USDC on Aave V4 Ethereum Main

Live USD Coin (USDC) rates on the Aave V4 Main spoke on Ethereum. On V4 every borrower pays the hub's base rate, and a personal risk premium can be added depending on the collateral behind the loan.

Data from Aave's V4 API · updated 2026-11-08 04:27 UTC

Supply APY

4.59%

plus rewards

Base borrow rate

5.61%

before any risk premium

Supplied here

$55.73M

55.74M USDC

Borrowed here

$38.62M

38.63M USDC

Hub utilization

91.4%

Core hub, all spokes

Available to borrow

$5.33M

price $0.9998

USDC supply and borrow rate history

Averages published by Aave's V4 API

Risk settings on this spoke

Can be used as collateral	No
Collateral factor	–
Collateral risk score	0.00%
Max liquidation bonus	–
Liquidation fee	10.00%
Supply cap used	55.74M of 75.00M USDC (74.3%)
Borrow cap used	38.63M of 50.00M USDC (77.3%)

The collateral factor decides how much you can borrow against this asset. The risk score feeds the borrower's risk premium: the safer the collateral, the lower the premium. How V4 works.

Where the liquidity comes from

Hub	Core hub
Supplied across the hub	$61.32M
Borrowed across the hub	$56.04M
Spokes sharing it	5
Liquidity fee	10.00%
USDC token	0xA0b8…eB48
Spoke contract	0x94e7…c485
Hub contract	0xCca8…26c9

USDC utilization and interest rate curve

Hub utilization is 91.4% right now. Set by the Core hub: how the base rate responds as more of the supply gets borrowed.

Base borrow rate Supply rate

Up to 92% utilization the base rate climbs gently from 0.00% to 5.50%. Past that point it climbs steeply, reaching 25.50% when everything is lent out.

About USDC on the Main spoke

USD Coin (USDC) is listed on the Aave V4 Main spoke on Ethereum, which draws its liquidity from the Core hub. On this spoke $55.73M is supplied and $38.62M borrowed, out of $61.32M supplied across the whole hub, shared by 5 spokes. $5.33M is available to borrow.

Suppliers earn 4.59% a year, and borrowers pay the hub's base rate of 5.61% plus a personal risk premium that depends on the collateral behind their loan. The hub is 91.4% borrowed. Up to 92% the base rate rises gently from 0.00% to 5.50%; above that it climbs steeply to 25.50% when everything is lent out.

USDC cannot be used as collateral on this spoke. The best USDC supply rate elsewhere on Aave is 9.47% on Linea. The cheapest place to borrow it is the Arc Main spoke (V4) at 3.42%. Compare USDC rates on every Aave market.

Among the 22 Aave markets with at least $1M of USDC supplied, this one pays the 7th highest supply rate. Its base borrow rate is the 17th lowest of the 25 markets with at least $250K of USDC to lend. A week ago suppliers earned 7.65% and the base borrow rate was 9.15%, with the hub 93.6% lent out. Over the past 30 days, the supply rate ranged from 2.74% to 7.65%, and the base borrow rate from 4.12% to 9.15% (one reading a day).

USDC on Aave V4 Main: quick answers

What is the USDC supply APY on Aave V4 Main?

4.59% a year right now. It is paid out of what borrowers across the Core hub pay and changes with every deposit, loan and repayment.

What does it cost to borrow USDC on Aave V4 Main?

The base borrow rate is 5.61%. On Aave V4 each borrower also pays a risk premium on top, set by the collateral behind their loan, so the rate you pay can be higher.

Can I use USDC as collateral on Aave V4 Main?

No, USDC is not accepted as collateral on this spoke, although it can be supplied to earn interest.

Where else can I supply or borrow USDC on Aave?

The best supply rate is 9.47% on Linea. The cheapest borrow rate is 3.42% on the Arc Main spoke (V4). Only markets with real liquidity are counted.

USDC elsewhere on Aave

V3 markets and other V4 spokes

USDC rates on every Aave market →

Market	Total supplied	Supply APY	Total borrowed	Borrow APY	Utilization
Ethereum CoreUSDC · $2.85B	$2.85B2.85B USDC	3.58%	$2.57B2.57B USDC	4.42%	90.4%
ArbitrumUSDC · $204.6M	$204.6M204.66M USDC	2.90%	$167.0M166.99M USDC	3.98%	81.6%
BaseUSDC · $196.6M	$196.6M196.68M USDC	5.13%	$179.6M179.64M USDC	6.27%	91.3%
Arc MainV4USDC · $124.6M	$124.6M124.59M USDC	2.48%	$49.10M49.11M USDC	3.42%base rate	73.9%
MonadUSDC · $121.4M	$121.4M121.42M USDC	4.39%	$111.8M111.80M USDC	5.33%	92.1%
AvalancheUSDC · $67.35M	$67.35M67.36M USDC	4.65%	$61.31M61.32M USDC	5.70%	91.0%
InkUSDC · $65.49M	$65.49M65.51M USDC	4.29%	$48.52M48.53M USDC	6.50%	74.1%
PolygonUSDC · $25.84M	$25.84M25.85M USDC	3.75%	$17.53M17.53M USDC	7.02%	67.8%