Tether(USDT)

Token Price$1-0.05%over 24h

All Time HighJul 23, 2018$1.32

All Time LowMar 1, 2015$0.57

Key Metrics

Market Cap$179.893b

Fully Diluted Valuation$185.353b

Circ. Supply180.123b USDT

Volume 24h$1.095b

CEX$1.095b

Spot$1.095b

USD Perp$8,326

COIN Perp$0

DEX$62,567

Spot$62,567

USD Perp$0

COIN Perp$0

Open Interest$16,075

CEX$16,075

USD Perp$16,075

COIN Perp—

DEX—

USD Perp—

COIN Perp—

Website X/Twitter

Categories:RWA Stablecoins

Risks

How much debt can be issued against USDT as collateral across lending protocols.

Maximum possible exposure to USDT

$151.24m

$15.43m (max additional borrows against USDT) + $135.81m (bad debt if USDT was hacked now)

Compound V3

$36.64m at-risk exposure = $26.18m bad debt if hacked + $10.46m additional borrowable against USDT

Euler V2

$5.01m at-risk exposure = $47,482 bad debt if hacked + $4.96m additional borrowable against USDT

Morpho V1

$12,644 at-risk exposure = $0.0013 bad debt if hacked + $12,644 additional borrowable against USDT

Aave V3

$90.06m at-risk exposure = $90.06m bad debt if hacked + $0 additional borrowable against USDT

Maple

$19.53m at-risk exposure = $19.53m bad debt if hacked + $0 additional borrowable against USDT

SparkLend

$2.14 at-risk exposure = $2.14 bad debt if hacked + $0 additional borrowable against USDT

Methodology and limitations

Showing collateral exposure for USDT 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.

Show exposure details

Each row is one protocol-chain exposure for USDT as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.

Protocol	Chain
Compound V3	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$10.46m	$26.18m
Euler V2	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$4.96m	$47,482
Morpho V1	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$12,644	$0.0013
Aave V3	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$90.06m
Maple	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$19.53m
SparkLend	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$2.14

Loading exposure details...

Markets

Loading USDT markets...

Token Usage

Token usage needs a subscription

Liquidations

Token liquidations need a subscription

Yields

Showing 10 of 829 pools

Pool	Reference	Protocol
1 aEthUSDTAave Ethereum USDT	USDT	Aave V3	$2.738b	-$235.87m	3.94%	—	Stable 77	25,483
2 syrupUSDTSyrup USDT	USDT	Maple	$665.5m	-$24.31m	5.27%	—	Stable 95	1,302
3 spUSDTSpark Savings USDT	USDT	Spark Savings	$408.66m	-$241.74m	3.78%	—	Stable 97	716
4 reUSDRe Protocol Deposit Token	reUSD	Re	$349.77m	+$9.95m	6.88%	—	Stable 98	918
5 spUSDTSpark USDT	USDT	SparkLend	$307.25m	-$14.21m	3.67%	—	Stable 82	207
6 DAI-USDC-USDT	DAI-USDC-USDT	Curve DEX	$161.62m	—	<0.01%0.00%+<0.01%	—	Stable 84	0
7 cUSDTv3Compound USDT	USDT	Compound V3	$158.68m	-$1.72m	4.86%	—	Stable 71	1,257
8 usdt	usdt	JustLend V1	$146.09m	+$22.69m	2.12%	—	Stable 83	—
9 fUSDTFluid Tether USD	USDT	Fluid Lending	$122.9m	-$8.57m	4.76%	—	Stable 79	1,588
10 steakUSDTSteakhouse Prime USDT	USDT	Morpho Blue	$83.93m	+$14.82m	3.61%	—	Stable 68	294

