Risks & Security
CrossEx-Boros Terminal is free, open-source, experimental software published by Pendle. It places real orders with real funds on your own exchange account and can lose money. Nothing here is financial, investment, legal, or tax advice — see the full disclaimer.
Trading risks
Using CrossEx gives delta-neutral positioning on the perp legs of the arbitrage, but the trade is not risk-free:
- Exchange or platform issues — problems with Gate as an exchange, or a CrossEx malfunction, can interfere with the arbitrage.
- Perp price gaps — an unlikely but possible dislocation between the two perp venues could put the unified margin account at risk of liquidation even though the position is delta-neutral.
- Boros liquidation — if the spread moves far enough from your entry, your Boros position can be liquidated, breaking the fixed return. Keep a margin buffer on your Boros positions to guard against this.
- Unhedged legs — if only one perp leg fills (or a leg is opened without its hedge), you're exposed to price risk until it's corrected. Always confirm both legs are filled after execution.
Data & security model
- Your API keys never leave your machine, except inside signed requests to Gate.io's official API (
api.gateio.ws). They're stored in~/.boros-crossex/config/.env(macOS) or%LOCALAPPDATA%\CrossEx-Boros\config\.env(Windows), readable only by your user account. - The app isn't reachable over your network. The server binds to
127.0.0.1only and rejects requests whose Host/Origin isn't localhost. - No telemetry, no analytics. The only outbound traffic is to Gate's official API, public market-data endpoints for the venues involved, and a periodic version check against GitHub to show "update available" (
UPDATE_CHECK=0disables it). - It can't withdraw your funds. If you created the API key as described in Setting up CrossEx & API Key, Gate enforces this at the account level regardless of anything the app does.
Verifying the software yourself
The terminal is open source. Read the code directly at github.com/pendle-finance/crossex-boros-terminal, or use the AI-audit prompt in the README to have an AI assistant review the installer, uninstaller, and app source before you run anything.
FAQ
Are the displayed rates a quote? No. Every rate is live and moves; nothing shown is executable at a guaranteed price. Rates are priced at $100k notional per leg on the standard (VIP 0) fee tier, so your own size and fee tier will change the result.
Why is a spread sometimes negative? The engine always shows the orientation that receives the higher fixed rate — a negative number means execution cost (fees, price impact) exceeds the spread at that size, so it isn't worth trading.
What if the software breaks? It's open source and experimental, with no guaranteed support. Read the source yourself or have an AI assistant audit it before you paste in a key.