Compare DeFi Lending Rates & APY Yields 2026

Crypto lending lets you supply digital assets to an onchain market and earn a variable return, or use crypto as collateral to borrow another asset without selling it. Rates can change quickly, so the highest advertised APY is only a starting point: liquidity, incentives, collateral rules and protocol risk all matter.

Use the live table below to compare current opportunities, then review the protocol, market and asset before depositing. Crypto lending is not the same as a bank savings account, and principal is at risk.

Current Crypto Lending Yields Across Top Protocols

Chain

All ChainsEEthereumBBaseAArbitrumOOptimism

Category

All AssetsStablecoinsETH Correlated

Rewards Include Rewards

Token	L Lido Deposit	A Aave v3 Deposit	M Morpho Blue	B Binance Staked Eth	S Sky Lending	E Ether.fi Stake	S Sparklend	M Maple	R Rocket Pool	C Curve Dex
U USDC USD Coin	—	4.12% TVL $19.0M 4.12% TVL $772.8K 3.80% TVL $18.0M 3.76% TVL $204.8K	— TVL $225.1K — TVL $225.1K	—	—	—	3.54% TVL $2.0M 3.54% TVL $2.0M	5.03% TVL $2.7B 5.03% TVL $2.7B	—	—
USDC Supply APY - 30 Day History
U USDT Tether	—	3.50% TVL $230.3M 3.50% TVL $230.3M	—	—	—	—	2.62% TVL $67.7M 2.62% TVL $67.7M	4.69% TVL $1.0B 4.69% TVL $1.0B	—	—
USDT Supply APY - 30 Day History
D DAI Dai	—	2.98% TVL $20.1M 2.98% TVL $19.0M 1.99% TVL $1.1M	—	—	—	—	2.46% TVL $100.1M 2.46% TVL $100.1M	—	—	—
DAI Supply APY - 30 Day History
P PYUSD PayPal USD	—	5.78% TVL $765.9K 5.78% TVL $765.9K	—	—	—	—	0.55% TVL $84.2M 0.55% TVL $84.2M	—	—	—
PYUSD Supply APY - 30 Day History
S STETH stETH	2.19% TVL $24.3B 2.19% TVL $24.3B	—	—	—	—	—	—	—	—	—
STETH Supply APY - 30 Day History
W WEETH weETH	—	— TVL $3.8B — TVL $3.6B — TVL $42.6M — TVL $102.9M	— TVL $158.7M — TVL $153.9M — TVL $1.5M — TVL $3.3M	—	—	2.35% TVL $5.4B 2.35% TVL $5.4B 2.35% TVL $53.4M	— TVL $106.8M — TVL $106.8M	—	—	—
WEETH Supply APY - 30 Day History
W WBETH wBETH	—	—	—	2.27% TVL $8.9B 2.27% TVL $8.9B	—	—	—	—	—	—
WBETH Supply APY - 30 Day History
W WSTETH wstETH	—	0.04% TVL $226.8M 0.04% TVL $134.2M — TVL $37.6M — TVL $55.0M	— TVL $352.6M — TVL $342.6M — TVL $7.0M — TVL $2.9M	—	— TVL $56.2M — TVL $56.2M	—	— TVL $3.1B — TVL $3.1B	—	—	—
WSTETH Supply APY - 30 Day History
C CBBTC CBBTC	—	0.01% TVL $1.7B <0.01% TVL $1.5B 0.01% TVL $215.0M	— TVL $3.7B — TVL $717.8M — TVL $3.0B	—	—	—	— TVL $239.0M — TVL $239.0M	—	—	—
CBBTC Supply APY - 30 Day History
S SUSDS SUSDS	—	—	— TVL $62.8M — TVL $62.6M — TVL $181.8K	—	3.60% TVL $5.0B 3.60% TVL $4.6B 3.60% TVL $362.4M	—	— TVL $3.3M — TVL $3.3M	—	—	—
SUSDS Supply APY - 30 Day History

Filter by chain or asset category, and use Include Rewards to see whether token incentives change the displayed return. Expand a row for market-level details. The table includes lending, savings and selected staking products, so yields may come from borrower interest, protocol incentives, staking rewards or a combination of sources.

Supply APY is what depositors may earn; borrow APY is what borrowers may pay. Both are variable unless a product explicitly says otherwise. To compare the other side of the market, see DeFi Rate’s live crypto borrowing rates.

How to Compare Crypto Lending Rates

A large APY can be attractive, but it can also signal temporary incentives, thin liquidity or high demand for borrowed funds. Compare like with like: the same token, network, market type and reward setting.

Base APY vs. Reward APY

Base yield generally comes from the market’s underlying activity, such as interest paid by borrowers or staking rewards. Reward APY comes from additional tokens distributed by a protocol or partner. Rewards can end, decline in value or require a separate claim, so do not treat them as permanent interest.

Liquidity and Utilization

TVL or supplied liquidity indicates a market’s size, but not necessarily the amount available to withdraw. Utilization measures how much supplied capital has been borrowed. High utilization can push rates higher while leaving less liquid capital for withdrawals until borrowers repay or new supply arrives.

Asset, Chain and Market Risk

The same token can have different rates and risk profiles across networks and protocols. Check the exact token contract, the chain, collateral parameters, oracle design, withdrawal conditions and whether the market is isolated or shares risk with a larger pool.

What Is Crypto Lending?

Crypto lending is a way for asset holders to make tokens available to borrowers in exchange for yield. In most DeFi markets, borrowers post more collateral than the value of the loan. Smart contracts track balances, calculate interest and liquidate collateral if a position becomes unsafe.

