Basis trading protocols

Updated 23 Oct, 19:41 UTC

As of 23 Oct 2026, the 23 basis trading protocols we track hold $7.59B between them, down 1.0% over seven days. Ethena USDe is the largest with $4.60B, 61% of the sector.

Value locked: $7.59B
7 days: −1.0%
Fees per day: $657.6K
Protocols: 23

Share of value locked

Ethena USDe$4.60B
Falcon Finance$1.72B
BitFi Basis$256.3M
Solv Basis Trading$203.7M
Solstice$201.8M
Aster USDF$111.2M
Tori Finance$72.73M
Axis$66.88M

All basis trading protocols

Basis trading protocols ranked by value locked
#	Protocol	Chains	Value locked	24h	7d	Fees/day	Fees / TVL
1	Ethena USDe	Ethereum	$4.60B	−1.1%	−2.0%	$618.1K	4.9%
2	Falcon Finance	Ethereum	$1.72B	−0.1%	0.0%	$6.06K	0.1%
3	BitFi Basis	BNB Chain, Ethereum +5	$256.3M	+0.6%	+11.8%	$25	0.0%
4	Solv Basis Trading	BNB Chain, Arbitrum +2	$203.7M	+0.8%	+1.6%	–	–
5	Solstice	Solana	$201.8M	0.0%	−3.6%	$513	0.1%
6	Aster USDF	BNB Chain	$111.2M	0.0%	−0.4%	–	–
7	Tori Finance	Ethereum	$72.73M	+0.3%	+1.7%	–	–
8	Axis	Ethereum	$66.88M	0.0%	+1.5%	–	–
9	ZEROBASE CeDeFi	BNB Chain, Ethereum +5	$60.91M	0.0%	−0.1%	–	–
10	Unitas USDu	BNB Chain, Solana	$52.18M	−2.1%	−0.8%	$15.43K	10.8%
11	JupUSD	Solana	$42.96M	0.0%	−2.3%	–	–
12	Bitway Earn	BNB Chain	$36.48M	−2.1%	−8.4%	$8.83K	8.8%
13	Aegis YUSD	Ethereum, BNB Chain	$34.39M	0.0%	0.0%	$7.29K	7.7%
14	Manta CeDeFi	Manta	$26.81M	+0.1%	0.0%	–	–
15	JUSD Finance	Ethereum, Arbitrum	$24.99M	+0.1%	+4.6%	–	–
16	Liminal Basis	Hyperliquid L1	$20.86M	+0.2%	−0.1%	–	–
17	Piku Finance	Ethereum	$19.85M	0.0%	−1.9%	$656	1.2%
18	XSY	Base	$12.98M	0.0%	−0.1%	–	–
19	BounceBit Prime	BNB Chain, Ethereum	$11.44M	0.0%	0.0%	–	–
20	Solomon USDv	Solana	$8.83M	0.0%	+6.6%	–	–
21	Resolv USR	Ethereum	$6.22M	−0.2%	−0.3%	–	–
22	Monetrix USDM	Hyperliquid L1	$2.93M	−0.2%	−2.4%	$606	7.5%
23	SoSoValue Basis	Base	$2.93M	0.0%	−0.1%	$74	0.9%