Stablecoin yield report: November 2026 edition
What DeFi paid to hold dollar stablecoins, measured across every recognised stablecoin pool with at least $1M deposited. Every figure on this page comes from one export of the web3juice catalogue, retrieved on 2 November 2026 at 21:40 UTC.
This is the November 2026 edition, a fixed record that is not updated. It is currently the latest edition, also shown at /stablecoin-yield-report.
What did DeFi stablecoin pools pay in November 2026?
- The typical large stablecoin pool paid 4.58%. Weighted by the money in each pool, the average was 4.39%, across 27 chains, 84 protocols and about $14.5B of deposits.
- 302 of the 360 pools (84%) paid under 8%, and 11 (3.1%) paid 20% or more.
- Single-stablecoin pools paid more than stablecoin-to-stablecoin pairs: a median of 4.98% across 302 single-asset pools, against 0.97% across 58 pairs.
- USDC had the most large single-asset pools: 177, with a median APY of 5.74%. USDT followed with 35 pools at 5.08%.
- Pools of $1M to $10M had a median of 4.92%, more than the 3.96% of pools over $100M.
- Of the 145 pools whose data splits base and reward APY, 95 (66%) paid some rewards and 36 (25%) got more than half their APY from them.
- 9 of the 14 sUSDe pools of $1M or more reported a 0% APY. sUSDe’s own yield builds up in its price, so a pool that holds it as collateral has little or nothing of its own to pay.
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns.
How did stablecoin yields change since October 2026?
The same measurements in the previous edition, retrieved 15 October 2026, and in this one, retrieved 2 November 2026. Each is a single moment, so a change shows where rates stood on two days, not a monthly average.
| Measure | 15 October 2026 | 2 November 2026 | Change |
|---|---|---|---|
| Median APY | 4.19% | 4.58% | +0.39 pts |
| 25th percentile | 2.57% | 2.74% | +0.17 pts |
| 75th percentile | 6.17% | 6.66% | +0.49 pts |
| Deposit-weighted average | 4.20% | 4.39% | +0.19 pts |
| Single-asset median | 4.41% | 4.98% | +0.57 pts |
| Stablecoin-pair median | 2.30% | 0.97% | −1.33 pts |
| Pools of $1M or more | 335 | 360 | +25 |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns. Previous edition retrieved 2026-10-15 at 18:15 UTC: October 2026 edition.
How were stablecoin APYs spread?
| APY band | Pools | Share |
|---|---|---|
| Under 3% | 102 | 28.3% |
| 3% to 5% | 93 | 25.8% |
| 5% to 8% | 107 | 29.7% |
| 8% to 12% | 32 | 8.9% |
| 12% to 20% | 15 | 4.2% |
| 20% or more | 11 | 3.1% |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns.
Which stablecoins paid the most?
Single-asset pools only, so each row is one coin on its own: lending markets, savings vaults and staking pools. Coins with fewer than three pools of $1M or more are left out.
| Coin | Pools ($1M+) | Median APY | Middle half | Deposits | Chains |
|---|---|---|---|---|---|
| USDC | 177 | 5.74% | 4.08% to 7.61% | $5.9B | 23 |
| USDT | 35 | 5.08% | 3.46% to 6.82% | $1.9B | 10 |
| crvUSD | 28 | 3.74% | 2.87% to 4.91% | $197M | 1 |
| USDe | 13 | 0.25% | 0.00% to 5.00% | $1.9B | 9 |
| USDG | 12 | 4.97% | 3.54% to 5.79% | $824M | 3 |
| PYUSD | 10 | 4.02% | 3.08% to 5.68% | $573M | 2 |
| USDS | 9 | 3.86% | 3.80% to 5.01% | $1.7B | 4 |
| DAI | 4 | 3.03% | 2.20% to 3.20% | $109M | 2 |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns. “Middle half” is the 25th to 75th percentile.
Which chains paid more on stablecoins?
| Chain | Pools ($1M+) | Median APY | Deposits |
|---|---|---|---|
| Ethereum | 168 | 4.38% | $9.1B |
| Solana | 62 | 4.77% | $1.4B |
| Base | 22 | 5.19% | $601M |
| Arbitrum | 17 | 3.09% | $614M |
| BSC | 15 | 5.77% | $232M |
| Monad | 14 | 9.75% | $247M |
| OP Mainnet | 12 | 4.10% | $25M |
| Avalanche | 7 | 5.91% | $329M |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns. The 8 chains with the most pools of $1M or more.
Ethereum held 168 of the 360 pools and $9.1B of the $14.5B deposited. Chain medians differ partly because some chains fund incentive programmes to attract deposits, so check what pays a rate before comparing chains on it.
