to trade an account into losses.

4.6 Your own responsibility. You decide whether, what, when and how much to trade, and you bear the result.

5. The waitlist

If you join the waitlist we email you about the beta and launch of Zunder Guard as described in the privacy policy. Joining creates no obligation for you or for us; in particular we do not promise that Guard will be released, when, or on what terms, except for the launch offer in section 17.6.

6. Acceptable use

You must not:

a) use the website or the Tools in breach of any law or of sanctions, or from a country or as a person subject to EU, UN, UK or US sanctions; b) use them to prepare or carry out market manipulation, wash trading, spoofing, front-running or any other market abuse; c) use information shown about other traders’ addresses to identify, track, harass or expose people, or combine it with other data to find out who they are; d) overload, disrupt, scrape at scale or attack the website or the waitlist, get round rate limits or security measures, or submit other people’s email addresses to the waitlist; e) present results from the Tools as our recommendation, endorsement or certification, or use our names and logos in a way that suggests a connection with us that does not exist; f) interfere with other users’ use of the website.

We may block access to the website or remove waitlist entries if we have concrete reasons to believe these terms have been broken.

7. Third-party services

The Tools rely on Hyperliquid’s public interfaces and, on the fee approval page, on your own wallet app. Your use of Hyperliquid, of wallets and of other third-party services is governed by their own terms; we are not responsible for them, their availability or the data they provide.

8. Intellectual property

8.1 The content of the website (texts, graphics, design, code) belongs to us or our licensors. You may view it and use the Tools for your own purposes. Anything beyond that, in particular copying or republishing substantial parts, needs our consent unless the law allows it.

8.2 Open-source components and their licences are listed under Licences. “Zunder”, “Zunder Labs”, “Zunder Guard” and our logos are our names and marks; these terms grant no right to use them.

9. Liability

9.1 We are liable without limitation for intent and gross negligence, for injury to life, body or health, under the Product Liability Act (Produkthaftungsgesetz), and where we have given a guarantee or fraudulently concealed a defect.

9.2 For slight negligence we are liable only if we breach an obligation whose fulfilment makes proper performance possible in the first place and on which you may regularly rely (a material contractual obligation), and then only for the foreseeable damage typical for this kind of contract. Otherwise our liability for slight negligence is excluded.

9.3 If you act as a business (Unternehmer), our liability under 9.2 is also limited, per calendar year, to the amount you paid us in the twelve months before the damage occurred (licence prices and builder fees together), and to at least EUR 1,000.

9.4 In particular, and within the limits of 9.1 to 9.3, we are not liable for trading losses, lost profits, liquidations, fees or funding you incur, for decisions you or your bots or agents take on the basis of the Tools or of Guard, or for the availability and correctness of data from third parties such as Hyperliquid.

9.5 These limits also apply to the personal liability of our managing director, employees and agents.

10. Changes to these terms

10.1 We may change these terms for the future, for example when we add products or the law changes. The version in force is always on this page with its date. If you are on the waitlist, we will tell you of material changes by email.

10.2 Changes to these terms do not change a licence you have already bought (section 17) without your consent. We ask for it by email at least six weeks before the change would apply to you; if you do not agree, the terms you bought under continue until your licence ends. Your silence is not consent.

11. Governing law and jurisdiction

11.1 German law applies, excluding the UN Convention on Contracts for the International Sale of Goods. If you are a consumer, this choice of law does not deprive you of the protection of the mandatory provisions of the law of the country where you habitually reside.

11.2 If you are a merchant, a legal person under public law or have no general place of jurisdiction in Germany, the exclusive place of jurisdiction is Munich (München), Germany.

11.3 If a provision of these terms is invalid, the rest remain valid; the statutory rules apply instead (§ 306 BGB).

11.4 These terms are written in English. If we publish a translation, the English version prevails, unless you are a consumer and the translation is more favourable to you.

11.5 We are neither obliged nor willing to take part in dispute resolution proceedings before a consumer arbitration board.

Part B: Zunder Guard

12. What Guard is

12.1 Zunder Guard (“Guard”) is software that you install and run yourself, on your own computer or server. It sits between your trading bot or AI agent and Hyperliquid, checks each order against limits you configure, may reduce its size, refuse it or add a stop order, and sends the orders that pass from your machine to Hyperliquid, signed with an API wallet key that you created and that stays on your machine.

12.2 Guard’s source code is available under the Elastic License 2.0 (“ELv2”), published with each release. The builder fee (section 13) and the licence key (section 17) are licence-key functionality in the sense of the ELv2: you may not remove, disable or circumvent them. These terms apply in addition to the ELv2. Where they conflict about what you may do with the software, the ELv2 prevails.

12.3 Your decisions. Guard enforces the limits you set; it does not choose trades, strategies, venues or limits for you. Default limits are a starting point, not a recommendation that they suit you. You are responsible for your configuration, your bot or agent, and every order it sends.

12.4 Your keys. Never give us your main wallet’s private key or seed phrase; we will never ask for them. You create the API wallet, keep its key secure, and can revoke it on Hyperliquid at any time. We never receive it.

