DeltaUSD HyperLiquid USDN Funding Arb
View on Lagoon Finance Update infoThe vault arbitrages between SMARDEX perps and Hyperliquid funding rates, targeting 15–20% yearly yield.
- #145 overall
- #66 on
- #3 on
Share token price
Other metrics
Returns and fees
| 1M | 3M | 6M | 1Y | Lifetime | |
|---|---|---|---|---|---|
| Gross Gross | 9.8% | 11.4% | 12.7% | 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 | --- | --- | --- | --- | --- |
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.
Questions ? DM us 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 | #179 | #145 | #111 | #85 | #74 | #82 |
| Ranking on Ethereum | #95 | #66 | #39 | #27 | #19 | #18 |
| Ranking on Lagoon Finance | #10 | #3 | #3 | #2 | #1 | #1 |
| CAGR (net) | --- | --- | --- | --- | --- | --- |
| CAGR (gross) | 7.3% | 9.8% | 11.4% | 12.7% | 17.4% | 17.4% |
| Returns (net) | --- | --- | --- | --- | --- | --- |
| Returns (gross) | 0.1% | 0.8% | 2.7% | 6.1% | 16.0% | 16.0% |
| Sharpe ratio | 7.22 | 9.23 | 11.39 | 11.51 | 6.39 | 6.39 |
| Max drawdown | 0.0% | 0.0% | 0.0% | 0.0% | -0.0% | -0.0% |
| Volatility | 1.0% | 1.0% | 1.0% | 1.2% | 3.6% | 3.6% |
| TVL low | $921.75K | $791.58K | $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 | 1.15251 | 1.13097 | 1.0949 | 1.0010 | 1.0010 |
| Share price end (USDT) | 1.16137 | 1.16137 | 1.16137 | 1.16137 | 1.16137 | 1.16137 |
| Period data availability | 8 days | 31 days | 91 days | 181 days | 339 days | 339 days |
| Period start | 2026-07-11 | 2026-06-18 | 2026-04-19 | 2026-01-19 | 2025-08-14 | 2025-08-14 |
| Period end | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 |
Technical Details
| Vault name | DeltaUSD HyperLiquid USDN Funding Arb |
| Vault address | 0x01f461a0bbb218bc1943aa027c5bbc424391e541 |
| Chain | |
| Denomination | |
| Exchange rate used | 1 USDT = $0.999315 fetched |
| Share token | yieldUSDT |
| Protocol | Lagoon Finance |
| Homepage | View vault on protocol website |
| Current TVL | 949,533.769 USDT |
| Peak TVL | 1,088,151.95 USDT |
| Last share price | 1.161 USDT |
| Last updated | |
| Last updated block | 25,558,835 |
| 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/redemption events | 437 |
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