DeltaUSD HyperLiquid USDN Funding Arb
View on Lagoon Finance Update infoDelta-neutral funding arbitrage & on-chain yield strategies targeting 15–20% annual returns
- #150 overall
- #67 on
- #2 on
Share token price
Other metrics
Returns and fees
| 1M | 3M | 6M | 1Y | Lifetime | |
|---|---|---|---|---|---|
| Gross Gross | 9.9% | 11.7% | 13.0% | 17.4% | 17.4% |
| Performance fee Performance | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Management fee Management | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Deposit fee Deposit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Withdrawal fee Withdrawal | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Net | 9.9% | 11.7% | 13.0% | 17.4% | 17.4% |
About the vault
This vault combines multiple market-neutral strategies designed to generate attractive USDT-denominated returns while minimizing directional market exposure.
The core strategy arbitrages funding rate discrepancies between SMARDEX Perpetuals and Hyperliquid. When SMARDEX's funding rate is more attractive than Hyperliquid's, the vault opens a delta-neutral position by going long on one venue and short on the other. Positions are dynamically rebalanced as funding conditions evolve.
In addition, the vault allocates a portion of its capital to carefully selected Everything.inc Earn opportunities, allowing idle liquidity to generate additional on-chain yield through decentralized lending and liquidity markets.
By combining funding arbitrage with diversified on-chain yield generation, the vault seeks to deliver 15–20% annual returns with controlled risk and minimal exposure to market direction.
Questions? Reach out on x.com/every_thing
About Hyperliquid
This vault is curated by Hyperliquid.
Hyperliquid is a layer 1 blockchain running a fully on-chain perpetuals and spot exchange, whose protocol-run Hyperliquidity Provider (HLP) vault supplies community-owned market making liquidity.
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 | #80 | #150 | #103 | #79 | #72 | #79 |
| Ranking on Ethereum | #22 | #67 | #37 | #27 | #19 | #18 |
| Ranking on Lagoon Finance | #2 | #2 | #2 | #2 | #1 | #1 |
| CAGR (net) | 13.8% | 9.9% | 11.7% | 13.0% | 17.4% | 17.4% |
| CAGR (gross) | 13.8% | 9.9% | 11.7% | 13.0% | 17.4% | 17.4% |
| Returns (net) | 0.2% | 0.8% | 2.8% | 6.2% | 16.2% | 16.2% |
| Returns (gross) | 0.2% | 0.8% | 2.8% | 6.2% | 16.2% | 16.2% |
| Sharpe ratio | 11.12 | 9.26 | 11.52 | 11.69 | 6.39 | 6.39 |
| Max drawdown | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% |
| Volatility | 1.2% | 1.0% | 1.0% | 1.2% | 3.5% | 3.5% |
| TVL low | $921.75K | $854.58K | $785.85K | $440.59K | $80.01K | $80.01K |
| TVL high | $949.53K | $949.53K | $1.09M | $1.09M | $1.09M | $1.09M |
| Share price start (USDT) | 1.1598 | 1.1537 | 1.1315 | 1.0949 | 1.0010 | 1.0010 |
| Share price end (USDT) | 1.16267 | 1.16267 | 1.16267 | 1.16267 | 1.16267 | 1.16267 |
| Period data availability | 8 days | 31 days | 91 days | 181 days | 342 days | 342 days |
| Period start | 2026-07-14 | 2026-06-21 | 2026-04-22 | 2026-01-22 | 2025-08-14 | 2025-08-14 |
| Period end | 2026-07-21 | 2026-07-21 | 2026-07-21 | 2026-07-21 | 2026-07-21 | 2026-07-21 |
Technical Details
| Vault name | DeltaUSD HyperLiquid USDN Funding Arb |
| Vault address | 0x01f461a0bbb218bc1943aa027c5bbc424391e541 |
| Chain | |
| Denomination | |
| Exchange rate used | 1 USDT = $0.999204 fetched |
| Share token | yieldUSDT |
| Protocol | Lagoon Finance |
| Homepage | View vault on protocol website |
| Current TVL | 945,100.042 USDT |
| Peak TVL | 1,088,151.95 USDT |
| Last share price | 1.163 USDT |
| Last updated | |
| Last updated block | 25,579,235 |
| Data refreshed at | |
| Data starts | 2025-08-14 00:00:00 UTC |
| Fee mode | Externalised |
| Fees internalised | No |
| Features | erc_7540_like, erc_7575_like, lagoon_like |
| Flags | --- |
| Deposit status | Open |
| Redemption status | Open |
| Deposit/redemption events | 448 |
Stay ahead with the best new vaults and essential DeFi updates.
Subscribe to Trading Strategy newsletter