Fixed rate
Fix the rate on your Aave V3 USDC or USDT loan, within a protected range. No refinancing, no migration.
One rate for the term.
Within a protected range.
Your loan stays put.
Fix the rate on your Aave V3 USDC or USDT loan, within a protected range. No refinancing, no migration.
Rates shown are estimates at the time of quoting and are not guaranteed. The fixed rate holds only while Aave's rate averages inside the protected range; outside it the swap closes early (below it, you forfeit the swap's collateral) and your loan continues at the variable rate.
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How it works
Your loan stays where it is
For USDC and USDT loans on Aave V3, on Ethereum. Your loan stays there and we never touch it. You buy a swap on Aave V3's variable borrow rate, the same rate your loan accrues, funded by a separate USDC or USDT deposit from your wallet.
The swap offsets your interest
The swap pays you the variable rate, cancelling out your loan's interest, while you pay one fixed rate. Your effective borrowing cost is set on day one, while Aave's rate averages inside the protected range shown with your quote.
Settle at expiry
At the end of the term the payments are netted and your collateral and bounty come back, plus any gain if Aave's rate averaged above your fixed rate (up to the top of the protected range), or minus any loss if it averaged below. Max loss: the collateral, liquidation bounty and protocol fee you post.
What a rate spike costs you
Variable rates follow pool utilization. When a lending pool runs dry, rates can jump several times over in a day, and every borrower in the pool pays it.
Interest on 100,000 (example)
Enter a loan balance in the rate lock above to price these scenarios with live rates.
Illustrative: simple interest over one term, excluding the protocol fee. The premium row is what the lock costs if rates stay calm โ the price of the protection.
Case study ยท April 2026
The Aave USDC squeeze
After the KelpDAO rsETH bridge exploit, withdrawals drove Aave's USDC pool to nearly 100% utilization. Borrow rates hit their ~14% ceiling within days, and a governance proposal followed to raise the ceiling toward 40โ50% to pull in new deposits.
A 5% lock on the 30-day market covers a rise up to the top of its protected range, roughly 7.5%. Above that the swap pays out its maximum, about $2,000, and closes early, and the loan pays the variable rate for the rest of the month. Figures are illustrative and exclude the protocol fee.
Borrowing to earn?
See yields that currently beat today's fixed cost. Your borrow cost is locked within a protected range; the yield usually isn't.