DeltaUSD HyperLiquid USDN Funding Arb
View on Lagoon FinanceThe vault arbitrages between SMARDEX perps and Hyperliquid funding rates, targeting 15–20% yearly yield.
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- #84 overall
- #32 on
- #4 on
Share token price
1M return (ann)
▲ 16.4%
Total value locked
$766.7K
peak $772.9K
3M Sharpe
11.6
3M volatility
1.3%
Other metrics
3M Sharpe
11.6
3M volatility
1.3%
Age
0.6 years
-0.0%
Protocol Technical Risk
Lockup period
Unknown
Denomination
Returns
| 1 month | 3 month | Lifetime | |
|---|---|---|---|
| Gross | 16.4% ann 1.3% abs | 14.3% ann 3.3% abs | 19.9% ann 12.5% abs |
| Net | 16.4% ann 1.3% abs | 14.3% ann 3.3% abs | 19.9% ann 12.5% abs |
Fees
| Management | Performance | Deposit | Withdraw | |
|---|---|---|---|---|
| Gross | 0.0% | 0.0% | 0.0% | 0.0% |
| Net | 0.0% | 0.0% | 0.0% | 0.0% |
About the vault
This vault aims to arbitrage between SMARDEX’s perpetuals and Hyperliquid’s funding rates. When SMARDEX’s rate is lower than Hyperliquid’s, we go long on SMARDEX’s perp and short on Hyperliquid. When the opposite occurs, we close the positions and mint USDN to maximize the capture of SMARDEX’s funding rates.
About Lagoon Finance
This vault is running on Lagoon Finance:
Open, general-purpose, secure vault infrastructure for on-chain yield products.
Performance metrics
| Metric | Week | Month | 3 months | 6 months | Year | Lifetime |
|---|---|---|---|---|---|---|
| Ranking overall | #100 | #84 | #87 | #90 | #93 | #95 |
| Ranking on Ethereum | #41 | #32 | #38 | #31 | #27 | #24 |
| Ranking on Lagoon Finance | #6 | #4 | #3 | #2 | #2 | #3 |
| CAGR (net) | --- | --- | --- | --- | --- | --- |
| CAGR (gross) | 14.9% | 16.4% | 14.3% | 17.9% | 19.9% | 19.9% |
| Returns (net) | --- | --- | --- | --- | --- | --- |
| Returns (gross) | 0.3% | 1.3% | 3.3% | 8.6% | 12.5% | 12.5% |
| Sharpe ratio | 11.39 | 13.13 | 11.64 | 5.67 | 6.63 | 6.63 |
| Max drawdown | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% | -0.0% |
| Volatility | 1.4% | 1.7% | 1.3% | 4.0% | 4.5% | 4.5% |
| TVL low | $658.33K | $561.65K | $430.48K | $350.03K | $80.01K | $80.01K |
| TVL high | $772.92K | $772.92K | $772.92K | $772.92K | $772.92K | $772.92K |
| Share price start (USDT) | 1.12334 | 1.11233 | 1.08986 | 1.03759 | 1.0010 | 1.0010 |
| Share price end (USDT) | 1.12633 | 1.12633 | 1.12633 | 1.12633 | 1.12633 | 1.12633 |
| Period data availability | 8 days | 31 days | 91 days | 183 days | 238 days | 238 days |
| Period start | 2026-04-01 | 2026-03-09 | 2026-01-08 | 2025-10-10 | 2025-08-14 | 2025-08-14 |
| Period end | 2026-04-08 | 2026-04-08 | 2026-04-08 | 2026-04-08 | 2026-04-08 | 2026-04-08 |
Technical Details
| Vault name | DeltaUSD HyperLiquid USDN Funding Arb |
| Vault address | 0x01f461a0bbb218bc1943aa027c5bbc424391e541 |
| Chain | |
| Denomination | |
| Share token | yieldUSDT |
| Protocol | Lagoon Finance |
| Homepage | View vault on protocol website |
| Current TVL | 766,665.882 USDT |
| Peak TVL | 772,921.349 USDT |
| Last share price | 1.126 USDT |
| Last updated | |
| Last updated block | 24,831,601 |
| Data refreshed at | |
| Data starts | 2025-08-14 00:00:00 UTC |
| Fee mode | Unknown |
| Fees internalised | --- |
| Features | erc_7540_like, erc_7575_like, lagoon_like |
| Flags | --- |
| Deposit status | Open |
| Redemption status | Open |
| Deposit events | 237 |
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