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Etesia Multistrat is a quantitative investment vehicle, leveraging multiple different strategies to provide return on investment that is not correlated to existing benchmarks or indices.
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Etesia Multistrat
A quantitative investment vehicle
Etesia Research is a systematic trading firm running institutional quantitative strategies onchain. Etesia Multistrat is a quantitative investment vehicle, leveraging multiple different strategies to provide return on investment that is not correlated to existing benchmarks or indices. It runs five strategies side by side on Hyperliquid (trend following, momentum ignition, over-extension fade, statistical arbitrage and liquidation reversion) at a 15% annualised volatility target, and can be long, short or market-neutral. Investors deposit USDC and keep their shares in their own wallet. It can lose money.
- Deposit
- USDC, receive etesiaUSDC shares
- Venue
- HyperEVM, executed on Hyperliquid
- Custody
- Non-custodial Lagoon ERC-7540 vault
- Risk target
- 15% annualised volatility
- Fees
- 1% management, 20% performance above the high-water mark
- Withdrawals
- Paid daily at 12:00 UTC, no withdrawal fee
Flagship strategy live since 27 May 2026, all five since 9 September 2026. The vault framework is Lagoon's, audited by Nethermind Security and Trail of Bits.
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Frequently asked questions
What is Etesia Research?
Etesia Research is a systematic trading firm running institutional quantitative strategies onchain. Etesia Multistrat is a quantitative investment vehicle, leveraging multiple different strategies to provide return on investment that is not correlated to existing benchmarks or indices. It runs on HyperEVM and trades on Hyperliquid. Signals are mechanical: no human approves a trade.
You deposit USDC and receive etesiaUSDC vault shares, which stay in your own wallet. Assets sit in a Gnosis Safe and a Lagoon ERC-7540 vault, not on Etesia's servers.
Which strategies are live?
Five: trend following, momentum ignition, over-extension fade, statistical arbitrage and liquidation reversion. The flagship trend-following strategy went live on Hyperliquid on 27 May 2026, and all five have been live since 9 September 2026.
Live performance since inception is published on app.etesiar.com. The backtest of the trend-following sleeve shows a 35.3% net return and a 1.41 Sharpe from April 2025 to June 2026, with a 9.3% maximum drawdown. Live execution has tracked that backtest within a few basis points per day since 27 May 2026.
What markets does it trade?
Crypto perpetuals and tokenized real-world assets across ten sectors. Seven are crypto-native: DeFi, Layer-1, Infrastructure, Meme, Payment, Proof of work and AI. Three are tokenized real-world assets: Energy, Equity indices and Metals, whose drivers are macro rather than crypto. On the trend-following sleeve, rolling one-year correlation is approximately -0.22 to Bitcoin and -0.39 to the S&P 500.
Why does it diversify a crypto portfolio?
The strategies can be long, short or market-neutral, so the vault does not depend on crypto rising. Trend following can profit when markets fall as well as when they rise, and the tokenized metals, energy and equity-index markets it trades are driven by macro factors rather than crypto.
Adding a low-correlation sleeve to a crypto portfolio does more than adding another token: diversification gains come from low correlation, not from the quality of any single asset.
What are the fees?
A 1.00% annual management fee and a 20% performance fee above the high-water mark. There is no deposit or withdrawal fee. Withdrawals are paid once per day, at 12:00 UTC: a request made before 08:00 UTC is paid the same day, a later request at 12:00 UTC the next day. Returns computed from the vault's share price are already net of fees.
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