Do larger stablecoin pools pay less?
| Pool size (TVL) | Pools | Median APY |
|---|---|---|
| $1M to $10M | 233 | 4.92% |
| $10M to $100M | 97 | 4.01% |
| Over $100M | 30 | 3.96% |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns.
Size alone says little about risk in either direction, but a small pool’s rate moves more as deposits come and go. See yield-bearing stablecoins for why some of the largest pools report almost nothing.
How much stablecoin yield came from reward tokens?
A pool’s APY can be base interest (paid by borrowers or trading fees) plus rewards (extra tokens, often from an incentive programme that can end). Only 145 of the 360 pools reported the two parts separately, so this table covers those pools only.
| Measure | Value |
|---|---|
| Pools reporting base and reward APY separately | 145 |
| Paid some rewards | 95 |
| Got more than half their APY from rewards | 36 |
| Median base APY | 3.61% |
| Median reward APY | 0.74% |
Source: web3juice catalogue of public DeFi pool data, retrieved 2026-11-02 at 21:40 UTC. Pools with at least $1M TVL. APYs are as reported at that time, change constantly and are not a promise of returns. The two medians are taken separately, so they do not add up to the median total APY.
How was this report measured?
- Data and timing. One export of the web3juice catalogue: 15,908 pools across 105 chains and 510 protocols, collected from public DeFi data feeds and retrieved on 2 November 2026 at 21:40 UTC. Every row in the export carried that same retrieval time. The feeds’ own observation times are not part of the export, so a figure may be older than the retrieval time by up to one feed refresh.
- Pool selection. Active pools whose every asset carries one of 19 recognised stablecoin labels: 1,192 pools, of which 920 hold a single stablecoin and 272 pair two. Of these, the 360 with at least $1M of total value locked (TVL) are the report’s pools.
- What is left out. 832 stablecoin pools under $1M, and none without a reported APY or TVL. Pools with any non-stablecoin asset are outside the filter. Yield-bearing tokens (sUSDS, sUSDe, sDAI, syrupUSDC, USDY) are not counted as stablecoins and appear only in the finding about sUSDe. 20 of the 360 pools reported a 0% APY and are included.
- APY. The total annual yield each pool reported at that moment, including reward tokens where reported. It is not a forecast and not a realised return.
- Base and reward APY. Counted only where a pool reports both parts (145 pools). A blank reward figure is treated as “not reported”, not as zero. A pool “paid some rewards” if its reward APY was above zero.
- Medians and percentiles. Each pool counts once, whatever its size. Percentiles interpolate linearly between ranked pool APYs. The deposit-weighted average weights each pool by its TVL. Coin rows use single-asset pools of that coin only; chain rows show the 8 chains with the most pools.
- Known limits. One moment, not a monthly average. Stablecoin labels are not a check of token contracts or pegs. APYs are as the feeds reported them and are not independently verified. Nothing here assesses a pool’s risk.
- Editions. Each monthly edition is generated the same way from that day’s export, keeps its own address and is not changed after it goes live.
Want the pools behind these numbers? Search and filter them in the explorer. Weighing a rate? Try the APY calculator.
How to cite this report
web3juice, “Stablecoin yield report, November 2026 edition”, data retrieved 2 November 2026 at 21:40 UTC, https://web3juice.com/stablecoin-yield-report/2026-11.
Please quote figures with their retrieval date. Nothing in this report is financial advice.
All editions
- November 2026 edition, retrieved 2 November 2026: 360 pools, median APY 4.58%.
- October 2026 edition, retrieved 15 October 2026: 335 pools, median APY 4.19%.
Stablecoin yield report FAQ
What was the average stablecoin yield in November 2026?
On 2 November 2026, the median APY across 360 DeFi stablecoin pools holding at least $1M was 4.58%, and the deposit-weighted average was 4.39%. Rates change daily; the stablecoin explorer shows the latest figures.
Why do some stablecoin pools show a 0% APY?
Most are pools that hold a yield-bearing stablecoin such as sUSDe or sUSDS as collateral. The token earns by rising in value against the dollar, so the pool itself has little or nothing to pay out, and its reported APY is near zero even though holders still receive the token’s own yield.
Where does this data come from?
From the web3juice catalogue of 15,908 DeFi pools, collected from public DeFi data feeds and retrieved at 21:40 UTC on 2 November 2026. Only aggregates are published here; individual pools are in the explorer.
How often is this report updated?
A new edition is added each month. Every edition keeps its own fixed address and is not changed after it goes live, so a figure quoted from one edition can always be checked against it.
Get the next move as it happens
This report is a monthly snapshot. A free account watches the pools you care about and alerts you when an APY or TVL crosses your line.
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