Yield Vault
Earn premium basis trade yield
Who This Vault Is For
This vault is designed for LPs and users who want pure, real yield, the carry generated from delta-neutral trades and DeFi rewards, without taking exposure to airdrops, points programs, or speculative upside from the strategy’s directional legs. In exchange for giving up all airdrop and points claims, these users earn a premium yield, since the counterpart (Perpetual Airdrop Vault) tranche absorbs the points upside while receiving zero carry or DeFi rewards.This separation creates a clean payoff distinction and allows this vault to deliver stable, defensible and competitive yield.
Token Standard
The vault issues a non-rebase ERC-4626 token, allowing users to deposit once and passively accumulate rewards in the same position, while being able in the future to utilize it in money markets
Yield Sources and Distribution
The yield distributed to this vault comes from the aggregated rewards of the Spreads Mother Vault, which captures a diversified set of carry streams:
Funding fees earned from delta-neutral perp strategies
DeFi staking rewards from underlying collateral
Arbitrage opportunities across supported exchanges
Lending yield generated by idle or strategically deployed liquidity
All of these flows are pooled at the protocol level, optimized by the strategy engine, and routed to this vault in line with its payoff profile.
How to Deposit
Deposit USDC on Ethereum
Receive spr tokens
Navigate to the Earn → Airdrop Vault section
Stake your sprYIELD in the terminal to begin earning
The protocol charges 20% on all yield generated by the strategy
Risks of the strategy
Negative funding rate environment which subsidizes the yield generated
Exchanges and Defi risk of the underlying protocols utilized
Custodian risk
Last updated