Delta-Neutral Yield Stablecoins

6 coins · total supply $5.50B

Coins in category
6
Total USD value
$5.50B
Largest coin
USDe

About Delta-Neutral stablecoins

Delta-neutral stablecoins hedge crypto collateral (typically ETH or BTC) with equal-and-opposite perpetual futures shorts, capturing funding-rate yield while remaining dollar-neutral. Ethena's USDe pioneered the design at scale; Falcon USDf and Noble NUSD followed.

Delta-Neutral coins ranked by USD circulation

USDe #1
Ethena USDe $3.92B
USDf #2
Falcon USD $1.26B
avUSD #3
Avant USD $124.4M
USDF #4
Astherus $112.3M
NUSD #5
Neutrl USD $54.5M
YUSD #6
Aegis YUSD $35.8M
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Data sourced from DefiLlama. Part of the Stablecoin Dashboard by mttjon. As of 2026-08-09 · updated daily 00:00 UTC.