USDC supply APY
%The average supply APY of tracked USDC markets on the latest day, weighted by the amount supplied to each.
Dashboard · VantagePlanned
Stablecoin Lending Rates: USDC and USDT APY
What do USDC and USDT earn and cost on the main DeFi lending markets today?
What USDC, USDT and other dollar stablecoins earn when supplied and cost when borrowed on the main DeFi lending markets, chain by chain.
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Blueprint
What the dashboard will show.
The dashboard as it will open in Vantage. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.
Rates now
Weighted supply and borrow rates and every market side by side.
USDT supply APY
%The same supply-weighted average for tracked USDT markets.
USDC borrow APY
%The average variable borrow APY of tracked USDC markets, weighted by the amount borrowed from each.
USDT borrow APY
%The same borrow-weighted average for tracked USDT markets.
Markets side by side
Each market's protocol, chain, asset, supply APY, borrow APY, utilization, supplied and borrowed amounts and collateral accepted, with a receipt per row.
Borrow rate against utilization
%Each market's borrow APY plotted against its utilization, which shows each protocol's rate curve at work.
History
How stablecoin rates and utilization moved.
USDC supply APY, 30-day average
%The weighted USDC supply APY averaged over the last thirty days, steadier than a single day's figure.
USDT supply APY, 30-day average
%The weighted USDT supply APY averaged over the last thirty days.
Utilization by day
%Daily utilization of the selected stablecoin's tracked markets, weighted by supply, over the period.
Supply and borrow APY by day
%Daily weighted supply and borrow APY of the selected stablecoin over the period, with MetaMorpho vault yields as a separate line.
- Stablecoin
- USDC, USDT, USDS, DAI or GHO
- Chain
- Every covered chain
- Period
- Last 7, 30 or 90 days
About
What it answers, and for whom.
Stablecoin lending rates are set by contracts, not by a desk: each market raises its rates as more of its deposits are borrowed. This dashboard reads the supply and borrow rates of USDC, USDT, USDS, DAI and GHO markets on Aave, Compound, Morpho, Spark and Euler across the covered chains, each at a pinned block.
Two figures matter for each market. The supply rate is what depositors earn and the borrow rate is what borrowers pay; the gap between them depends on how much of the market is borrowed and on the share of interest the protocol keeps. Rates are shown as APY, compounded from the rate each contract stores, so markets that accrue per second and per block compare fairly.
Use the market table to compare rates side by side and the history page to see how they moved. A high rate usually comes with high utilization, which can make withdrawals wait until borrowers repay; the utilization column shows it.
Method
How it will be measured.
Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.
How receipts work →- Aave v3 and SparkLend rates come from each reserve's liquidityRate and variableBorrowRate, read from reserve data and ReserveDataUpdated events at the pinned block and compounded to an annual yield.
- Compound v3 rates come from each Comet market's getSupplyRate and getBorrowRate at its current utilization; Euler v2 rates come from each vault's interest rate in its VaultStatus events.
- Morpho market rates come from AccrueInterest events and market totals, and MetaMorpho vault yields from the growth of convertToAssets between two daily blocks.
- Headline figures average markets weighted by the amounts supplied or borrowed, so a small market with an extreme rate does not set them; incentive tokens are shown apart and never added to the rate.
- Each rate links to the contract, the call or event and the block it was read at.
The data it needs
Read from chain state and history
- lending_markets_dailyTo buildLending marketsSupply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end.
- yield_rates_dailyTo buildYields and ratesSupply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table.
- Aave v3 and SparkLend ReserveDataUpdated events and reserve data for USDC, USDT, USDS, DAI and GHO
- Compound v3 Comet getUtilization(), getSupplyRate() and getBorrowRate() for USDC and USDT markets
- Morpho Blue AccrueInterest events and market(id) totals for stablecoin loan markets
- MetaMorpho vault convertToAssets at daily blocks, for realized vault yield
- Euler v2 EVault VaultStatus events: interest rate, total borrows and cash
Questions
Questions people ask.
Why do USDC lending rates differ between markets?
Each market sets its rate from its own utilization and rate curve, accepts different collateral and runs on its own chain. A market that lends against riskier collateral, or one that is nearly fully borrowed, usually pays depositors more.
What is the difference between APY and APR?
APR is a simple annual rate; APY includes compounding. Lending contracts accrue interest every second or block, so the dashboard converts each stored rate to an APY, which is slightly higher than the APR of the same market.
What is utilization?
Utilization is the share of a market's deposits that is currently borrowed. Rate curves raise borrow rates as utilization climbs, steeply above a target level, to draw in deposits and discourage borrowing so withdrawals stay possible.
Are reward tokens included in the rate?
No. Some markets pay extra tokens to depositors or borrowers. Those incentives are listed in their own column, valued only where an on-chain price exists and never added to the interest rate the contract pays.
Is lending stablecoins in DeFi risk-free?
No. Depositors take on the risk of the contracts, of the collateral a market accepts, of its oracles and of bad debt if liquidations fail. The dashboard shows rates and the settings behind them; it does not rate any market as safe.
- Supply APY
- The annual yield a depositor earns from borrowers' interest, compounded, after the protocol's reserve share.
- Borrow APY
- The annual cost of a variable-rate loan from the market, compounded.
- Utilization
- The amount borrowed divided by the amount supplied in a lending market; rates rise as it rises.
- Reserve factor
- The part of borrowers' interest a protocol keeps for its reserves instead of passing it to depositors.
Related
More apps like this.
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sUSDe, sUSDS, sDAI, syrupUSDC, scrvUSD and other yield-bearing dollars side by side: realized yield, supply and the source of each yield.
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Deposits and active loans across Aave, Morpho, Spark, Compound, Euler and Fluid, by chain, with each lender's share and how it moves.
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Which markets and collateral each Morpho vault lends into, who curates it, how its allocations changed and what depositors earned.
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Total stablecoin supply across chains, day by day, with its distance from the all-time high and the coins and chains behind it.
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