Last Updated: September 9, 2026
1.1 Supplemental Terms. These GMGN Perpetual DEX Terms of Service (these "Perpetual DEX Terms") supplement and form an integral part of the GMGN Terms of Service (the "General Terms"). The Perpetual DEX Terms and the General Terms, together with any Trading Rules, fee schedules, risk disclosures, policies or other terms expressly incorporated by reference therein, collectively constitute the agreement between you and GMGN governing your access to and use of the Perpetual Trading Services (collectively, the "Agreement").
1.2 Acceptance. By accessing or using the Perpetual Trading Services, including by connecting a wallet, depositing Digital Assets, submitting an Order or maintaining a Position, you agree to be bound by these Perpetual DEX Terms and the General Terms. If you do not agree to the Agreement, you must not access or use the Perpetual Trading Services.
1.3 Conflict. Except as expressly modified or supplemented by these Perpetual DEX Terms, the General Terms remain in full force and effect. In the event of any conflict or inconsistency between these Perpetual DEX Terms and the General Terms, these Perpetual DEX Terms will prevail solely with respect to the Perpetual Trading Services and only to the extent of the conflict or inconsistency.
2.1 Definitions. For purposes of these Perpetual DEX Terms:
3.1 Eligibility. You may use the Perpetual Trading Services only if you have the legal capacity and authority to enter into the Agreement and your use of the Perpetual Trading Services is lawful in each jurisdiction applicable to you. If you act on behalf of a legal entity, you represent and warrant that you are duly authorized to bind that entity to the Agreement.
3.2 Restricted Persons and Jurisdictions. You must not access or use the Perpetual Trading Services if you are located in, resident in, incorporated or organized under the laws of, or otherwise subject to restrictions applicable to any jurisdiction designated by GMGN as restricted, or if you are subject to applicable economic or trade sanctions or other legal restrictions. GMGN may restrict, suspend or terminate access based on location, sanctions status or other legal or regulatory considerations.
3.3 No Circumvention. You must not use a virtual private network, proxy, false location information or other means to conceal or misrepresent your location or otherwise circumvent any geographic, eligibility or access restriction applicable to the Perpetual Trading Services.
3.4 Restricted Jurisdictions. You must not access or use the Perpetual Trading Services if you are located in, resident in, incorporated or organized under the laws of, or have a registered office or principal place of business in the United States of America, China, Afghanistan, Cuba, Iran, North Korea, Syria (each, a "Restricted Jurisdiction"), or any other jurisdiction or territory that is the subject of comprehensive economic or trade sanctions administered by the United Nations, the U.S. Department of the Treasury's Office of Foreign Assets Control, the European Union or the United Kingdom.
4.1 Nature of the Services. GMGN provides functionality through which eligible users may access and trade supported Perpetual Contracts. The Perpetual Trading Services may incorporate both off-chain trading and account infrastructure and blockchain-based or cryptographic settlement infrastructure, and may be accessed through one or more websites, applications, APIs or other interfaces made available by GMGN from time to time.
4.2 Supported Markets and Features. Supported Digital Assets, reference assets, markets, leverage levels, Margin parameters, Order types, trading limits and other features may vary and may be added, modified, restricted, suspended or discontinued by GMGN from time to time in accordance with the applicable Trading Rules.
4.3 Availability. GMGN does not guarantee that any market, Order type, API, trading functionality or other component of the Perpetual Trading Services will be continuously available, uninterrupted or error-free. Availability may be affected by maintenance, market conditions, blockchain conditions, technical failures, security incidents or other circumstances.
5.1 External Wallet. You may be required to connect or bind an external wallet in order to access the Perpetual Trading Services. You are responsible for maintaining the security and confidentiality of your external wallet, its private key and seed phrase, and for all valid instructions signed using that wallet.
5.2 External Wallet Private Keys. GMGN does not request or hold the private key or seed phrase to your external self-custodial wallet. You must never disclose such information to GMGN or any person purporting to act on GMGN's behalf.
5.3 Trading Credentials. GMGN may permit you to generate, register or authorize one or more Trading Credentials for purposes of submitting or cancelling Orders or using automated, conditional or other trading functionality. The scope, duration and permitted uses of a Trading Credential may be restricted by the Services or applicable Trading Rules.
5.4 Authorized Instructions. Any Order, cancellation, strategy instruction or other trading action validly authenticated using a Trading Credential registered or authorized for your Account may be treated by GMGN as an instruction authorized by you, subject to any applicable restrictions associated with that Trading Credential. You are responsible for promptly revoking or replacing any Trading Credential that you know or suspect has been compromised.
