Ethena USDe
USDE: rates for your exact amount
Every open USDE product in your country, sorted by what you earn. Interest is paid in USDE itself.
Reference without venue risk: the US Treasury 13-week bill yields 4.16% a year (9 Oct 2026). A row marked "below the reference" pays less than that while carrying the venue's risk. source ↗ · the reference over time →
| Venue | You earn | Highest rate | Tier | Product | Term | Conditions |
|---|---|---|---|---|---|---|
| Gate | 4.78% | Highest rate4.78% | B2/5· Medium risk | On-chain Earn · Ethena | Staking | |
| Gate | 4.75% | Highest rate4.75% | B2/5· Medium risk | Simple Earn Flexible | FlexibleWithdraw any time | |
| KuCoin | 4.75% | Highest rate4.75% | B2/5· Medium risk | Simple Earn Flexible | FlexibleWithdraw any time | |
| Ethena | 4.75% | Highest rate4.75% | B2/5· Medium risk | Ethena · Ethereum · 7 days unstaking | Staking | |
| Kraken | 4.13%below the reference | Highest rate4.13% | B2/5· Medium risk | Base Rewards | FlexibleWithdraw any time | |
| Aave v3 | 0.26%below the reference | Highest rate0.26% | B2/5· Medium risk | Aave v3 · Plasma | FlexibleWithdraw any time | |
| Aave v3 | 0.25%below the reference | Highest rate0.25% | B2/5· Medium risk | Aave v3 · Ethereum | FlexibleWithdraw any time | |
| Aave v3 | 0.01%below the reference | Highest rate0.01% | B2/5· Medium risk | Aave v3 · Monad | FlexibleWithdraw any time | |
| Aave v4 | 0.00%below the reference | Highest rate0.00% | C3/5· Higher risk | aave-v4 · Ethereum · Plus | FlexibleWithdraw any time | |
| Aave v3 | 0.00%below the reference | Highest rate0.00% | B2/5· Medium risk | Aave v3 · Mantle | FlexibleWithdraw any time |
Tier: A lowest risk, D active incident. The number after the letter is the criteria met.
Best rate each day (10,000 USD deposit) · Flexible
Show the numbers
| Day | Gate | KuCoin | Kraken | Aave v3 |
|---|---|---|---|---|
| 11 Oct 2026 | 4.75% | 4.75% | 4.13% | 0.26% |
| 10 Oct 2026 | 4.75% | 4.75% | 4.13% | 0.26% |
| 9 Oct 2026 | 4.75% | 4.75% | 4.13% | 0.27% |
| 8 Oct 2026 | 4.75% | 4.75% | 4.13% | 0.27% |
| 7 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.27% |
| 6 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.28% |
| 5 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.28% |
| 4 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.27% |
| 3 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.30% |
| 2 Oct 2026 | 4.75% | 4.75% | 4.25% | 0.30% |
| 1 Oct 2026 | 5.00% | 4.75% | 4.25% | 0.31% |
| 30 Sept 2026 | 5.00% | 4.75% | 4.25% | 0.31% |
| 29 Sept 2026 | 5.00% | 4.75% | 4.25% | 1.06% |
| 28 Sept 2026 | 5.00% | 4.75% | 4.25% | 1.05% |
| 27 Sept 2026 | 5.00% | 4.75% | 4.25% | 1.05% |
Risk of USDE itself B2/5· Medium risk
The coin is rated on its own; a product’s overall tier is the worse of the coin and the venue.
- Meets: Reserves attested monthly by an independent firm: Harris & Trotter
- Falls short: Reserves include hedged derivative positions (synthetic stablecoin)
- Falls short: Issuer has no licence from a major regulator (EU MiCA, New York, Singapore…)
- Falls short: Operating since 2024-02, under 3 years
- Meets: Never below 0.97 USD for more than a day
- Note: EU: BaFin stated that trading USDe on the secondary market is no longer permitted in the EU; USDe has no MiCA licence.
- Note: USDe itself has no freezing function, but Ethena can freeze sUSDe held by restricted addresses and transfer that sUSDe balance to another address.
- Note: Depends on off-exchange custodians and centralized exchanges for hedging: counterparty risk, prolonged negative funding, and thin secondary liquidity; circulation is around USD 4.9 billion (9/2026).