Best Stablecoin Yields in DeFi
The top stablecoin vault currently offers a 37.04% 7-day average APY. The table below ranks 50 stablecoin vaults (USDC, USDT, DAI, USDS) by 7-day average APY. Rates update daily at 06:00 UTC.
Last updated: August 23, 2026 · Data: vaults.fyi
| Protocol | Vault (links to app) | Network | 7-day APY | TVL | Reputation |
|---|---|---|---|---|---|
| Midas | Morini CarryTradeUSDTRYLeverage Vault | Ethereum | 37.04% | $17M | Med |
| Midas | Midas Fasanara Global | Ethereum | 32.03% | $64M | Med |
| Upshift Finance | NEMO USDC Yield | Ethereum | 24.74% | $8M | Med |
| Wildcat | Kain Warwick USD Coin | Ethereum | 19.79% | $6M | Med |
| Midas | Morini StockMarketTRBasisTrade Vault | Ethereum | 19.38% | $6M | Med |
| Yearn | Yearn v2 DAI | Ethereum | 17.91% | $3M | High |
| Euler | YieldNest Max USDC | Ethereum | 17.78% | $1M | Med |
| Accountable | Morini FXArbUSDTRY | Ethereum | 17.67% | $4M | Med |
| Accountable | SPICE Credit | Ethereum | 14.55% incl. 1.24% rewards | $1M | Med |
| Yearn | Yearn v2 USDC | Ethereum | 13.45% | $5M | High |
| Yearn | Yearn v2 USDT | Ethereum | 13.16% | $4M | High |
| Ember | Ember Pharos Alpha | Ethereum | 12.88% | $7M | Med |
| Midas | Midas mEDGE | Ethereum | 11.53% | $2M | High |
| Ember | Ember Y10K | Ethereum | 11.00% | $17M | Med |
| Lagoon | DeltaUSD HyperLiquid USDN Funding Arb | Ethereum | 10.92% | $1M | Med |
| Ultrayield | UltraYield USD | Ethereum | 10.87% | $4M | Med |
| Wildcat | Key USD Coin | Ethereum | 10.50% | $2M | Med |
| Morpho | SharpByte USDT Prime | Ethereum | 10.49% | $5M | Med |
| Wildcat | Hyperithm WildcatFast USD Coin | Ethereum | 10.49% | $1M | Med |
| Wildcat | Selini USD Coin | Ethereum | 10.37% | $9M | Med |
| Wildcat | Selini Tether USD | Ethereum | 10.37% | $8M | Med |
| Harvest Finance | Harvest 40 Acres USDC | Base | 10.22% | $2M | Med |
| Wildcat | MNNC Trading USD Coin | Ethereum | 10.06% | $3M | Med |
| Accountable | ONyC Core | Ethereum | 9.83% | $3M | Med |
| Wildcat | Wintermute Trading Tether USD | Ethereum | 9.52% | $47M | Med |
| Ember | Ember Earn | Ethereum | 9.52% | $3M | Med |
| Wildcat | Auros USD Coin | Ethereum | 9.41% | $6M | Med |
| Lagoon | Gami USDC | Ethereum | 9.03% | $9M | Med |
| Wildcat | Wintermute Trading USD Coin | Ethereum | 8.90% | $75M | Med |
| Lagoon | 9Summits flagship USDC | Ethereum | 8.79% | $4M | Med |
| Morpho | M1 USDC | Ethereum | 8.58% | $8M | Med |
| Morpho | Alpha USDC Forex V2 | Ethereum | 8.55% | $4M | Med |
| Arcadia | Arcadia USDC | Base | 8.49% | $2M | Med |
| Lagoon | Syntropia USDC | Ethereum | 8.42% | $4M | Med |
| Midas | Midas Fasanara ONE | Ethereum | 8.41% | $71M | Med |
| Midas | Midas Apollo Crypto | Ethereum | 8.39% | $8M | Med |
| Midas | Midas Rockaway Market Neutral | Ethereum | 8.08% | $7M | Med |
| Morpho | Steakhouse High Yield Turbo | Ethereum | 7.85% | $2M | Med |
| Morpho | Api3 dCOMP USDC | Ethereum | 7.82% | $14M | High |
| Lagoon | Tulipa USDC | Ethereum | 7.74% | $9M | Med |
| Morpho | Yearn OG USDC | Ethereum | 7.66% incl. 1.47% rewards | $9M | Med |
| Morpho | Hyperithm USDC | Ethereum | 7.53% | $2M | High |
