What interest can I earn by lending stablecoins on Aave, Morpho or Spark right now?
5 DeFi lending markets in our data state a yield. The highest right now is JUP-LEND from Jupiter (protocol) at ~4% (variable). The range runs from 3.60% (SPARK) to 4.00%. Yields are variable and not guaranteed.
Lending a stablecoin into a DeFi market earns the interest borrowers pay. Rates move with demand, sometimes daily; none needs KYC. The risk is the protocol and the collateral behind the loans, not a bank.
Figures from our live dataset · page generated 2026-10-11 · not investment advice
| Token | Issuer | Yield / return | Minimum | KYC to buy | Chain |
|---|---|---|---|---|---|
| JUP-LEND Jupiter Lend (USDC) | Jupiter (protocol) | ~4% (variable) | None | No KYC on a DEX | Solana |
| USDD-JL JustLend USDD (Tron) | JustLend DAO (Tron) | ~4% (variable) | None | No KYC on a DEX | Tron |
| MORPHO Morpho Vaults (USDC) | Morpho (vaults by curators) | ~4-8% (variable, per vault) | None | No KYC on a DEX | Ethereum / Base (+) |
| AAVE-USDC Aave USDC Lending | Aave (protocol) | ~3.8% (variable) | None | No KYC on a DEX | Ethereum (+many L2s) |
| SPARK Spark Savings | Spark (Sky ecosystem) | ~3.6% (variable) | None | No KYC on a DEX | Ethereum / Arbitrum / Base |
Side by side
| JUP-LEND | USDD-JL | MORPHO | AAVE-USDC | SPARK | |
|---|---|---|---|---|---|
| Where the yield comes from | Overcollateralized borrower interest | Borrower interest on Tron | Lending interest across curated markets | Interest from overcollateralized borrowers | Sky savings rate / lending markets |
| Risk (our label) | Medium | Medium-High (ecosystem counterparty) | Medium | Medium | Medium |
| Custody | Self-custody | Self-custody | Self-custody | Self-custody | Self-custody |
| Liquidity | Withdraw any time (pool utilization) | Withdraw any time (pool utilization) | Withdraw any time (subject to vault liquidity) | Withdraw any time (subject to pool utilization) | Withdraw any time |
| KYC to mint with the issuer | No KYC | No KYC | No KYC | No KYC | No KYC |
| KYC to buy on a market | No KYC | No KYC | No KYC | No KYC | No KYC |
| KYC to redeem | Not stated | Not stated | Not stated | Not stated | Not stated |
| Assets under management | ~$450M USDC pool | ~$450M pool | Top-3 DeFi lending protocol | Largest DeFi lending protocol | ~$1B+ across chains |
| Jurisdiction | Decentralized protocol | Decentralized protocol | Decentralized protocol | Decentralized protocol | Decentralized protocol |
| How to buy | Connect a Solana wallet at jup.ag, supply USDC | Tron wallet at justlend.org, supply USDD | Connect a wallet at app.morpho.org, pick a vault | Connect a wallet at app.aave.com, supply USDC | Deposit stablecoins at spark.fi |
How to choose
These rates float with borrowing demand and can halve or double within days, so any ranking is a snapshot. The risk sits in the protocol’s smart contracts and in the collateral behind the loans; larger, older markets have survived more stress. Supplied funds can usually be withdrawn at any time — but only while enough of the pool is not lent out, so at very high utilisation withdrawals can have to wait.
More questions
Where does the yield come from?
JUP-LEND: Overcollateralized borrower interest. USDD-JL: Borrower interest on Tron. MORPHO: Lending interest across curated markets. AAVE-USDC: Interest from overcollateralized borrowers. SPARK: Sky savings rate / lending markets.
Which is the largest?
By size, SPARK at $1.0B, followed by JUP-LEND at $450M and USDD-JL at $450M. Size is not safety, but a larger product usually means a deeper market to sell into.
How risky are they?
JUP-LEND: Medium. USDD-JL: Medium-High (ecosystem counterparty). MORPHO: Medium. AAVE-USDC: Medium. SPARK: Medium. The risk label is ours, in plain language, and is explained on each token page.
Are these yields fixed?
5 of 5 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-07-23 and 2026-08-25.