How to compare stablecoin yields
Enter the amount you want to deposit and how many days you plan to keep it there. For each option, type its name and APY, the fee it takes from rewards (performance fee), the one-off cost to get in and out (gas, bridge, withdrawal fees) and any lock-up period. The calculator compounds the APY over your period, removes the fee share and fixed costs, and sorts options by net earnings. Options that lock funds longer than your period are flagged.
APY already includes compounding, so the earnings for a partial year are amount ร ((1 + APY)^(days/365) โ 1). The net APY column turns the result back into a yearly rate after all costs โ the number to compare.
gross earnings = amount ร ((1 + APY)^(days รท 365) โ 1)
net earnings = gross ร (1 โ fee on rewards) โ fixed costs
net APY = (1 + net รท amount)^(365 รท days) โ 1Example: $10,000 for a year โ and $1,000 for 90 days
Three placeholder options: a savings product at 4% with no fees, a lending protocol at 6% that keeps 10% of rewards and costs $5 to enter and exit, and a liquidity pool at 9% with $20 of gas and a 30-day lock. For $10,000 over 365 days they earn $400, $535 and $880 โ the pool wins.
Now the same savings product and pool with $1,000 for 90 days. The savings product earns about $9.72; the pool earns about $1.48 after its $20 of gas โ a net APY of 0.6%. Fixed costs dominate small deposits and short periods. That is the most common reason people earn less than the advertised rate.
Where stablecoin yield comes from โ and the risks
- Lending to traders who borrow stablecoins for leverage โ yields rise in bull markets and fall when demand fades.
- Liquidity pools โ trading fees plus token incentives; incentives can end overnight.
- Tokenized treasury products โ yield from short-term government debt, with issuer and redemption terms to check.
- Platform risk โ a custodial platform can freeze withdrawals or fail.
- Smart-contract and oracle risk in DeFi.
- Depeg risk โ the stablecoin itself can trade below $1 for hours or longer.
If an option pays much more than the others, the difference is usually compensation for a risk. Write that risk next to the rate before you choose.
Practical tips
Re-check rates before you move money: variable APYs often change within days. Spread larger amounts across more than one platform and more than one stablecoin. Prefer products where you can withdraw quickly, and test a withdrawal with a small amount first. Keep records of rewards for taxes โ many countries tax yield as income when it is received. To model reinvesting rewards over several years, take the net APY from this page into the compound interest calculator.
USDT or USDC for yield?
Rates for the two largest dollar stablecoins differ between platforms and over time, and swapping one into the other costs a little. Before moving to chase a slightly higher rate on the other stablecoin, add the swap and network fees to the fixed-cost field โ for small amounts the switch rarely pays for itself.
Frequently asked questions
+Where can I find current stablecoin APYs?
On the platforms themselves and on DeFi dashboards. Rates change often, so this tool does not show live numbers โ type the ones you see on the day you compare.
+What is a good stablecoin yield?
One that clearly beats your alternatives after fees and that you understand. A yield far above others is usually paying you for extra risk.
+Why does a higher APY sometimes earn less?
Fees on rewards, gas and withdrawal costs and lock-ups reduce the real return โ especially for small amounts and short periods.
+Is stablecoin yield risk-free?
No. Platform failure, smart-contract bugs, depegs and regulatory changes can all cause losses.
+Can I export the comparison?
Yes, download it as Excel or CSV.
Calculations run entirely in your browser; nothing you type is sent to KOT.CASH. Results are estimates for information only and are not financial, tax or legal advice.