| Morpho | Yearn OG USDC V2 | Ethereum | 7.42% incl. 1.47% rewards | $2M | Med |
| Morpho | Keyrock USDC | Ethereum | 7.39% incl. 1.47% rewards | $7M | Med |
| Concrete | Concrete Frontier USDC | Ethereum | 7.35% | $1M | Med |
| Fluid | Fluid Lite USD Vault | Ethereum | 7.32% | $42M | High |
| Morpho | Apyx USDC | Ethereum | 7.30% | $6M | Med |
| Midas | Turtle Huma PST Vault | Ethereum | 7.27% | $3M | Med |
| Morpho | Steakhouse Confidential Prime USDC | Ethereum | 7.20% | $40M | Med |
| Yearn | Morpho Yearn OG USDC Compounder | Ethereum | 7.19% | $7M | Med |
Where does this yield come from?
Stablecoin yield in DeFi comes from three sources: lending interest (borrowers pay to access liquidity), automated market making fees (from liquidity pools), and protocol incentives (token rewards). Base yield is organic and tracks the demand to borrow stablecoins for leverage and liquidity. DAI and USDS additionally earn from the Sky/MakerDAO DSR (DAI Savings Rate).
Risk considerations
Different stablecoins carry different risk profiles: USDC and USDT are centrally issued fiat-backed stablecoins; DAI and USDS are decentralized and collateral-backed. Beyond stablecoin issuer risk, DeFi vaults carry smart contract and protocol insolvency risk. No stablecoin yield in DeFi is insured.
Frequently asked questions
What is the best stablecoin yield in DeFi right now?
The highest 7-day average stablecoin APY is currently 37.04%, from Morini CarryTradeUSDTRYLeverage Vault on Ethereum. Across 50 stablecoin vaults (USDC, USDT, DAI, USDS), rates range from 7.19% to 37.04%. Data sourced from vaults.fyi, updated daily.
Which stablecoin has the highest DeFi yield — USDC, USDT, DAI, or USDS?
Yields across stablecoins are driven by borrowing demand and protocol incentives, so the top-yielding stablecoin changes over time. USDC and USDT vaults are the most liquid and typically offer the most options. DAI and USDS can offer higher rates during periods of strong protocol incentive emissions. The table above shows the current ranking across all four.
What are the risks of stablecoin yield in DeFi?
Key risks: smart contract vulnerabilities in the lending protocol, stablecoin de-peg risk (the underlying stablecoin losing its dollar peg), protocol insolvency, and oracle manipulation. Reward yield carries additional risk if protocol token prices fall. No DeFi deposit is insured.
How does DeFi stablecoin yield compare to traditional savings accounts?
DeFi stablecoin yields have historically ranged from 2% to 15%+ depending on market conditions, compared to 4-5% for US high-yield savings accounts in 2024-2025. DeFi yields are higher-risk and carry no government-backed insurance. During bear markets, DeFi rates often fall below traditional savings rates.
Related pages
- Best USDC Yields in DeFi
- Best USDT Yields in DeFi
- USDS Yield in DeFi — Live Rates
- DAI Yield in DeFi — Live Rates
- USDe / sUSDe Yield in DeFi — Live Rates
- Morpho Vault APY — Live Rates
- Aave USDC APY — Live Rate
Data sourced from vaults.fyi, updated daily. Last updated: August 23, 2026. Explore all vaults.