Overview
Ethena USDe(USDE)
Token Price$1
24h Change+0.0064%
All Time HighDec 9, 2025$1.03
All Time LowOct 3, 2024$0.93
Key Metrics
$4.942b
$4.942b
4.944b USDE
Volume 24h$21.55m
CEX$21.52m
Spot$21.49m
USD Perp$26,947.42
COIN Perp$0
DEX$30,735.14
Spot$18,057.49
USD Perp$12,677.65
COIN Perp$0
Open Interest$3.78m
CEX$640,648.07
USD Perp$640,648.07
COIN PerpN/A
DEX$3.14m
USD Perp$3.14m
COIN PerpN/A
Token Information
Risks
How much debt can be issued against USDE as collateral across lending protocols.
Maximum possible exposure to USDE
$1.26b
$344.97m (max additional borrows against USDE) + $915.27m (bad debt if USDE was hacked now)
Aave V3
$814.41m at-risk exposure = $538.74m bad debt if hacked + $275.67m additional borrowable against USDE
Morpho V1
$417.66m at-risk exposure = $376.51m bad debt if hacked + $41.15m additional borrowable against USDE
Fluid
$22.38m at-risk exposure = $72.86 bad debt if hacked + $22.38m additional borrowable against USDE
Tydro
$4.47m at-risk exposure = -- bad debt if hacked + $4.47m additional borrowable against USDE
Venus Core Pool
$674,186.5 at-risk exposure = $296.43 bad debt if hacked + $673,890.07 additional borrowable against USDE
Euler V2
$650,952 at-risk exposure = $20,484.02 bad debt if hacked + $630,467.98 additional borrowable against USDE
Lista Lending
$45.99 at-risk exposure = $0 bad debt if hacked + $45.99 additional borrowable against USDE
Methodology and limitations
Showing collateral exposure for USDE on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
- Bad debt at $0 is a lower bound when some contributing markets return null for zero-price bad debt; null rows are excluded instead of being treated as zero.
Show exposure details
Each row is one protocol-chain exposure for USDE as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Markets
Token Usage
An is required to view token usage.
Yields
Showing 10 of 75 pools
Borrow
Showing 10 of 74 routes