5.5 Automated or Delegated Trading. Certain features may permit Orders to be submitted automatically or conditionally based on parameters, strategies, triggers or permissions previously established by you. Where you enable such functionality, Orders generated within the scope of your authorization will be treated as authorized by you even if you do not manually approve each individual Order at the time it is submitted.
6.1 Deposits. To use certain Perpetual Trading Services, you may be required to transfer supported Digital Assets from your external wallet to a Vault or other blockchain-based infrastructure associated with the Perpetual Trading Services. A deposit will be credited to your Account only after the applicable deposit process has been successfully completed and recognized by the relevant systems.
6.2 Account State. Your Account may reflect balances, Collateral, Positions, Margin, realized and unrealized profit and loss, fees, funding payments, withdrawals and other trading-related amounts. Such Account state may be updated in response to trades, funding events, transfers, liquidations, withdrawals and other events in accordance with the Trading Rules.
6.3 Blockchain Assets and Account Records. Digital Assets held through a Vault and the Account balances or Position information displayed through the Perpetual Trading Services are distinct concepts. Transactions may first affect your Account state before the corresponding state changes are subsequently cryptographically verified or settled through blockchain infrastructure.
7.1 Submission of Orders. Orders may be submitted through interfaces, APIs, Trading Credentials or other functionality made available through the Perpetual Trading Services. An Order must satisfy applicable authentication, account, Margin, market, size, price, risk and other requirements before it may be accepted for processing.
7.2 Order Acceptance Is Not Execution. An acknowledgement that an Order has been received or accepted does not mean that the Order has been executed. An Order may remain open, be partially filled, be fully filled, be modified, cancelled or rejected in accordance with the applicable Trading Rules and the operation of the Perpetual Trading Services.
7.3 Matching and Execution. Orders may be matched against compatible Orders or liquidity available through the Perpetual Trading Services. Following a match or other execution event, the applicable trading systems may update Order status, Position size, entry or average price, balances, Margin, fees and other Account state.
7.4 No Guarantee of Execution. GMGN does not guarantee that any Order will be accepted, matched or executed, or that execution will occur at any particular price or within any particular period. Execution may be affected by liquidity, market conditions, price movements, system latency, risk controls and technical factors.
7.5 Order Controls. GMGN may reject, cancel, reduce, restrict or otherwise decline to process an Order where permitted by the Trading Rules, including where necessary for risk management, system integrity, security, legal or regulatory compliance or orderly operation of the Perpetual Trading Services.
8.1 Liquidity Providers. Liquidity available through the Perpetual Trading Services may be provided by other users, market makers, designated liquidity providers or other participants. A liquidity provider may act as maker or otherwise provide liquidity in accordance with the applicable Trading Rules.
9.1 Margin Requirements. Opening or maintaining a Position may require sufficient Collateral or Margin. Applicable initial Margin, maintenance Margin, leverage limits, collateral eligibility, valuation methodologies and related requirements will be determined under the applicable Trading Rules and may vary by market, asset, Position or user.
9.2 Changes in Margin Requirements. GMGN may change Margin requirements, leverage limits, Position limits, collateral parameters or other risk parameters from time to time. Such changes may affect existing Positions and may require you to add Collateral, reduce a Position or take other action to avoid liquidation.
9.3 User Responsibility. You are solely responsible for monitoring your Positions, Margin, available balance and applicable market conditions, and for maintaining sufficient Collateral to satisfy applicable requirements. GMGN is not required to provide a Margin call or other notice before a Position becomes subject to liquidation.
10.1 Funding. Positions in Perpetual Contracts may be subject to periodic or otherwise applicable funding payments or adjustments. Depending on the applicable funding rate and your Position, you may be required to pay funding or may be entitled to receive funding.
10.2 Funding Methodology. Funding rates, reference prices, calculation methodologies, settlement intervals and other funding parameters will be determined or displayed in accordance with the applicable Trading Rules. Funding adjustments may be reflected in your Account state independently of the execution of a new Order.
11.1 Liquidation. If your Account or a Position fails to satisfy applicable Margin or risk requirements, all or part of the Position may be automatically reduced, closed, transferred, taken over or liquidated without further notice to or consent from you, in accordance with the applicable Trading Rules.
11.2 Risk Management Actions. GMGN or systems associated with the Perpetual Trading Services may cancel open Orders, reduce Positions, restrict withdrawals or transfers, limit trading activity or take other measures reasonably necessary to manage Margin shortfalls, system risk, market disruption, suspected abuse, security incidents or other circumstances contemplated by the Trading Rules.