Centralized finance (CeFi) lending works differently. A company takes custody of customer assets and decides how they are lent or deployed. Users rely on the company’s balance sheet, controls and legal obligations rather than only on smart contracts.

How DeFi Lending Works

1. Choose a market. Confirm the protocol, network, token contract and whether the return includes incentives.
2. Connect a compatible wallet. Review the site URL and transaction details before approving token access.
3. Supply the asset. The protocol records your position directly or issues a receipt token representing the deposit.
4. Yield accrues. The rate usually changes with utilization, governance parameters and any active reward program.
5. Withdraw when liquidity is available. A protocol may be solvent while a heavily utilized market temporarily lacks enough liquid assets for an immediate full withdrawal.

Supplying does not automatically mean borrowing. If you also borrow, monitor your collateral ratio or health factor. Falling collateral prices or rising debt can trigger liquidation.

DeFi Lending Protocols for 2026

DeFi lending protocols use different market structures. Some pool many suppliers and borrowers together; others isolate each collateral-and-loan pair or route deposits through managed vaults. The comparison below focuses on durable differences rather than fixed rates, chain counts or promotional rewards, which can change.

Aave

Aave uses pooled liquidity markets: suppliers deposit supported assets, borrowers post collateral and rates respond to market utilization. Parameters differ by asset and deployment, so users should check the selected market rather than assuming one Aave-wide APY or liquidation threshold.

Morpho

Morpho offers permissionless isolated lending markets and vaults that can allocate deposits across selected markets. This is different from Morpho’s earlier positioning as a peer-to-peer layer over Aave and Compound. For vaults, review both the underlying markets and the curator’s role, limits and allocation choices.

Compound

Compound III organizes each market around a base asset. Supplying that base asset can earn interest; assets supplied as collateral support borrowing but do not automatically earn interest. Check the specific deployment, supply caps and collateral factors.

Spark and Sky

Spark provides overcollateralized lending and savings products connected to the Sky ecosystem. Sky centers on USDS and related savings and borrowing tools. Product names, access rules and rates can differ by interface and jurisdiction, so verify the exact product before transacting.

Maple

Maple combines onchain infrastructure with managed lending and credit strategies. Returns can depend on borrower repayment and strategy management, not only an automated overcollateralized pool. Review the pool or vault documents, withdrawal terms and loss protections.

Kamino

Kamino provides lending, borrowing and vault products on Solana. Its markets can use collateral modes and risk parameters that change borrowing capacity. Check the selected reserve, oracle, loan-to-value limits and liquidation threshold before using leverage.

Risks of Crypto Lending

Audits and bug bounties can reduce risk, but they do not guarantee that a protocol or market is safe. Before supplying funds, consider each layer of the position:

• Smart-contract risk: A bug, exploit or faulty upgrade can cause losses or freeze access.
• Liquidation and oracle risk: Borrowers can lose collateral when a position crosses its liquidation threshold; bad or delayed price data can worsen outcomes.
• Token and stablecoin risk: A supplied asset, collateral token or stablecoin can lose value or its peg.
• Liquidity risk: High utilization or a withdrawal queue can delay access to funds.
• Credit and counterparty risk: Managed or undercollateralized strategies depend more directly on borrowers, managers and service providers.
• Reward risk: Incentive APY can disappear, and the reward token can fall in price.
• Governance and admin-key risk: Authorized parties may be able to change parameters, pause markets or upgrade contracts.
• Wallet and transaction risk: Phishing, malicious approvals, wrong-network transfers and compromised keys can bypass protocol safeguards.

Diversifying across protocols does not remove shared risks. Several markets may depend on the same stablecoin, oracle, bridge, blockchain or collateral asset.

DeFi Lending vs. Centralized Crypto Lending

CeFi accounts can be simpler to use, but the customer may not know exactly how deposited assets are deployed. Read the provider’s current terms for rehypothecation, withdrawal rights, collateral, insurance claims and geographic availability. Crypto interest accounts generally do not carry the same protections as insured bank deposits.

What Happened to Celsius, BlockFi and Other Crypto Lenders?

The 2022 crypto credit crisis showed why yield and liquidity should not be evaluated separately from counterparty risk. Celsius, BlockFi, Voyager and Genesis lending entities entered bankruptcy after combinations of concentrated loans, falling collateral values, liquidity mismatches and exposure to failed firms. Customers often became creditors rather than depositors with immediate withdrawal rights.

Regulators also brought cases over how some interest products were marketed. The FTC’s Celsius settlement permanently barred the company from handling consumer assets, while the SEC’s BlockFi action addressed an unregistered retail crypto lending product. The practical lesson is broader than any one company: understand who controls the assets, how returns are generated and what happens if withdrawals stop.

Before You Supply Crypto

• Verify the official protocol URL, network and token contract.
• Separate base APY from temporary rewards and estimate transaction costs.
• Check market liquidity, utilization, supply caps and withdrawal mechanics.
• Read the protocol’s risk parameters, audits, incident history and admin controls.
• If borrowing, leave a buffer above the liquidation threshold and monitor the position.
• Start with an amount you can afford to lose and test a small withdrawal before committing more.

Rates, product availability and rules can change without notice. This page is for informational purposes and is not financial, legal or tax advice.

Crypto Lending FAQ

About The Author

Alex Miguel

Alex is a writer and DeFi enthusiast who has been in the space since 2016. He has written whitepapers, press releases, and social media content for several projects in the space.

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