Advancing
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LoadingSeam Map
A seam is one place capital is currently earning. The map shows all of them at once, sized by what they hold and separated by the source of the money, because a rate without a payer attached is a number with no lifespan.
Bar width is relative to the largest rate in the current view rather than to a fixed ceiling, so a triple digit counterparty vault cannot flatten every real seam into a sliver.
Vault takes the other side of leveraged traders
174.5%
30 day window / 1.71M deep
This one is on the list so it can be labelled, not so it can be recommended. The rate is funded by leveraged traders losing money, and it reverses when they stop.
Concentrated liquidity, fees paid by swappers
21.91%
7 day window / 4.58M deep
Concentrated liquidity, fees paid by swappers
15.46%
7 day window / 6.32M deep
Concentrated liquidity, fees paid by swappers
11.01%
7 day window / 930K deep
Concentrated liquidity, fees paid by swappers
6.67%
7 day window / 214K deep
Two BTC representations against each other, low divergence
4.35%
7 day window / 1.01M deep
Concentrated liquidity, fees paid by swappers
1.54%
7 day window / 2.01M deep
Managed liquidity position, fees paid by swappers
1.23%
7 day window / 2.01M deep
Borrow interest, single sided, no divergence exposure
0.856%
30 day window / 295K deep
Read from the pool index, cross-checked against the liquidity venue and the lending venue
Each one exists because of something specific that went wrong in the data, not as a statement of principle.
The cbBTC-USDC history contains a day reading 74,187 percent, an artefact of a moment when the pool was nearly empty. The seven day figure or the ninety day median is used instead.
The upstream field is null for every one of these pools. Leaving the column blank is honest; filling it with a guess is not.
Putting a 214 percent vault funded by trader losses beside a 15 percent fee seam, in the same shade, is a lie told with a stylesheet.
When a cached aggregate and a venue's own endpoint disagree, one of them is stale, and neither should be shown as settled.
Drift BTC-PERP held 250 BTC of open interest through a week in which every write to it failed. Size is not proof of life.
Putting a price on an unissued point turns emissions into sustainable return with arithmetic.
A venue can report a healthy total and be dead. Nothing is listed here until it can show recent transactions that actually succeeded.
Funding last settled on 2026-04-01T18:00:00Z. Across 2026-08-08 to 2026-08-14 the market account took 200 transactions and every one of them failed. It still reports 250 BTC of open interest.
Excluded until a live perpetual market can be confirmed
104.6 percent supply rate against 10,927 dollars of supply. The rate is real and the capacity is not.
Below the size floor
5.48 million dollars supplied with nothing borrowed against it. A large reserve nobody uses pays zero by construction.
Zero borrow, so zero return