Crypto Lending Rate Report — Jun 29, 2026
Published Jun 29, 2026 · Rates captured live from the platforms we track.
- Cheapest DeFi rate: 0.35% for WBTC on Aave.
- Cheapest CeFi published floor: 1% on Crypto.com.
- On-chain DeFi stablecoin borrowing averages 3.88% this week, about 3.19 points cheaper than the typical CeFi floor of 7.07%.
- Aave DAI borrow fell 3.18 points week over week to 4.93%.
Lowest rates this week
Cheapest DeFi rate
0.35%
Aave · WBTC
Lowest tracked live DeFi borrow rate this week: 0.35% for WBTC on Aave.
WoW: no change
Cheapest CeFi rate
1%
Crypto.com
Lowest published CeFi starting APR in our dataset: 1% on Crypto.com.
WoW: published weekly comparison unavailable for CeFi floor data
Rates this week
Every market we track, ranked by lowest borrow APR. The change column shows week-over-week movement in percentage points.
| Platform | Asset | Borrow APR | Supply APY | WoW |
|---|---|---|---|---|
| Aave | WBTC | 0.35% | 0.01% | no change |
| Morpho | WBTC | 0.92% | 0.4% | -0.01 |
| Morpho | WETH | 1.86% | 1.64% | -0.35 |
| Compound | WETH | 1.99% | 1.78% | no change |
| Aave | WETH | 2.14% | 1.48% | +0.03 |
| Morpho | USDT | 3.2% | 2.5% | -0.02 |
| Aave | USDT | 3.27% | 2.21% | +0.07 |
| Compound | USDT | 3.59% | 2.71% | no change |
| Aave | USDC | 3.94% | 3.21% | +0.05 |
| Compound | USDC | 3.94% | 3.16% | -0.01 |
| Morpho | USDC | 4.1% | 3.59% | -0.03 |
| Morpho | PYUSD | 4.1% | 3.65% | -0.24 |
| Aave | DAI | 4.93% | 3.35% | -3.18 |
Biggest movers
Aave · DAI
Borrow fell 3.18 pts to 4.93%
Morpho · WETH
Borrow fell 0.35 pts to 1.86%
Morpho · PYUSD
Borrow fell 0.24 pts to 4.1%
Aave · USDT
Borrow rose 0.07 pts to 3.27%
Aave · USDC
Borrow rose 0.05 pts to 3.94%
- Aave DAI borrow fell 3.18 points week over week to 4.93%.
- Morpho WETH borrow fell 0.35 points week over week to 1.86%.
- Morpho PYUSD borrow fell 0.24 points week over week to 4.1%.
DeFi vs CeFi spread
Avg DeFi stablecoin borrow
3.88%
Avg CeFi borrow floor
7.07%
On-chain DeFi stablecoin borrowing averages 3.88% this week, about 3.19 points cheaper than the typical CeFi floor of 7.07%.
Best deals this week
The lowest-cost way to borrow against each major asset right now. Our picks are driven by the data — affiliate status never moves them.
0.35%
Cheapest tracked way to borrow against WBTC this week is 0.35% on Aave.
Visit AaveRead our Aave review1.86%
Cheapest tracked way to borrow against WETH this week is 1.86% on Morpho.
Visit MorphoRead our Morpho review3.2%
Lowest tracked borrow rate for USDT this week at 3.2% on Morpho.
Visit MorphoRead our Morpho reviewAffiliate disclosure: This page contains affiliate links. We may earn a commission at no cost to you. Rankings are never influenced by affiliate status.
Provider spotlight
Aave gets the spotlight this week because it pairs 4.93% borrowing on DAI with no-KYC access, 80% max LTV, and self-custody control. DeFi-native users wanting trustless, non-custodial borrowing against blue-chip crypto collateral.
Market commentary
On-chain DeFi stablecoin borrowing averages 3.88% this week, about 3.19 points cheaper than the typical CeFi floor of 7.07%.
Stablecoin utilization across the live DeFi pools we track is averaging 84.37%, which still leaves some spare capacity before rate curves steepen materially.
WBTC borrowing remains cheaper than dollar borrowing this week. The lowest large-cap collateral rate we track is 0.35% on Aave, which reinforces the pattern that stablecoin demand is carrying more pricing pressure than BTC and ETH markets.
The sharpest week-over-week move came from Aave on DAI, where borrow APR fell 3.18 points. That is large enough to matter for borrowers running tight LTV buffers or active refinancing strategies.
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