btc-eur
BTC collateral, EUR borrowed
As of 2026-09-04 · weighting: borrow by borrowed_usd, lend by supplied_usd; spread computed per pool-day then weighted, never as the difference of the two aggregates
The tenor is an averaging window, not a maturity. The tenor is an AVERAGING WINDOW, not a maturity. Every constituent pool is open-term floating and no borrower agreed a term, so a rising curve means rates were higher further back — not a term premium.
Denominations are different products. btc and usd are different products and are never aggregated (v2 V2). btc = the borrower receives bitcoin; usd = a stablecoin is borrowed against bitcoin collateral.
On the collateral side. The curve keys its series by denomination, not by collateral, so this page cannot filter to BTC-collateralised pools — instead each point carries a collateral_coverage split showing how much of the book behind it is BTC, other, or mixed pooled. Where the mixed share is large the rate is not a BTC-collateral rate, and reading it as one would be the error this note exists to prevent.
| Window (days) | Borrow | Lend | Spread | Pools | Venues | Debt | Supplied |
|---|---|---|---|---|---|---|---|
| 7 | 3.916% | 2.336% | 1.681% | 30 | 14 | $66m | $78m |
| 14 | 3.778% | 2.243% | 1.673% | 30 | 14 | $67m | $79m |
| 30 | 3.916% | 2.381% | 1.644% | 30 | 14 | $69m | $78m |
| 60 | 3.969% | 2.406% | 1.665% | 30 | 14 | $69m | $78m |
| 90 | 3.811% | 2.242% | 1.675% | 30 | 14 | $70m | $81m |
| 180 | 3.779% | 2.180% | 1.706% | 30 | 14 | $78m | $92m |
| 365 | 4.202% | 2.519% | 1.747% | 30 | 14 | $87m | $106m |
| 730 | 4.573% | 2.750% | 1.812% | 30 | 14 | $56m | $69m |
Collateral coverage per window
| Window | BTC | Other | Mixed pooled |
|---|---|---|---|
| 7 | $10m | $9m | $48m |
| 14 | $10m | $9m | $48m |
| 30 | $10m | $8m | $51m |
| 60 | $10m | $8m | $52m |
| 90 | $10m | $8m | $52m |
| 180 | $13m | $8m | $57m |
| 365 | $12m | $8m | $66m |
| 730 | $7m | $6m | $43m |