Yield-bearing stablecoins trade around a fair redemption value their ERC-4626 vaults publish on-chain. When the market lags that value, there's a spread. Arbitrage Screener reads the fair value straight from the vault, compares it to what you'd pay right now, and turns the gap into an APY — every figure denominated in the underlying stablecoin, so no dollar oracle and no soft-peg noise.
Pull a real on-chain buy quote for the wrapped token at a ~$10k notional through DEX aggregators, so slippage is priced in — not a mid-price fantasy.
Call convertToAssets / previewRedeem on the vault to get what one share redeems for in the underlying stablecoin, live from state.
Subtract buy from fair value. Everything stays in underlying units, so a de-pegged crvUSD or DOLA never distorts the math the way a USD oracle would.
Divide the spread across each protocol's real redemption window — instant, a cooldown, or a queue — to express the opportunity as a comparable APY.
Buy a yield-bearing stablecoin below the fair value its vault will redeem at, and read the gap as an APY. Priced end-to-end in the underlying token, across every supported chain.
Buy a stablecoin cheap in USDC on one chain, sell it for USDC on another, and pocket the difference. Bridge cost and time are assumed zero — not modeled.
| Asset | Buy | Fair value | Spread | Redeem | APY |
|---|---|---|---|---|---|
| savUSD Avant | 1.04553 | 1.04720 | +0.16% | 1d | 58.4% |
| sUSDe Ethena | 1.16418 | 1.16977 | +0.48% | 7d | 25.0% |
| sUSDat Saturn | 0.99714 | 1.00430 | +0.72% | 14d | 18.8% |
| apyUSD Apyx | 1.03118 | 1.03578 | +0.45% | 20d | 8.2% |
| sDOLA Inverse | 1.09184 | 1.09312 | +0.12% | T+0 | instant |
| sUSDS Sky | 1.05627 | 1.05699 | +0.07% | T+0 | instant |
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