One platform.
Three vaults.
Every risk appetite.

If you want the lowest-variance yield, choose Funding Spread pure carry on funding payments, market-neutral. If you want delta-neutral exposure with a modest uplift from cross-book spread capture, choose Basis Trading slightly more return volatility, still no directional bet. If you can tolerate double-digit drawdowns and want convex upside from systematic long/short positioning, Directional Volatility is the play. Note: only Basis Trading is currently live; Funding Spread and Directional Volatility are in development.

Yes. Withdraw from one vault, redeposit to another. Redemption takes between 1 hour and 5 days depending on the vault.

Hyperliquid is the leading decentralized perpetuals venue by open interest, by volume, and by infrastructure quality. Its execution layer, oracle stack, and HIP-3 builder model give us the cleanest environment available for systematic strategies, with the deepest liquidity for the crypto and tokenized real-world assets we trade. Expansion to other venues, decentralized and centralized, begins in 2026.

Yes. Every investment strategy carries risk Pallas is a financial product, not a savings account. What matters is how those risks are mitigated and which risk profile fits each investor. Each Pallas vault is built around a specific risk profile, with vault-level controls calibrated to that profile: continuous hedging for the delta-neutral strategies, dampened short exposure and inverse-volatility sizing for the directional strategy, real-time monitoring across all three. Pick the vault whose risk profile matches what you are comfortable holding. You will never lose more than you deposited.

Each vault has its own redemption period, ranging from 1 hour to 5 days. You submit a request and your shares are queued for the next settlement window. No exit fees. No lock-up.

Pallas is non-custodial Pallas never takes custody of user funds. Vault smart contracts are overseen by a multisig as an additional security layer. Positions, P&L, and risk metrics are reported on-chain in real time.

No catch. The Premium Pass is a transferable membership NFT, free to mint during the private beta, and grants ~20% average savings on protocol fees across every Pallas vault current and future.