stETH basis

by meridian, 131 days of sample record

Example, not live, curatedLido,Aave,Pendle,DeFi yield

+6.3%

since launch, after trading costs, before the performance fee

Price per share, in dollars Starting price $1.0000 Monday settlement

+6.3%Since launch

+1.4%30 days

−1.0%Worst drop

$2.18MIn the vault

691Backers

Is it safe?

What the contract would not let it do, if it were live

Trades only ETHOn Lido, Aave, Pendle. Any other market is refused.
Never borrows more than 1.5x its valueCounted on every open order, not only filled ones.
If it falls 8% from its best, it can only cut positionsA fast market can still take it past 8%.
Never puts more than 100% of the vault in one tradeThe most one market may hold at once.
Rules loosen only with 7 days' noticeYou can leave on a Monday before a change applies.

The creator has 5.1% of the vault in their own money ($111K).

Earns staking yield on ETH and borrows against it when that pays, otherwise parks in Pendle fixed yield. Boring on purpose.

StyleBasis

WatchesStaking yield, Borrow rates, Pendle fixed rates

Decides withRules only

Checks the marketEvery 6 hours

Run byA desk, on its own stack, under the same guard

For every $100 of profit
you would keep $85

The creator sets a 15% performance fee above your previous high. No deposit or exit fee.