Stablecoin vs. Treasury Yields

Same basis: everything as APY

Each source quotes yield differently, so every rate is converted to an annual percentage yield (APY, which includes compounding) before comparing.

• T-bills (4–26 week): Treasury publishes a coupon-equivalent yield y. APY = (1 + y × d/365)^(365/d) − 1, where d is the bill's term in days.
• 52-week T-bill: APY = (1 + y/2)² − 1.
• Money-market funds: the 7-day yield is a simple annual rate. APY = (1 + y/365)^365 − 1.
• Savings, exchange rewards, DeFi pools: already quoted as APY.

After tax

After-tax APY = APY × (1 − federal − state × taxable share).

• T-bill interest is exempt from state and local income tax.
• Money-market income is exempt only for the share you enter.
• Savings, exchange rewards, and DeFi yield are taxed as ordinary income at both levels.

This leaves out the state-and-local tax deduction cap, the net investment income tax, and any gains or losses on reward tokens.

Earnings

Earned = amount × ((1 + after-tax APY)^(months/12) − 1). It assumes the rate holds and T-bills are rolled at the same yield. Real rates change, often weekly for DeFi.

Data

T-bill yields come from the U.S. Treasury's daily bill rates. Stablecoin rates and pool sizes come from DefiLlama's yields API. Both are fetched live in your browser. If either can't be reached, the page uses a saved snapshot and says so at the top.