Steady ETH Loop

Leveraged loopLive · modeledwstETH/WETH · Morpho Blue · BaseCurated by Priime

wstETH looped against WETH on Morpho, with an ETH perp short holding net delta at zero.

Modeled APY4.1%net of venue costs and the 20% compute fee

TVL$0$332K seeded

Share value0.00001.0000 at inception

Depositors37since inception

Capacity$535K$203K left

Capacity usedlimited by WETH borrow liquidity on Morpho Blue · Base

62%

$332K deposited$535K total capacity

Overview

Steady ETH Loop runs a leveraged loop on wstETH/WETH via Morpho Blue on Base. Dynamic leverage holds the position at 3.00x and keeps it inside the published protection envelope. A perp short on ETH hedges the position's price, sized to its equity. 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

CuratorPriime

CreatedMar 2, 2026

VenueMorpho Blue

ChainBase

Strategy classLeveraged loop

ModulesLiquidity sourceDynamic leverageDynamic hedgeAuto-compound

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

Automations

Base · Safety controls

Dynamic leverage

Holds the loop at target. Trims when health drops, adds a layer when there is room.

In shadow

1.42health factor · 2.97x leverage · inside the target bandmodeled now

Emergency floor< 1.28

Deleverage1.35

Target1.42

Lever-up> 1.49

The cascade · one action per check

Health factor is below1.28→Fast unwind

Health factor between1.28 and 1.35→Sell slice, repay borrow

Health factor between1.35 and 1.49→Hold

Health factor is above1.49→Add a layer

Liquidation LTV · 94.5%Cascade acts after · 3.66pp of pair driftApplied leverage · 3.00xCadence · every blockLast rebalance · 8h ago

Hyperliquid · ETH perp

Dynamic hedge

Keeps net delta at zero and the short funded.

In shadow

−1.88%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 negative24 hours→Exit the venue

Cadence · every 5 minHedge leverage · 3.00xMargin reserve · 15%Margin now · 13.5%Last check · 3 min ago

Morpho Blue · Compounding

Auto-compound

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

In shadow

Accrued since last compound$0.00

$0$29.69 accrues per 24h check · clears $155.00 in 6 checks

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

Cadence · 24hLast compound · 5d agoNext check · in 13h

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

Performance

Share value, modeled

1.0259

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

Returns

Since inception 228d+2.59%

7d return modeled+0.30%

30d return modeled+0.46%

Parameters

MarketwstETH/WETH

VenueMorpho Blue · Base

Applied leverage3.00x

Liquidation LTV94.5%

Health bands1.42 target · 1.35 deleverage · 1.28 floor

Hedge leverage3.00x

Margin reserve15% of short notional

Margin rule3.5% → 20%

Hedge coinETH perp

Harvest threshold$155

Compound cadence24h

Capacity$535K

Capacity bindinglimited by WETH borrow liquidity on Morpho Blue · Base

Read atBase · block 49,174,196

Room the trim works intrims 3.66pp before it · 29% adverse pair move

Auto-deleverage begins1.35 health

Short liquidation+45% adverse ETH move

RiskTrims start at 1.35 health; liquidation needs wstETH to lose 29% against WETH.

Protection envelopeunwind below 1.28 · trim below 1.35 · re-lever above 1.49 health

Delta band±4.0%

Remaining capacity$203K

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

Liquidity sourceHolds the position on the venue and market this vault runs on.

Dynamic leverageWatches the health factor every block and trims the loop before it reaches the liquidation band.

Dynamic hedgeRuns a perp short against the position so price moves cancel, and keeps its margin funded.

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

Activity

Action	Detail	Time
Leverage rebalancedmodeled	2.93x → 3.00x	8h ago
Leverage rebalancedmodeled	3.01x → 3.00x	3d ago
Hedge trimmedmodeled	margin restored to 20%	3d ago
Leverage rebalancedmodeled	2.97x → 3.00x	5d ago
Compound executedmodeled	$159.18 re-supplied	5d ago
Leverage rebalancedmodeled	3.01x → 3.00x	7d ago
Hedge trimmedmodeled	margin restored to 20%	7d ago
Compound executedmodeled	$178.46 re-supplied	11d ago

Earlier activity truncated