DeFi Markets

A live scan of external lending markets, and a view of what a leveraged loop through them would pay.

Open DeFi Markets when you are deciding where the next allocation goes.

What you can answer with it

What the lending markets you could deploy into are currently paying.
Whether there is enough free liquidity in one to take the size you have in mind.
What a leveraged loop through a given pair would yield, and what it would cost if rates moved.

The Portfolio Analytics page is the shorter version of why that matters. This is the one view that looks outward: the others describe the book you already have.

Opportunities

One row per market leg, filterable by chain, protocol, type, size, yield and available liquidity, with rates, liquidity and utilisation on each. Star a market to keep it in view.

Each leg is tagged as collateral, an asset you can supply, or loan, an asset you can borrow. The same asset on the same protocol appears as both where the protocol allows both, because they are two different opportunities at two different rates. The protocol’s own symbol for the asset is shown alongside ours.

Available liquidity is the column that decides whether a yield is real for you. A market paying well on a million dollars of free liquidity is not a home for a ten million dollar allocation, and the rate on the screen is the rate before your own deposit moves it.

Looped yields

A grid of collateral assets against borrow assets. Each cell is one loop: supply the row asset, borrow the column asset against it, convert back, supply again. Cells are shaded by net yield, with the strongest pulled to the top left.

What a cell is telling you

Each cell shows the net yield on your own capital once the loop is applied. Two things drive it.

The first is how far the loop can be taken, which comes from the market’s own maximum loan to value ratio, discounted by a safety buffer you set. The buffer starts at 90% of the maximum, because nobody loops to the exact liquidation edge. Move it and every cell re-rates, which is the fastest way to see how much of a headline yield depends on running the position close to the line.

The second is the spread between what the collateral earns and what the borrowing costs, and this is the part worth sitting with. A loop multiplies that spread. While it is positive, leverage multiplies the gain. If borrow rates climb above supply rates the same multiplier runs the other way, and the cell that was the brightest green on the grid is the one that turns over hardest.

Where a market does not publish a maximum LTV, the cell is worked out on a conservative assumption and flagged as assumed, so an estimate is never sitting in the grid dressed as a reading. Pairs that are not real opportunities are left out.

Opening a cell

A cell opens into the individual protocol and market pairs behind it, best yield first, each with its rates, ratios, implied leverage and available liquidity.

The headline is the best pair. The expansion is where you find out whether it is best by a mile or by a basis point, and whether the market underneath it is deep enough to take your size. A stack of near-identical yields is a very different decision from one outlier, and the grid on its own cannot tell you which one you are looking at.

Risk and performance, for the same leverage and liquidation vocabulary applied to positions you already hold.
Portfolio, for where a new allocation lands once you make it.