11.3 Loss Management Mechanisms. Where applicable and as described in the Trading Rules, the Perpetual Trading Services may employ one or more loss-management mechanisms, which may include insurance funds, position takeover mechanisms, automatic deleveraging or other procedures designed to address liquidation shortfalls or extraordinary market conditions.
12.1 Fees. You agree to pay all applicable fees associated with the Perpetual Trading Services, which may include maker or taker trading fees, withdrawal fees and other fees disclosed through the Services or applicable fee schedule. Fees and fee rates may vary by market, transaction type or other applicable criteria.
12.2 Deduction of Fees. You authorize applicable fees and other amounts payable by you to be deducted from your Account balance, Collateral, transaction proceeds, withdrawal amount or other amounts associated with the Perpetual Trading Services, as applicable.
12.3 Funding Is Distinct. Funding payments or other trading-related adjustments may increase or decrease your Account balance and are not necessarily fees charged by GMGN.
12.4 Changes to Fees. GMGN may modify applicable fees from time to time by updating the applicable fee schedule or otherwise making the revised fees available through the Services. Your continued use of the relevant Perpetual Trading Services after such changes become effective constitutes acceptance of the revised fees.
13.1 Withdrawal Authorization. A withdrawal of Digital Assets from the Perpetual Trading Services may require a valid authorization from your external wallet or another authorization method designated for withdrawals by GMGN. Trading Credentials intended solely for Order submission or cancellation may not be authorized to withdraw assets.
13.2 Withdrawal Address. Withdrawals may only be made to an address permitted or verified by the Perpetual Trading Services. GMGN may require a withdrawal destination to correspond to a wallet previously connected, bound or otherwise verified in connection with your Account.
13.3 Withdrawal Processing. A valid withdrawal instruction does not by itself constitute a completed withdrawal. Withdrawal requests may be subject to Account checks, balance reservation or freezing, risk and security review, settlement processing, cryptographic verification, blockchain confirmation and other procedures associated with the Perpetual Trading Services.
13.4 Delay or Rejection. GMGN may delay, reject or otherwise decline to complete a withdrawal where required or permitted under the Trading Rules, including where the withdrawal would violate Margin requirements, applicable law, security controls, risk controls or other applicable restrictions. If a withdrawal is not completed, the relevant Account balance may remain frozen temporarily or be restored in accordance with the applicable processing state.
13.5 Blockchain Claim. GMGN or a service associated with the Perpetual Trading Services may submit or facilitate the blockchain transaction required to complete an authorized withdrawal, including paying applicable network gas and deducting any disclosed withdrawal fee. Completion occurs only when the relevant Digital Assets are successfully transferred through the applicable blockchain infrastructure.
14.1 Off-Chain Processing and On-Chain Settlement. You acknowledge that Orders and certain Account state changes may be processed off-chain and may subsequently be submitted, verified, recorded or settled through blockchain-based or cryptographic infrastructure. Accordingly, execution of a trade and completion of its blockchain settlement may occur at different times.
14.2 Cryptographic Verification. Certain batches or state transitions may be subject to cryptographic proof or other verification mechanisms before the relevant blockchain state is updated. GMGN does not guarantee that any proof, batch or blockchain transaction will be generated, submitted, verified or finalized within any particular period.
14.3 Blockchain Risk. Blockchain transactions may be delayed, fail, reorganize, become irreversible or otherwise be affected by network congestion, protocol changes, smart contract vulnerabilities, validators, forks, bridges, gas conditions or other matters outside GMGN's reasonable control.
15.1 Trading Rules. You must review and comply with the Trading Rules applicable to each market or feature you use. Trading Rules may include market specifications, Margin and leverage requirements, pricing methodologies, funding parameters, fees, Order requirements, Position limits, liquidation mechanics and other operational terms.
15.2 Changes to Trading Rules. GMGN may amend the Trading Rules from time to time, including in response to market conditions, technical developments, security considerations, risk-management needs or legal or regulatory requirements. Changes will become effective when made available through the Services or at such later time as specified by GMGN.
