frxETH: redemption value, spread and APY
frxETH is Frax Finance's liquid-staking token, pegged 1:1 to ETH. ArbScreener compares what frxETH costs on a DEX with the ETH it redeems for on-chain, and shows the gap as a spread and an APY — priced in ETH, not USD.
Redemption at a glance
| Chain | Redeems into | Redeem time | Token address |
|---|---|---|---|
| Ethereum | ETH | Instant | 0x5E8422345238F34275888049021821E8E08CAa1f |
Verify any address against the protocol's own documentation before using it.
Live status
| Chain | Spread | APY | Redeem time | Enter | Exit |
|---|---|---|---|---|---|
| Ethereum | +0.19% | 2.4% | About 29.99 days | Buy on a DEX | Redeem via the protocol |
As of 20:42 UTC (2 min ago); refreshed while the board is in use. A positive spread means redeeming returns more than buying costs. Gross estimates, not advice. The exact size of each verdict, a quote at your own position size and Telegram alerts are on Pro.
How ArbScreener prices frxETH
frxETH is pegged 1:1 to ETH and redeems through Frax's redemption queue; the queue length is read live from the contract.
The redemption spread is what redeeming returns minus what buying costs on a DEX, as a fraction of the cost, at a standard quote size and net of the protocol's fee. The APY annualizes that spread over the redeem wait (counted as at least one day), so a discount that takes weeks to collect ranks below the same discount collected today. Everything is in ETH, never USD.
The board's full method is in the Ethereum LSTs guide.
Official links
- Mint / stake: https://app.frax.finance/frxeth/mint
- Redeem: https://app.frax.finance/frxeth/redeem
Questions
What is frxETH?
frxETH is Frax Finance's liquid-staking token, pegged 1:1 to ETH.
How does ArbScreener value frxETH?
frxETH is pegged 1:1 to ETH and redeems through Frax's redemption queue; the queue length is read live from the contract.
How long does it take to redeem frxETH?
Ethereum: instant. The wait is priced into the APY, so a slow redemption needs a bigger discount to rank high.
What does the frxETH redemption spread mean?
The redemption spread is what redeeming returns minus what buying costs on a DEX, as a fraction of the cost, at a standard quote size and net of the protocol's fee. The APY annualizes that spread over the redeem wait (counted as at least one day), so a discount that takes weeks to collect ranks below the same discount collected today. Everything is in ETH, never USD.
Risks
These are gross estimates for research, not financial advice. They do not include gas, bridge fees, slippage beyond the quote, or smart-contract and depeg risk, and a redemption value can move during the wait. ArbScreener is read-only and never signs, routes or custodies anything. See the Terms of Service.
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