What are the best DeFi yields?

"Best DeFi yields" really means where to put capital to earn — and the closest real, market-wide comparison I can pull is lending protocols (the biggest yield-generating category), ranked by daily fee revenue per DefiLlama. Trading volume isn't shown here — DefiLlama's derivatives/perps volume data requires a paid plan, so fees and revenue are the closest free proxy for usage.

Top lending protocols by daily fee revenue (per DefiLlama):

1. Aave V3 — the largest, multi-chain lending market (Ethereum, Base, Arbitrum, Polygon, Avalanche, and many more). ~$17.4B TVL, ~$1.1M/day fees, ~$143K/day protocol revenue. Aave
2. Morpho Blue — permissionless lending primitive with vault-style markets, extremely broad chain coverage. ~$9.5B TVL, ~$605K/day fees, ~$0 protocol revenue (fees go to LPs/vault managers). Morpho
3. SparkLend — stablecoin lending market with governance-defined (non-utilization-driven) rates. ~$4.6B TVL, ~$169K/day fees. Spark
4. Maple — institutional capital marketplace on Ethereum and Solana. ~$2.9B TVL, ~$360K/day fees, ~$60K/day revenue. Maple
5. Kamino Lend — Solana's peer-to-pool lending primitive. ~$1.2B TVL, ~$192K/day fees. Kamino
6. Fluid Lending — Instadapp's DeFi lending stack on Ethereum/Arbitrum/Base. ~$748M TVL, ~$116K/day fees. Fluid

A couple of notes on reading this:

• Fees ≠ revenue. Fees are the total paid by users; revenue is the protocol's own cut (the rest goes to liquidity providers and stakers). Morpho Blue shows the extreme case — high fees, ~zero protocol revenue — because it's a thin primitive that passes nearly everything to vault managers.
• Highest fees ≠ highest yield for you. Fee revenue reflects how busy a protocol is, not the APY on your deposit. Actual yields are set by supply/demand per asset and change constantly, so the "best yield" for you depends on which asset you're supplying and on that asset's current utilization. Stablecoins on any of these typically earn a modest single-digit APY; riskier/borrowed assets earn more.

If you tell me which asset you'd want to supply (e.g. USDC, ETH) and whether you're on Ethereum or Solana, I can narrow down which of these would actually be earning the most right now — and I can pull current prices/trending coins if you want to compare yield opportunities against just holding.

One honest caveat: "best yield" opportunities that pay well above these lending rates usually come with real risks — impermanent loss in LPs, price volatility on volatile collateral, or smart-contract and rug risk on newer farms. I'd treat anything promising outsized APY as higher-risk by definition, not a free lunch.

Also tracked: FomoDownload App, LighterTrade Now, AsterTrade Now, GMTradeTrade Now, edgeXTrade Now, GMXTrade Now.