Risk disclosure

Effective 26 September 2026

Trading leveraged derivatives is high risk. Most people who do it lose money. This page is a plain list of the ways it goes wrong, so that if one of them happens to you it is not a surprise.

Leverage

Leverage multiplies both directions. At 10× a 10% move against you erases your margin; at 40× it takes 2.5%. Crypto moves that much regularly, and does it fastest at exactly the moments you cannot act.

Leverage is not a way to make a small account big. It is a way to make a small move matter. A position sized so that a normal day cannot hurt you is the only kind that survives an abnormal one.

Liquidation

If your margin falls below the venue's maintenance requirement, the venue closes your position for you, at whatever price it can get, and charges you for doing it. You do not get a warning, a call, or a chance to add funds.

Under cross margin your whole account balance backs every position, so one bad position can take the rest with it. Liquidations cluster: a move that liquidates you tends to liquidate others at the same level, which pushes price further in the same direction and worsens the fill you get.

Stop-losses reduce this risk. They do not remove it. A stop is an instruction to the venue that triggers at a price — in a gap or an outage it may fill far worse than where it was set, or not fill at all.

Funding

Perpetual futures have no expiry, and are held to spot by a funding payment exchanged between longs and shorts, typically every hour or eight hours. If you are on the paying side, holding costs you money continuously whether or not the position moves.

Funding can be large and can persist. A position that is flat on price for a week can still be meaningfully down on funding alone.

Liquidity and slippage

The price you see is not the price you get. Market orders take whatever the book offers, and in a thin market — a small listing, a quiet hour, a violent minute — that can be far from the last trade. Order books thin out precisely when volatility arrives.

Some venues and markets in Taba are far thinner than others. Depth shown in the interface is a snapshot and can vanish before your order arrives.

Venue failure

Your funds and positions live at third-party venues, not at Taba. Those venues can and do fail in ways nobody can reverse:

• going offline during volatility, exactly when you need to close;
• halting trading, changing margin rules, or delisting a market;
• mis-pricing an oracle or index, causing liquidations that should not have happened;
• being exploited, hacked or drained;
• freezing withdrawals, restricting an account, or becoming insolvent;
• requiring identity verification you cannot or will not complete, after you have already deposited.

Taba cannot prevent any of this, cannot compensate you for it, and has no leverage over a venue on your behalf. Spreading funds across venues limits the damage from any one of them.

Prediction markets

Prediction markets settle to an outcome decided by a resolution process, not by a price. That process can resolve against what you believed the question meant, can be disputed, and can take time. A market can also be illiquid enough that you cannot exit before resolution at any sensible price.

Read the resolution criteria of a market before taking a position in it. The wording is the product.

Automation

A market-making bot quotes both sides of a book and earns the spread. It also holds inventory, and inventory is a position. In a trend it accumulates the losing side and keeps quoting into it — the classic failure of the strategy, and it is fast.

Beyond market risk, an automated strategy can stall, disconnect, double-send, mis-size, or fail to stop when the server, the venue or the network misbehaves. Anything you start is your position and your loss. Start small, watch it, and do not leave it unattended because it has been fine so far.

Software and keys

Taba is early software built and maintained by one person. It has bugs, and some of them can cost money: a wrong figure, a failed cancel, a duplicate order, a stale price, a position that does not display. Verify anything that matters against the venue's own interface before you act on it.

Key risk is separate and permanent. If you lose access to your sign-in and have not exported your wallet key, the funds in that wallet are gone. No one can restore them. Export it now, not later.

Delegated trading keys are held on the server so orders can be signed without a prompt each time. They cannot withdraw — but if the server were compromised, they could be used to place orders, and bad orders lose money. If that is not acceptable to you, do not connect venues that use them, and do not run bots.

On-chain risk

Deposits and withdrawals are blockchain transactions. Sending to a wrong address or over a wrong network usually loses the funds permanently. Confirmations can be slow when you are in a hurry. Smart contracts, including those the venues use, can contain vulnerabilities.

Chain activity is public and permanent. Anyone who links your address to you can see everything it has ever done.

Legal and tax

Leveraged derivatives are regulated differently everywhere, and in some places are restricted or prohibited for retail traders. Whether you may lawfully trade what you are trading is your responsibility to establish, and Taba does not advise on it.

Trading profits are usually taxable. Records are yours to keep — the journal helps, but it is not a tax report and it is not advice.

By using Taba you confirm that you have read this page, that you understand you can lose everything you put at risk, and that you accept that risk yourself. See also the terms of use.

Effective 26 September 2026