USDT Fluid
About USDT Fluid
USDT Fluid is an autocompounder on Ethereum with USDT as its underlying token, in which the yield is distributed. It earns yield from its underlying lending venue and automatically converts any claimed rewards into more USDT, removing the manual claim and conversion steps a user would otherwise need to perform on their own.
Yield earned by the strategy is added back to the vault on a recurring basis. Autocompounding events run when economically feasible, anywhere from hourly to several days apart, with gas costs socialised across all holders rather than borne by each user individually.
Live since October 2024. Currently indexed at $106 TVL across 1 holder, with a 3.61% 24-hour APY and 6.27% since launch.
Performance Overview
Historical indexer data. Past onchain performance is not a predictive forecast.
Market benchmarking
USDT Felix
HyperEVM9.09%$1#2USDT GauntletHyperEVM8.06%$4#3USDT Felix FrontierHyperEVM7.48%$1#4USDT Fluid
Arbitrum4.76%$78USDT FluidYou are here
Ethereum3.61%$106Among the 10 USDT strategies we currently monitor, this product ranks #5. Its 3.61% yield runs 67.1% higher than the cohort average of 2.16%. On a $1,000 position, that's ~$1.21 per month higher than the cohort average. 4 strategies in the cohort are currently delivering higher APY; 5 are delivering lower. It currently holds $106 in TVL, ranking #2 of 10 by TVL.
Ecosystem context
On Ethereum, this product's yield runs 67.1% higher than the network average across the USDT strategies we monitor. By APY it ranks #1 of 2 in that set. Yields on Ethereum for USDT have averaged 2.16% in our index.
USDT on Ethereum#1 of 2See all 2 USDT strategies on EthereumCurrently the top-yielding USDT opportunity on Ethereum across the 2 products we monitor.
Yield trajectory
Historical indexer data. Past onchain performance is not a predictive forecast.
Strategy stability
Based on APY volatility since launch. Higher scores indicate steadier yields.
Insufficient APY history to score stability for this strategy yet. At least 5 daily observations in the last 30 days are required.
This strategy currently holds $106, below our $50K liquidity mark. Thin liquidity can mean higher slippage on entry and exit, and the headline yield can be skewed by a small number of holders.
Long-term performance
- Share price has compounded at an annualized rate of 8.37% over 243 days, growing from 1.0000 to 1.0550. This represents a gain of ~0.055 USDT per 1 USDT supplied at launch.
Historical statistics
APY
| 21D Low | 5.86% |
|---|---|
| 21D High | 7.33% |
| 21D Average | 6.27% |
| Lifetime avg (243d) | 6.27% |
| Median APY | 5.95% |
| Best day | 7.33% · May 15 |
| Worst day | 5.86% · Jun 5 |
| Volatility | ±0.61% |
| APY range | 1.46pp |
TVL
| Current TVL | $106 |
|---|---|
| Lifetime avg (243d) | $95 |
Historical Data
Last data point: Jun 5, 2025 (1.1y ago). Some on-chain data feeds update at different intervals.
| Date | APY |
|---|---|
| Jun 5, 2025 | 5.86% |
| May 30, 2025 | 6.02% |
| May 23, 2025 | 5.88% |
| May 15, 2025 | 7.33% |
Strategy details
Frequently Asked Questions
What's the current APY for USDT Fluid on Ethereum?
USDT Fluid on Ethereum is showing a 24-hour APY of 3.61%, with an average of 6.27% since launch. Rates are variable and move with market conditions, liquidity, and the underlying protocol's incentives. The figures reflect the realised yield over the trailing window; they are not a forward guarantee.
How does the autocompounding work?
The strategy holds positions in its underlying lending venue and the yield that accrues is added back to the vault on a recurring basis, increasing the value of each holder's share. The process repeats automatically; holders are not required to claim or add anything back themselves. Autocompounding events run when economically feasible, anywhere from hourly to several days apart, with gas costs socialised across all holders.
Can I withdraw at any time?
There are no withdrawal periods or lockups. If the underlying strategy holds enough liquidity to satisfy the request, exits are instant. During periods of liquidity stress in the underlying venue, withdrawal capacity can be limited until liquidity returns. See the risk page for details on how this works.
Where does the yield come from?
Yield is sourced from its underlying lending venue. The income stream is interest paid by the underlying market, added back to the vault on a recurring basis. The rate moves with the underlying venue's utilisation.
How stable has the APY been?
Since launch, this vault's APY has ranged from 5.86% to 7.33%, averaging 6.27%, with measured volatility of ±0.61%. The Strategy stability section above shows where this falls on the scale from very volatile to very consistent.
How much is currently in the vault?
The vault currently holds $106 in TVL across 1 holders. The Historical statistics section above shows how this compares to the vault's range since launch and lifetime peak.
What are the risks?
Like any onchain yield strategy, this vault is exposed to smart contract risk in both the Harvest contracts and its underlying lending venue, market risk in the underlying venue it routes to, and protocol-specific risks of the assets it interacts with. Harvest's core vault infrastructure was audited by Halborn in January 2025. Audits reduce but do not eliminate risk.
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Links
Harvest is an independent onchain yield index. Performance data reflects historical onchain activity and is not a forecast. See the methodology, risk framework, terms, and disclosures for details on how data is calculated and the risks associated with onchain yield strategies.