12.5 Paper mode and testnet cost nothing: no builder fee is charged in paper mode, and none on testnet unless you take part in a test we announce.

13. The builder fee

13.1 What it is. When Guard trades for you on Hyperliquid’s mainnet, the orders it places carry orcastrate’s builder code, and Hyperliquid charges a builder fee on them that it pays to orcastrate. This is how we are paid for Guard if you have no licence (section 17).

13.2 Amount. 0.02% of the value of each order Guard places with orcastrate’s builder code, charged by Hyperliquid on what is filled: opening and closing orders alike. Modifying or cancelling an order and changing leverage or margin carry no fee. In the current version, stop and take-profit orders, and orders sent together with them, also carry none; the release notes say when that changes. The fee is charged whether the trade later makes or loses money, in addition to Hyperliquid’s own trading fees. Example: a filled order of USD 10,000 costs USD 2.00 in builder fee; closing that position with a filled order of USD 10,000 costs another USD 2.00.

13.3 Your approval. Hyperliquid charges the fee only after you have approved a maximum builder fee for orcastrate’s builder address 0x0f50112710913B51A5D037795e5F4EFc08deBf2a with your main wallet. You can do that on our approval page (zunderlabs.com/approve) or with any tool that can sign Hyperliquid’s approval. Guard never charges more than you approved, and Hyperliquid caps builder fees at 0.1% on perpetuals. You can revoke the approval on Hyperliquid at any time.

13.4 Without an approval Guard does not open new positions on mainnet, and says why. Orders that reduce or close a position always go, so Guard never traps you in a position because of the fee.

13.5 Collection. Hyperliquid collects the fee from your account and credits it to orcastrate. We have no access to your account and cannot take any other amount.

13.6 We may lower the fee in later versions. A higher fee requires a new approval from you.

14. Services we may add

Guard runs entirely on your machine; it needs no service of ours. If we later offer an optional online service for Guard, we will publish its terms before you can use it.

15. Updates and security

15.1 We publish fixes and new versions as signed releases and say in the release notes what changed. Security fixes are marked as such. Report a vulnerability to security@zunderlabs.com (see /.well-known/security.txt); we aim to acknowledge within 3 working days.

15.2 If you are a consumer, we provide the updates, including security updates, that the law requires for the version you use, for as long as the law requires (§§ 327f ff. BGB). You are responsible for installing them; if you do not install an update within a reasonable time after we have told you about it and its consequences, we are not liable for a defect that the update would have avoided (§ 327f (2) BGB).

16. Liability for Guard

Section 9 applies to Guard and to licences. In particular, and within the limits of section 9, we are not liable for losses from market moves, from Hyperliquid’s behaviour, from your configuration, from your bot or agent, or from a stop that fills away from its trigger price.

17. Fee-free licences

17.1 What a licence is. A licence key turns the builder fee off for the licensee named in it, for up to the number of Hyperliquid accounts of its plan, until it expires. Guard checks it on your machine; nothing is sent to us.

17.2 Plans and prices (as on zunderlabs.com/pricing when you order):

• Pro: EUR 149 a month, or EUR 1,490 a year, for up to 3 accounts.
• Fund: EUR 690 a month, or EUR 6,900 a year, for up to 20 accounts, with priority email support.
• Platform: by individual agreement. Prices are net; VAT is added where it applies, and the invoice shows the total before you pay.

17.3 Ordering and paying. You order by email (hello@zunderlabs.com) or through the contact form. We confirm the order with an invoice; that confirmation makes the contract. You pay by SEPA transfer or in USDC, as stated on the invoice. We send the licence key once payment has arrived.

17.4 Term. A licence runs for the month or year you paid for, from the day we send the key, and then ends. It does not renew automatically.

17.5 At expiry Guard keeps protecting you. When a licence ends, or if a key is missing or invalid, Guard does not stop: it falls back to the builder fee (section 13) and keeps checking every order. If you have not approved the fee, Guard opens no new positions until you do (13.4); reducing and closing orders always go.

17.6 Launch offer. If you joined the waitlist before Guard 1.0.0 was released, you get a Pro licence free of charge for 3 months; we send the key when you ask for it after the release. It ends by itself; nothing is charged afterwards.

17.7 No refunds after the key is issued. Once we have sent the licence key, the price is not refunded, also not in part if you stop using Guard early. This does not limit your statutory rights for defects.

17.8 Right of withdrawal for consumers. If you buy a licence as a consumer, you have a statutory right of withdrawal of 14 days from the contract. To withdraw, tell us clearly, for example by email to legal@zunderlabs.com. We send the licence key before the withdrawal period ends only if you have expressly asked us to and confirmed that you know you thereby lose your right of withdrawal (§ 356 (5) BGB); we confirm that request in writing with the key. Without that request we send the key after the period.

17.9 Use. A licence is for the licensee named in it and the accounts it covers. You may not share or resell it. If you break this, we may end the licence without refund; Guard then falls back to the fee.