Capital deployed
Live pilot · Monad × Hyperliquid
ETH carry,
measured live.
carry.capital captures ETH funding and lending spreads through a market-neutral strategy across Hyperliquid and Monad.
Variable yield. Capital at risk.
Live pilot readout
CollectingIndicative net APY
Cumulative realized carry
Indicative metrics are computed from live venue observations and settled ledger entries. APY is not a forecast or guaranteed return.
The mechanism
One ETH position.
Two offsetting legs.
Supply WETH on Aave, borrow stables against it, and hold a matching ETH short on Hyperliquid. Price moves on the two legs cancel. What is left is the spread between what the collateral earns and what the hedge costs.
Collateral leg
Aave / Monad
SupplyWETHProductive collateral
→
BorrowUSDCStable debt
ReceivesWETH supply yield
Hedge leg
Hyperliquid
PositionSHORT ETHPerpetual, signed exposure
=
Sized toWETH SUPPLIEDMatched 1:1
Receives when positivePerpetual funding
Supply yield+Funding−Borrow cost=Net carry
Live performance
Performance telemetry.
Trailing APY annualizes settled net carry over time-weighted average strategy capital for the selected period. Variable and not guaranteed.
Collecting pilot data
Realized carrySampled strategy equity
Public risk surface
What we
publish.
We publish strategy-level numbers and nothing else. Addresses, balances, individual transactions, alerts, and anything about the machines stay private.
Venue allocationData unavailable
—Aave / Monad
Aave / Monad—
Hyperliquid—
Liquidation distanceMaintenance-aware
Aave downside
—
Current HF → 1.00
ETHNOW
HL short adverse move
—
Mark → HL-reported liq
HL is the ETH rise from mark to Hyperliquid’s reported liquidation price. It uses the current isolated margin and maintenance requirement, so it will not match 1 ÷ leverage. Both distances are snapshots, not guarantees.
Defense in depth
A deterministic
control loop.
The loop reads both venues independently, so neither one can mislead it about the other. As margin gets tighter it moves from watching, to shoring up the weaker leg, to cutting exposure outright.
- 01
Observe
Independent venue prices, collateral health, margin, and data freshness.
- 02
Defend locally
Strengthen the pressured venue without depending on the opposing feed.
- 03
Rebalance
Restore hedge alignment and target buffers under bounded execution policy.
- 04
Reduce
Cut exposure when defensive thresholds or integrity checks are breached.
Pilot access
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the pilot.
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