BasisOS Hyperliquid


USDC-VIRTUAL
APY
Balance0USDC
Overview
Basis Vault acts as an automated delta-neutral basis trading strategy.Basis Vaults provide liquidity to Uniswap like decentralized exchanges and hedge the price exposure by opening a short position on the volatile asset.Basis Vaults automatically readjust the liquidity ranges, rebalance the hedge position and compound fees.Users receive an interest on the provided notional asset as the delta between collected fees and hedging costs.
Costs
Management Fee: A 2% annual management fee, applied proportionally with each user interaction with the vault.
Performance Fee: A 20% annual performance fee, applied only if the APY exceeds 10.95%. This fee is also charged proportionally during each interaction with the vault.
Entry and Exit costs: These fees cover the spread between spot and hedge positions and may vary based on market volatility.
Current entry cost: 0.42%
Current exit cost: 0.12%
The displayed APY is current and includes management and performance fees, but excludes entry and exit fees.
All fees and APYs are subject to change based on market conditions.
You can check APYs, historical entry and exit fees here.
How it works
1
Vault liquidity in USDC is split between the spot position and the short position, depending on the target leverage.
2
Liquidity for the short position is transferred to the Hedge Module.
3
The Hedge Module opens a short position to maintain a delta-neutral position on Hyperliquid, based on the exposure to the spot position.
4
The Strategy module automatically readjusts the size and collateral of the short position during rebalances, bringing the leverage to the target level.
Risks
Very frequent rebalancing creates fees that can offset yields. That's why the algorithm determines the maximum capital utilization rate and manages leverage on Hyperliquid. In most cases, leverage is set to 2x-5x.
Basis Vaults are affected by spread between futures and spot prices. High spreads can result in negative performance of the strategy.
The protocol relies on trusted third-party protocols such as Chainlink, Hyperliquid, Arbitrum, Base, Solana, Stargate, Jupiter, Uniswap, and others. There is a chance that one of these protocols could be temporarily offline. Depending on the situation, the algorithm will implement one of the pre-determined safety measures and do its best to mitigate liquidity risks.
Funding rates can turn negative for a long period of time, creating a downside for the strategy. However, historical data from major DEXs and CEXs shows that the funding rate is mostly positive YoY. Funding rates are determined by the market and affect performance.
To address smart-contract risks, all strategies have been audited by Hexens, but this does not guarantee anything.
Please be aware that no measures taken guarantee safety, and any interaction with the protocol can result in temporary or permanent loss of funds. The list of risks is not exhaustive. You act at your own risk, and the protocol is not responsible for any potential losses.