15.3 Market Manipulation. You must not engage in spoofing, wash trading, pump-and-dump activity, front-running, manipulation, artificial trading activity, abuse of market or pricing mechanisms, or any other fraudulent, deceptive or manipulative conduct in connection with the Perpetual Trading Services, including but not limited to: (a) placing Orders for the purpose of generating unnecessary volatility or creating a condition in which prices do not or will not reflect fair market value, including by artificially buying and selling around the same price to inflate trading volume, splitting an Order to create the appearance of additional trading activity, or executing successive trades to simulate artificial price momentum; (b) placing an Order with the sole intent of cancelling the bid or offer before execution; (c) pre-arranging any Order with another person for the purpose of creating an artificial execution; (d) placing an Order for the purpose of assisting another person to engage in manipulative or artificial transactions; or (e) placing simultaneous buy and sell Orders that could reasonably be expected to execute against each other.
15.4 Additional Prohibited Conduct. In addition to Section 15.3, in connection with your use of the Perpetual Trading Services you must not: (a) hold, transact in, or facilitate transactions in any Digital Asset that GMGN reasonably believes to be fraudulent; (b) engage in fraudulent or suspicious trading activity or transactions, including transactions involving an unreasonable volume within a given period, transactions inconsistent with your Account's trading history, transactions during periods of severe market price fluctuation, transactions related to or resulting from market manipulation, or transactions following a violation of the Agreement; (c) take any action that imposes an unreasonable or disproportionate load on GMGN's websites, software, systems, networks or servers used to provide the Perpetual Trading Services; or (d) introduce, transmit or facilitate any virus, trojan horse, malware, worm or other harmful code or routine that damages, disrupts, corrupts, misuses, intercepts, expropriates or gains unauthorized access to any system, data, information or the Perpetual Trading Services.
15.5 Monitoring and Enforcement. GMGN may monitor Orders, Positions, trading activity and use of the Perpetual Trading Services for market integrity, security, fraud prevention, risk management and legal or regulatory compliance, and may investigate suspected violations and take appropriate action, including rejecting or cancelling Orders, restricting functionality or suspending access.
16.1 API Use. Where GMGN provides an API or other programmatic access method, you are responsible for all Orders and other actions submitted through credentials or systems authorized by you. You must use such functionality only in accordance with the applicable documentation, Trading Rules and restrictions imposed by GMGN.
16.2 API and Automation Risks. APIs, bots, strategies, conditional Orders and other automated functionality may fail, experience latency, operate on stale or incorrect information, submit unintended Orders or fail to submit, modify or cancel Orders as expected. You are responsible for monitoring automated trading functionality enabled by you and for the consequences of its authorized operation.
17.1 General Trading Risk. Trading Perpetual Contracts is highly speculative and involves a substantial risk of loss. Digital Asset markets may experience extreme volatility, limited liquidity, sudden price movements, gaps, flash crashes and other market conditions that may cause you to lose some or all of your Collateral.
17.2 Leverage and Liquidation Risk. Leverage magnifies both gains and losses. Adverse price movements may rapidly reduce the value of your Collateral and may cause your Position to be liquidated before you are able to deposit additional Collateral, reduce your exposure or otherwise respond.
17.3 Funding Risk. Funding rates may change over time and may materially increase the cost of maintaining a Position or otherwise reduce your Account balance. Funding payments may be payable even if the market price of the underlying reference asset does not move materially in your favor or against you.
17.4 Pricing and Liquidity Risk. Prices, index prices, mark prices, reference prices or other values used for trading, Margin or liquidation purposes may differ from prices displayed on other markets or platforms. Liquidity may be limited or unavailable, and you may be unable to execute, modify or close a Position at your desired price or time.
17.5 Technology and Settlement Risk. You may suffer losses due to software defects, matching-engine or Account System failures, API failures, cryptographic-proof failures, delayed settlement, smart-contract vulnerabilities, blockchain congestion, network failures, oracle or data errors, cyberattacks or other technical events.
17.6 Credential Risk. Loss, compromise or unauthorized use of your external wallet, private keys, Trading Credentials or devices may result in unauthorized Orders or loss of access to the Services. You are solely responsible for securing credentials under your control.
17.7 Regulatory Risk. The legal and regulatory treatment of Digital Assets, Perpetual Contracts, decentralized trading systems and related technologies is uncertain and may change rapidly. Regulatory developments may require GMGN to modify, restrict, suspend or discontinue markets, features or access to the Perpetual Trading Services.
17.8 Market Risk. The value of Digital Assets, Perpetual Contracts and other reference assets may be highly volatile and may be affected by market sentiment, macroeconomic conditions, liquidity conditions, regulatory developments or other factors beyond GMGN's control. You may lose some or all of the value of your Collateral as a result of market volatility, independent of any Order you place.
