Renzo Finance launches onchain basis trade product on Hyperliquid
Renzo Finance expands into onchain yield products
Renzo Protocol has rebranded to Renzo Finance and is moving beyond its restaking service. The company is launching its first onchain structured yield product, called Renzo Basis, on the Hyperliquid decentralized exchange. The product will initially support Bitcoin (BTC) and the Hyperliquid token HYPE.
Key points
- Renzo Basis automates a basis trade, buying an asset on the spot market while shorting the same amount in perpetual futures.
- Yield comes from the funding rate – a fee paid between perpetual futures traders.
- The product uses Hyperliquid’s API wallets, which let the app trade on a user’s behalf without taking custody of funds.
- Three safeguards – a hedge guard, a yield guard, and a safety buffer – are built into the strategy.
- Renzo plans to add more assets on Hyperliquid and expand to other DeFi venues, including an onchain equity perpetual basis trade on Lighter on Robinhood.
How Renzo Basis works
A basis trade holds two opposite positions at the same time: a long spot position (buying the asset) and a short perpetual futures position (selling the same amount). Because the two positions offset each other, price movements of the asset have little impact. The remaining profit comes from the funding rate, which is a fee traders pay each hour to keep their side of the futures contract. Renzo Basis automates this process and lets users set their own risk parameters.
Market context
Other platforms such as Ethena and Bitwise’s Superstate already offer basis‑trade yield products, but they typically operate off‑chain or use pooled funds. Renzo’s product is fully on‑chain, self‑custodial, and customizable, allowing users to choose the asset, venue, and risk settings.
Future roadmap
Renzo says all Hyperliquid assets that have both spot and perpetual markets will be added after the initial launch. The team is also testing other structured products, including autocallables (which pay regular coupons and may redeem early) and growth notes (which aim to capture upside while limiting downside).
