swETH: redemption value, spread and APY
swETH is Swell's liquid-staking token for ETH. ArbScreener compares what swETH 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 | About 12 days | 0xf951E335afb289353dc249e82926178EaC7DEd78 |
Verify any address against the protocol's own documentation before using it.
Live status
| Chain | Spread | APY | Redeem time | Enter | Exit |
|---|---|---|---|---|---|
| Ethereum | +0.10% | 2.9% | About 12 days | Buy on a DEX | Redeem via the protocol |
As of 20:42 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 swETH
The ETH value of one swETH is swETH x getRate() / 1e18, where getRate() is the contract's ETH/swETH ratio.
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 and redeem: https://app.swellnetwork.io/stake/sweth
Questions
What is swETH?
swETH is Swell's liquid-staking token for ETH.
How does ArbScreener value swETH?
The ETH value of one swETH is swETH x getRate() / 1e18, where getRate() is the contract's ETH/swETH ratio.
How long does it take to redeem swETH?
Ethereum: about 12 days. The wait is priced into the APY, so a slow redemption needs a bigger discount to rank high.
What does the swETH 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.
Other tokens on this board
stETH · wstETH · rETH · weETH · ezETH · rsETH · oETH · superOETHb · all tracked tokens