Basis Desk One

Hedged staking carryLive · modeledETH-USD · HyperliquidCurated by North Basis

ETH staking yield with the price hedged: staked ETH held against the ETH perp short on Hyperliquid at equal notional, plus the funding on the short.

Modeled APY1.7%net of venue costs and the 20% compute fee

TVL$0$186K seeded

Share value0.00001.0000 at inception

Depositors4since inception

Capacity$472K$286K left

Capacity usedlimited by the depth of the ETH perp book at Hyperliquid

39%

$186K deposited$472K total capacity

Overview

Basis Desk One earns staking yield on ETH with the price hedged. The basis engine holds staked ETH against the ETH perp short at Hyperliquid at equal notional, so the return is the staking yield plus the funding on the short, and margin rules keep the short funded. Earned yield is swept back into the position on a 24h cadence.

All figures on this page are modeled from the vault's published parameters.

Vault configuration

CuratorNorth Basis

CreatedFeb 14, 2026

VenueHyperliquid

ChainHyperliquid L1

Strategy classHedged staking carry

ModulesPerp marketBasis engineFunding guardAuto-compound

VerificationTrustless Execution Network, every action verified before it settles · modeled

Automations

Hyperliquid · ETH perp

Basis engine

Holds the staked spot long against a perp short at equal notional: the staking yield, plus the funding on the short.

In shadow

−0.70%net delta · target 0 · inside the bandmodeled now

−4.0%0+4.0%

Margin · keeps the short funded

Margin is below3.5%→Trim short, restore to 20%

Funding below−20.00% for 48 hours→Exit the venue

Cadence · every 5 minHedge leverage · 3.00xMargin reserve · 15%Margin now · 12.3%Last check · 4 min ago

Hyperliquid · Compounding

Auto-compound

Sweeps earned yield back into the position once it clears the threshold.

In shadow

Accrued since last compound$0.00

$0$4.00 accrues per 24h check · clears $155.00 in 39 checks

At the 24h check, accrued at least$155.00→Harvest and re-supply

Cadence · 24hLast compound · 4d agoNext check · in 13h

Also installed

Funding guardCloses the short and parks in spot when funding sits under the published floor.

Envelope, bands and thresholds are the vault's published parameters.

Performance

Share value, modeled

1.0099

Deterministic model from inception at the vault's modeled APY. 1.0000 at inception.

Returns

Since inception 244d+0.99%

7d return modeled+0.03%

30d change modeled−0.14%

Parameters

MarketETH-USD

VenueHyperliquid

Funding window48 hours

Hedge leverage3.00x

Margin reserve15% of short notional

Margin rule3.5% → 20%

Hedge coinETH perp

Funding floor−20.0% APR

Harvest threshold$155

Compound cadence24h

Capacity$472K

Capacity bindinglimited by the depth of the ETH perp book at Hyperliquid

Funding guardfloor −20.0%, 48 hours under it

Delta band±4.0%

Short liquidation+45% adverse ETH move

RiskFunding under −20.0% for 48 hours closes the short.

Remaining capacity$286K

Min deposit$50

Compute fee20% of the vault's growth after costs, above its previous high

Management feenone on idle capital

Withdrawalno exit rail on a modeled record

Composed modules

Perp marketPins the perp venue and market the basis position runs on.

Basis engineHolds the staked spot long against a perp short at equal notional: the staking yield, plus the funding on the short.

Funding guardCloses the short and parks in spot when funding sits under the published floor.

Auto-compoundSweeps earned yield back into the carry once it clears the harvest threshold.

Activity

Action	Detail	Time
Hedge trimmedmodeled	margin restored to 20%	2d ago
Compound executedmodeled	$159.25 re-supplied	4d ago
Hedge trimmedmodeled	margin restored to 20%	6d ago
Hedge trimmedmodeled	margin restored to 20%	11d ago
Compound executedmodeled	$142.54 re-supplied	43d ago
Compound executedmodeled	$146.24 re-supplied	Jul 26, 2026
Compound executedmodeled	$159.22 re-supplied	Jun 17, 2026
Compound executedmodeled	$168.02 re-supplied	May 9, 2026

Earlier activity truncated