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Borrow

Showing 10 of 47 routes

Use USDTBorrow USDT

Collateral / Borrow	Protocol
1 USDT / tsUSDeStable Pool	EVAA Protocol	+7.17%	7.24%	0.07%	$51,642	95%
2 USDT / SifuFrozen	UwU Lend	+7.00%	10.69%	3.68%	$359,839	90%
3 USDT / USDT_STORMLP Pool	EVAA Protocol	+5.28%	5.73%	0.45%	$233,883	74%
4 USDT / cbBTCSOL/BTC Market	Kamino Lend	+4.56%	4.85%	0.29%	$3.26m	80%
5 USDT / xBTCSOL/BTC Market	Kamino Lend	+4.55%	4.85%	0.30%	$577,028	80%
6 USDT / TON_STORMLP Pool	EVAA Protocol	+4.06%	5.73%	1.67%	$31,006	74%
7 USDT / DAIFrozen	UwU Lend	+4.01%	10.69%	6.68%	$39,396	90%
8 USDT / WETHFrozen	UwU Lend	+3.78%	10.69%	6.91%	$17,853	90%
9 USDT / WETHSOL/BTC Market	Kamino Lend	+3.10%	4.85%	1.75%	$58,017	80%
10 USDT / NOTAlts Pool	EVAA Protocol	+2.63%	4.54%	1.91%	$10,221	69%

Loading borrow routes...

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Protocol	Chain
Compound V3	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$10.46m	$26.18m
Euler V2	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$4.96m	$47,482
Morpho V1	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$12,644	$0.0013
Aave V3	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$90.06m
Maple	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$19.53m
SparkLend	Ethereum	USDT0xdac17f958d2ee523a2206206994597c13d831ec7	$0	$2.14

Pool	Reference	Protocol
1 aEthUSDTAave Ethereum USDT	USDT	Aave V3	$2.738b	-$235.87m	3.94%	—	Stable 77	25,483
2 syrupUSDTSyrup USDT	USDT	Maple	$665.5m	-$24.31m	5.27%	—	Stable 95	1,302
3 spUSDTSpark Savings USDT	USDT	Spark Savings	$408.66m	-$241.74m	3.78%	—	Stable 97	716
4 reUSDRe Protocol Deposit Token	reUSD	Re	$349.77m	+$9.95m	6.88%	—	Stable 98	918
5 spUSDTSpark USDT	USDT	SparkLend	$307.25m	-$14.21m	3.67%	—	Stable 82	207
6 DAI-USDC-USDT	DAI-USDC-USDT	Curve DEX	$161.62m	—	<0.01%0.00%+<0.01%	—	Stable 84	0
7 cUSDTv3Compound USDT	USDT	Compound V3	$158.68m	-$1.72m	4.86%	—	Stable 71	1,257
8 usdt	usdt	JustLend V1	$146.09m	+$22.69m	2.12%	—	Stable 83	—
9 fUSDTFluid Tether USD	USDT	Fluid Lending	$122.9m	-$8.57m	4.76%	—	Stable 79	1,588
10 steakUSDTSteakhouse Prime USDT	USDT	Morpho Blue	$83.93m	+$14.82m	3.61%	—	Stable 68	294

Collateral / Borrow	Protocol
1 USDT / tsUSDeStable Pool	EVAA Protocol	+7.17%	7.24%	0.07%	$51,642	95%
2 USDT / SifuFrozen	UwU Lend	+7.00%	10.69%	3.68%	$359,839	90%
3 USDT / USDT_STORMLP Pool	EVAA Protocol	+5.28%	5.73%	0.45%	$233,883	74%
4 USDT / cbBTCSOL/BTC Market	Kamino Lend	+4.56%	4.85%	0.29%	$3.26m	80%
5 USDT / xBTCSOL/BTC Market	Kamino Lend	+4.55%	4.85%	0.30%	$577,028	80%
6 USDT / TON_STORMLP Pool	EVAA Protocol	+4.06%	5.73%	1.67%	$31,006	74%
7 USDT / DAIFrozen	UwU Lend	+4.01%	10.69%	6.68%	$39,396	90%
8 USDT / WETHFrozen	UwU Lend	+3.78%	10.69%	6.91%	$17,853	90%
9 USDT / WETHSOL/BTC Market	Kamino Lend	+3.10%	4.85%	1.75%	$58,017	80%
10 USDT / NOTAlts Pool	EVAA Protocol	+2.63%	4.54%	1.91%	$10,221	69%

Overview