sUSDS: redemption value, spread and APY
sUSDS is the savings token of USDS, the stablecoin of Sky (formerly Maker). ArbScreener compares what sUSDS costs on a DEX with the USDS it redeems for on-chain, and shows the gap as a spread and an APY — priced in USDS, not USD.
Redemption at a glance
| Chain | Redeems into | Redeem time | Token address |
|---|---|---|---|
| Ethereum | USDS | Instant | 0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD |
Verify any address against the protocol's own documentation before using it.
Live status
| Chain | Spread | APY | Redeem time | Enter | Exit |
|---|---|---|---|---|---|
| Ethereum | +0.00% | 0.0% | Instant | Mint via the protocol | Redeem via the protocol |
As of 20:44 UTC; 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 sUSDS
sUSDS is an ERC-4626 vault share. ArbScreener asks the vault contract how much USDS one share redeems for (convertToAssets, with previewRedeem as a fallback), so the redemption value comes from the contract itself and not from a price feed.
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 USDS, never USD.
The board's full method is in the EVM YBS & Stablecoins guide.
Official links
- Mint and redeem: https://app.spark.fi/savings/mainnet/susds
Questions
What is sUSDS?
sUSDS is the savings token of USDS, the stablecoin of Sky (formerly Maker).
How does ArbScreener value sUSDS?
sUSDS is an ERC-4626 vault share. ArbScreener asks the vault contract how much USDS one share redeems for (convertToAssets, with previewRedeem as a fallback), so the redemption value comes from the contract itself and not from a price feed.
How long does it take to redeem sUSDS?
Ethereum: instant. The wait is priced into the APY, so a slow redemption needs a bigger discount to rank high.
What does the sUSDS 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 USDS, 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.
Other tokens on this board
sUSDe · syzUSD · sfrxUSD · scrvUSD · sDOLA · fxSAVE · sUSDai · USDai · all tracked tokens