17.9 Operational Risk. The Perpetual Trading Services depend on the continued operation of GMGN's systems, personnel, and third-party infrastructure and service providers. Interruptions, delays, errors or failures in any of these, whatever the cause and whether or not within GMGN's control, may prevent or delay your access to the Perpetual Trading Services, your ability to submit or cancel Orders, monitor your Positions or complete withdrawals, and may result in losses for which, to the fullest extent permitted by applicable law, GMGN is not liable.
18.1 No Investment Advice. GMGN does not provide investment, financial, legal or tax advice through the Perpetual Trading Services. Market data, analytics, prices, indicators, risk parameters, liquidation information or other information made available through the Services is provided for informational or operational purposes and must not be construed as a recommendation to enter into, maintain or close any Position. You are solely responsible for your trading decisions.
19.1 GMGN Rights. GMGN may restrict, suspend or terminate your access to all or part of the Perpetual Trading Services where reasonably necessary for security, risk management, market integrity, legal or regulatory compliance, suspected fraud or abuse, violation of the Agreement, system maintenance or other circumstances described in the Trading Rules.
19.2 Effect on Existing Trading Activity. Restriction, suspension or termination of access does not necessarily cancel outstanding Orders, close Positions, satisfy Margin obligations or complete pending withdrawals. You remain responsible for existing Positions and obligations unless and until they are closed, settled or otherwise handled in accordance with the Trading Rules. GMGN may take such risk-management actions with respect to outstanding Orders, Positions or Account balances as are permitted under the Trading Rules.
19.3 Discontinuance. GMGN may modify, suspend or discontinue any market, feature, interface, API or other component of the Perpetual Trading Services, subject to applicable law. Where reasonably practicable, GMGN may make available instructions regarding existing Positions, Orders or withdrawals affected by such action.
20.1 Application of General Terms. The disclaimers, releases, limitations of liability and other risk-allocation provisions contained in the General Terms apply fully to the Perpetual Trading Services. Without limiting the General Terms, the Perpetual Trading Services are provided on an "as is" and "as available" basis to the fullest extent permitted by applicable law.
20.2 Perpetual-Specific Disclaimer. To the fullest extent permitted by applicable law, GMGN does not warrant that Orders will be accepted or executed, that Positions will be capable of being closed at any particular price, that liquidations will occur at any particular price, that market or reference data will be accurate or continuously available, or that blockchain, Vault, smart-contract, cryptographic, API, matching, Account System or settlement functionality will operate without interruption, delay, defect or error.
20.3 Limitation of Liability. The liability cap and exclusions contained in the General Terms apply to all claims arising out of or relating to the Perpetual Trading Services. Nothing in these Perpetual DEX Terms is intended to expand GMGN's liability beyond the liability expressly assumed under the General Terms or applicable law.
21.1 Indemnification. The indemnification provisions of the General Terms apply to your use of the Perpetual Trading Services, including claims arising from your Orders, Positions, trading activity, misuse of Trading Credentials, violation of the Trading Rules, violation of applicable law or infringement of third-party rights.
22.1 Privacy and Data. Your use of the Perpetual Trading Services is subject to the GMGN Privacy Policy, as amended from time to time. GMGN may process wallet identifiers, Account information, Orders, Positions, transaction information, trading activity, device or network information and other information necessary to provide, secure, monitor and administer the Perpetual Trading Services, subject to the applicable Privacy Policy and law.
23.1 Amendments. GMGN may modify these Perpetual DEX Terms from time to time by posting or otherwise making the revised terms available through the Services. Unless otherwise stated, revised terms become effective when posted or on the effective date specified in the revised terms. Your continued access to or use of the Perpetual Trading Services after the revised terms become effective constitutes acceptance of the revised terms.
24.1 Governing Law and Dispute Resolution. The governing-law, arbitration, class-action waiver and other dispute-resolution provisions set out in the General Terms are incorporated into these Perpetual DEX Terms and apply to any dispute arising out of or relating to the Perpetual Trading Services as if set out in full herein.
25.1 Entire Agreement; Incorporation. These Perpetual DEX Terms are supplemental to, and form an integral part of, the General Terms. These Perpetual DEX Terms, the General Terms and all documents incorporated by reference therein together constitute the entire Agreement between you and GMGN with respect to the Perpetual Trading Services. For the avoidance of doubt, these Perpetual DEX Terms are not intended to displace provisions of the General Terms that are not inconsistent with these Perpetual DEX Terms.
26.1 Contact. Questions regarding the Perpetual Trading Services or these Perpetual DEX Terms may be directed to GMGN through the contact method designated in the General Terms or otherwise made available through the Services.