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What are Trading Vaults?

Trading Vaults allow you to deposit USDC into automated strategies on Hyperliquid. Unlike Staking (which generates yield from network emissions), Vaults generate yield from trading activity. This means your return is based on the Profit and Loss (PnL) of the specific strategy you choose.

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Types of Vaults

There are two primary types of vaults you can access via Dexari:

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1. The HLP Vault (Hyperliquidity Provider)

This is the native automated market maker (AMM) for the Hyperliquid exchange.
  • Strategy: The vault acts as “the house,” providing liquidity to other traders on the platform. It profits from the bid-ask spread and from traders’ liquidations.
  • Performance: HLP has historically provided robust APY, but past performance does not guarantee future results.

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2. Strategy Vaults (User Vaults)

These are vaults managed by individual traders or algorithmic strategies.
  • Strategy: You are essentially “copy-trading” the vault manager. If they open a long position on BTC, your deposited USDC backs a proportional share of that trade.
  • Performance: Returns are variable. A successful strategy can yield high returns, while a poor strategy can result in losses.

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How to deposit into a Vault

1

Check your USDC balance

Vaults on Hyperliquid are denominated in USDC. Ensure you have sufficient USDC in your Spot account.
2

Navigate to the Earn tab

Tap the Earn icon in the bottom navigation bar and select the Vaults category.
3

Select a Vault and review details

Tap on HLP or a specific User Vault. Review the performance metrics,  including all-time PnL, 30-day APR, and the vault description.
4

Tap 'Invest' and enter amount

Tap the Invest button and enter the amount of USDC you wish to allocate to this strategy.
5

Confirm your deposit

Review the details and hold to Confirm. Your funds will join the vault’s trading pool immediately or at the start of the next epoch.
You can view your completed vault activity from the History tab. Manage your vault positions directly from the Earn tab.

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Deposits & Withdrawals

To protect the active trading positions within a vault, capital is often managed in Epochs.
  • Depositing: You can deposit USDC at any time.
  • Withdrawing: When you request a withdrawal, your funds are unlocked after a settlement period (often varying by vault). This ensures the vault manager doesn’t have to force-close positions disadvantageously to pay you out immediately.

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Risk Warning

Warning: Vaults are not savings accounts. Unlike Staking (where the principal is stable in token terms), Vaults carry Market Risk.
  • Volatility: It is possible for a vault to have negative days or weeks.
  • Principal Risk: If the trading strategy loses money, your principal balance of USDC will decrease.
Always check the all-time PnL, 30-day return, and how long the vault has been active before depositing.