USDp: redemption value, spread and APY
USDp is Parallel Protocol's stablecoin. ArbScreener compares what USDp costs on a DEX with the sUSDe it redeems for on-chain, and shows the gap as a spread and an APY — priced in sUSDe, not USD.
Redemption at a glance
| Chain | Redeems into | Redeem time | Token address |
|---|---|---|---|
| HyperEVM | sUSDe | Instant | 0xBE65F0F410A72BeC163dC65d46c83699e957D588 |
| Ethereum | sfrxUSD | Instant | 0x9B3a8f7CEC208e247d97dEE13313690977e24459 |
| Base | sUSDS | Instant | 0x76A9A0062ec6712b99B4f63bD2b4270185759dd5 |
Verify any address against the protocol's own documentation before using it.
Live status
| Chain | Spread | APY | Redeem time | Enter | Exit |
|---|---|---|---|---|---|
| Base | -0.07% | -579.2% | Instant | Buy on a DEX | Sell on a DEX |
| Ethereum | -0.22% | -1954.7% | Instant | Buy on a DEX | Sell on a DEX |
| HyperEVM | -98.32% | -860619.2% | Instant | Buy on a DEX | Sell on a DEX |
As of 20:40 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 USDp
USDp does not redeem into one fixed token at a fixed rate: the payout is split across whichever collateral currently backs the protocol. ArbScreener simulates the real redemption at the trade size with the Parallelizer's Swapper.quoteIn, the same call Parallel's own app uses.
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 sUSDe, never USD.
The board's full method is in the EVM YBS & Stablecoins guide.
Official links
- Mint and redeem: https://app.parallel.best/mint
Questions
What is USDp?
USDp is Parallel Protocol's stablecoin.
How does ArbScreener value USDp?
USDp does not redeem into one fixed token at a fixed rate: the payout is split across whichever collateral currently backs the protocol. ArbScreener simulates the real redemption at the trade size with the Parallelizer's Swapper.quoteIn, the same call Parallel's own app uses.
How long does it take to redeem USDp?
HyperEVM, Ethereum, Base: instant. The wait is priced into the APY, so a slow redemption needs a bigger discount to rank high.
What does the USDp 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 sUSDe, 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 · sUSDS · fxSAVE · sUSDai · all tracked tokens