Take control of your interest rate.
DeFi borrowing rates can change with every block. Get a fixed-rate loan on Aave, find yields above your fixed cost, or trade where rates go next.
Fixed-rate loans
Fixed-rate borrowing on Aave.
Borrow USDC or USDT against your crypto at one rate for 30, 60 or 90 days, within a protected range.
It's an ordinary Aave V3 loan in your name, with a Kairos swap beside it that fixes the rate. One transaction supplies your collateral, opens the loan and locks the rate. When the term ends, the swap settles to your wallet and the loan carries on at Aave's variable rate.
- Borrow
- USDC or USDT
- Term
- 30, 60 or 90 days
- Collateral
- ETH, WETH, wstETH, WBTC or cbBTC
- Where
- Aave V3 on Ethereum
Illustration, not real rates.
Your loan stays on Aave.
Collateral and debt sit in your own Aave V3 account, and the Kairos swap that fixes the rate is held in your name too.
One all-in rate for the term.
Your quote includes every fee. The swap's cost is added to the loan, so the whole debt is at the fixed rate.
The protected range, before you sign.
Your rate holds while Aave's average rate over the term stays inside it. Outside it, the swap closes early and the loan carries on at Aave's variable rate.
Fixed within a protected range. After the term, or if the swap closes early, your loan continues at Aave's variable rate. The swap can be liquidated; the most you can lose on it is its cost (collateral, liquidation bounty and protocol fee), which is added to your loan. Your Aave loan can be liquidated if your collateral's value falls. Some wallets and tokens need a one-time approval before you open the loan. Aave V3 USDC and USDT on Ethereum.
Carry trades
Fix your borrowing cost. Find yields that beat it.
A live screen of dollar yields that clear today's Kairos fixed borrowing cost, fee included. Anything that doesn't clear it isn't listed.
The screen covers savings rates, tokenized T-bills, private credit, synthetic dollars, fixed-yield tokens and more. Your borrowing cost holds within a protected range.
Example
Illustrative, not a current quoteA 7.10% yield on a dollar asset bought elsewhere, less a 4.80% Kairos fixed borrowing cost (fee included), is +2.30% a year of carry: ≈ +$57 on $10,000 borrowed for 90 days.
On Aave
Borrow
Borrow a stablecoin on Aave, or use a loan you already hold there.
On Kairos
Fix the borrowing cost
A Kairos swap locks that borrow rate for up to 90 days, within a protected range.
Elsewhere
Buy the yield
Pick a yield that beats your fixed cost and buy the asset outside Kairos. Its yield and risks stay with it.
Kairos fixes the borrow side only. You borrow on Aave and buy the yield asset elsewhere; its yield and risks are its own, and some assets are open only to verified or non-U.S. investors. Some yields may be fixed while others are variable. Carry is annualised on the amount borrowed, base yield only. Spreads can shrink or turn negative.
Predict
Think rates will move? Call the direction.
Pick Up if you expect Aave's USDC or USDT borrow rate to average higher over the term, Down if lower.
Each market quotes a break-even rate for each side. Up profits if the rate averages above Up's break-even; Down profits if it averages below Down's. Between the two, both sides lose to fees. Gains are capped, and the most you can lose is what you transfer when opening the position.
- Rate
- Aave V3 USDC or USDT borrow rate
- Terms
- From 1 to 90 days
- Settles on
- The average over the term
- Network
- Ethereum
What counts is the average over the whole term, not where it ends.
Leveraged positions can be liquidated before expiry, and you can lose everything you post. Not available to U.S. persons or in other restricted regions.
Built for Every Strategy
Speculate on Rate Movements
Go long or short on any rate with leverage. If you think lending rates are going up, take a position and profit from the move.
Hedge Fixed-Rate Lending
Offer fixed-rate loans on protocols like Morpho V2 and use Kairos to capture the upside if rates later rise.
Lock In Predictable Yield
Convert variable lending income to a fixed rate. Know exactly what you'll earn regardless of market conditions.
Markets
Today's rates
Every rate Kairos fixes, the terms on offer, and today's fixed rate for each.
Ethereum mainnet
Fixed: from, on $10k, before protocol fee; a simple annual rate. *Variable now: the rate each market tracks, as an APR averaged over a recent window of its onchain index. Fixed rates as of 00:00 UTC.
Rather take the other side? Earn as a liquidity provider
Risks, up front
Know the worst case before you sign.
What you're relying on, in plain words.
Your maximum loss comes first.
Before you sign, every quote shows the swap's full cost: collateral, liquidation bounty and protocol fee. That total is the most you can lose on the swap.
Settlement reads Aave directly.
A swap settles on how much Aave V3's variable-borrow index grows between entry and expiry. The fixed quote starts from a trailing average of that same index.
Someone takes the other side.
A pool of liquidity providers backs every swap. That backing is finite, which is why a fixed rate holds within a range and gains are capped. On Up and Down, you can see your max profit before opening a position.
Positions are recorded onchain in your name, and you can optionally wrap one as a transferable ERC-721 NFT.
Swaps 101
New to rate swaps? Start with Swaps 101.
How a fixed rate is built, who takes the other side, what can go wrong, and how each product works.
Your rate, your call.
Not available to U.S. persons, including U.S.-organised entities.
Looking for the Base beta? Go here
Rates shown are indicative and exclude the protocol fee unless stated. Fixed rates hold within a protected range. Leveraged positions can be liquidated, and you can lose the collateral, liquidation bounty and protocol fee you post. Not available to U.S. persons or in other restricted regions. Not investment advice. See the Terms.