# Aave Rates: Borrow and Supply APY by Market

> Aave rates for every market: supply APY, variable borrow rate and utilization per asset and chain, with 90-day history and the rate curve behind each figure.

Markdown copy of https://voltfincrypto.com/apps/aave-rates

**Question:** What are Aave's supply and borrow rates for each asset and chain today?

- Kind: Dashboard in Voltfin Vantage
- Topic: [DeFi](https://voltfincrypto.com/topics/defi)
- Chains: Multi-chain, Ethereum, Arbitrum, Base, Avalanche, Plasma
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Aave sets each asset's rates from one input, utilization: the share of supplied assets that is borrowed. As utilization rises, the borrow rate climbs along the asset's rate curve, steeply past its optimal point, and suppliers earn the interest borrowers pay, less the reserve factor. This dashboard reads both rates and utilization for every asset on every Aave market.

Pick an asset to compare its rates across chains, or a market to see all of its assets at once. The history shows how rates followed utilization over the last 90 days and when governance changed a rate curve or a reserve factor. Every figure is read from the market's contracts at a named block, with the call behind it.

## Blueprint

### Rates now

Supply and borrow APY and utilization for each asset and market.

- **Supply APY** (%): The supply APY of the selected asset on the selected market, from liquidityRate at the latest read.
- **Variable borrow APY** (%): The variable borrow APY of the same reserve, from variableBorrowRate at the same read.
- **Utilization** (%): Total variable debt over total supplied for the reserve at the same block.
- **Total supplied** (USD): Total supplied to the reserve, from aToken totalSupply, valued at the oracle price.
- **Every asset on the market**: Each asset on the selected market with supply APY, borrow APY, utilization, supplied, borrowed and reserve factor.
- **This asset on every chain** (%): The supply and borrow APY of the selected asset on each Aave market, side by side.

### History

How a reserve's rates and utilization moved over the last 90 days.

- **Realized supply yield, 90 days** (%): What a supplier actually earned over the last 90 days, from growth in the reserve's liquidityIndex.
- **Realized borrow cost, 90 days** (%): What a borrower actually paid over the last 90 days, from growth in the reserve's variableBorrowIndex.
- **Rate curve** (%): The reserve's borrow and supply rates at every level of utilization under its current model, with today's point marked.
- **Rates and utilization by day** (%): Supply APY, borrow APY and utilization of the selected reserve by day, with rate curve and reserve factor changes marked.

Filters: Asset (Every asset listed on Aave, such as USDC, USDT, WETH or WBTC); Market (Every Aave market by chain, or all markets); Period (Last 7, 30 or 90 days).

## How it will be measured

- Rates come from Pool.getReserveData(asset): liquidityRate for suppliers and variableBorrowRate for borrowers, yearly rates stored in ray units and converted to APY with per-second compounding.
- Utilization is total variable debt over total supplied for the reserve, from variableDebtToken and aToken totalSupply at the same block.
- Realized supply yield and borrow cost over a period come from growth in the reserve's liquidityIndex and variableBorrowIndex between two pinned blocks, which captures every rate change in between.
- Rate curve and reserve factor changes are read from PoolConfigurator events and marked on the history.
- Daily history uses the first block after 00:00 UTC; rewards paid in other tokens are not part of the APY and are noted where they exist.

## Data it needs

- `lending_markets_daily` (to build): Supply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end.
- `yield_rates_daily` (to build): Supply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- Source: Aave v3 Pool ReserveDataUpdated events: liquidityRate, variableBorrowRate, liquidityIndex and variableBorrowIndex
- Source: Pool.getReserveData(asset) at daily blocks on each Aave v3 market
- Source: aToken and variableDebtToken totalSupply per reserve for utilization
- Source: PoolConfigurator events for reserve factor and interest rate strategy changes
- Source: Aave v4 spoke rate updates on Ethereum
- Source: Chainlink latestRoundData for USD sizes

## Questions

### How are Aave interest rates set?

By each asset's interest rate model. The borrow rate rises with utilization, gently up to an optimal level and steeply beyond it, which pulls utilization back by drawing in supply and discouraging new loans. The supply rate is the borrow interest shared among suppliers, less the reserve factor.

### What is the difference between APR and APY on Aave?

Aave's contracts store rates as yearly rates without compounding, an APR. Interest accrues every second, so the effective yearly return, the APY, is slightly higher. This dashboard shows APY and names the conversion it used.

### Why is the supply rate lower than the borrow rate?

Only the borrowed part of a reserve earns interest, and the reserve factor sends a share of that interest to the Aave treasury. The supply rate is therefore the borrow rate times utilization, less the treasury's share.

### Why do Aave rates differ between chains?

Each chain runs its own market with its own suppliers, borrowers and rate settings, so the same asset can be in high demand on one chain and mostly idle on another. Rates move toward each other only when users move funds between markets.

### Does the APY include rewards?

No. The rates shown are what the protocol pays and charges in the asset itself. Incentive programs that pay other tokens are listed separately where they exist, because they change often and depend on the reward token's price.

## Glossary

- **Utilization**: The share of an asset's supplied amount that is currently borrowed.
- **Reserve factor**: The share of borrowers' interest kept by the Aave treasury instead of paid to suppliers, set per asset by governance.
- **Optimal utilization**: The point on an asset's rate curve beyond which the borrow rate rises steeply, set per asset.
- **Ray**: Aave's fixed-point unit with 27 decimals, used to store rates and indexes on-chain.

## Related apps

- [DeFi Lending Rates Table: Utilization and LTV by Market](https://voltfincrypto.com/apps/defi-lending-rates-table)
- [Stablecoin Lending Rates: USDC and USDT APY](https://voltfincrypto.com/apps/stablecoin-lending-rates)
- [Aave v4 Tracker: Deposits, Loans, Hubs and Spokes](https://voltfincrypto.com/apps/aave-v4-tracker)
- [DeFi Lending Market Share: Aave, Morpho, Spark and Euler](https://voltfincrypto.com/apps/defi-lending-market-share)
- [ETH Liquidation Levels on DeFi Lending Markets](https://voltfincrypto.com/apps/eth-liquidation-levels)
- [DeFi TVL by Chain: Total Value Locked Rankings](https://voltfincrypto.com/apps/defi-tvl-by-chain)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F