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Assets
What the vaults we track are holding, and which way they lean. Concentration shown is a floor.Note 5
Composition
What depositors actually put in
- USDC
- $5.40B46%
- RLUSD
- $837.81M7.1%
- weETH
- $748.43M6.3%
- 152 other assets
- $4.82B41%
Read from the token itself where we can, rather than from the venue's label: a venue sometimes names the share token, which would report a vault as denominated in itself.
How this figure was arrived at
- Metric
- asset-mix
- Population
- vaults_valuedOpen vaults we can put a size on, which is the denominator behind every capital total here. A vault whose underlying we cannot price is published unvalued rather than estimated; one we read as holding nothing is valued at zero, which is a reading rather than a gap.
- Denominator
- 11,798,284,293.815 USD · 100.0% of it
- Source
- Computed here from figures this platform already holds.
- Grade
- B
- Read at
- 2026-10-25 16:08 UTC
- Methodology
- aspern-0.3
- Snapshot
- cmvo0utbc0239j7z9kztru33v
Composition
Which stablecoin they chose
- USDC
- $5.40B63%
- RLUSD
- $837.81M9.8%
- PYUSD
- $658.36M7.7%
- USDG
- $652.53M7.6%
- USDT
- $452.96M5.3%
- 24 other stablecoins
- $554.72M6.5%
Membership is about the promise, not the mechanism: a synthetic dollar and a custodial one both count, and a yield-bearing wrapper counts as the dollar it wraps. Whether any of them holds its peg is a different question, and one that needs a price series rather than a name.
How this figure was arrived at
- Metric
- stablecoin-mix
- Population
- vaults_valuedOpen vaults we can put a size on, which is the denominator behind every capital total here. A vault whose underlying we cannot price is published unvalued rather than estimated; one we read as holding nothing is valued at zero, which is a reading rather than a gap.
- Denominator
- 8,552,154,546.854 USD · 100.0% of it
- Source
- Computed here from figures this platform already holds.
- Grade
- B
- Read at
- 2026-10-25 16:08 UTC
- Methodology
- aspern-0.3
- Snapshot
- cmvo0utbc0239j7z9kztru33v
Assets held
178
- Held by 10+ vaults
- 154
- Held by one
- 0
Gross exposure
$231.38M
Long
$153.61M
66% of $231.38M gross
Short
$77.78M
34% of $231.38M gross
One-sided assets
47
≥80% on one side
- All long
- 27
178 assets long short
| # | Long / short | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 216 | 62 | $46.35M | $20.13M | 43% | $3.39B | 0.98% | +5.0% up, longs pay shorts | 14% | ||
| 2 | 183 | 41 | $38.20M | −$27.36M | 72% | $561.00M | 0.87% | +11.0% up, longs pay shortsbaseline | 20% | ||
| 3 | 81 | 50 | $30.31M | $30.04M | 99% | $1.61B | 1.88% | +4.6% up, longs pay shorts | 32% | ||
| 4 | 182 | 49 | $29.06M | $14.50M | 50% | $2.60B | 0.76% | +11.0% up, longs pay shortsbaseline | 29% | ||
| 5 | 26 | 19 | $18.81M | $18.57M | 99% | $108.28M | 17.37% | +63.0% up, longs pay shorts | 82% | ||
| 6 | 33 | 16 | $7.14M | $6.93M | 97% | $54.56M | 13.08% | +8.0% up, longs pay shorts | 64% | ||
| 7 | 39 | 24 | $4.56M | $4.36M | 96% | $52.78M | 8.65% | +11.0% up, longs pay shortsbaseline | 40% | ||
| 8 | 26 | 15 | $4.18M | $3.92M | 94% | $77.35M | 5.41% | +11.0% up, longs pay shortsbaseline | 71% | ||
| 9 | 60 | 41 | $2.60M | $213.7k | 8% | $275.95M | 0.94% | +11.0% up, longs pay shortsbaseline | 25% | ||
| 10 | 33 | 22 | $2.45M | $286.0k | 12% | $71.31M | 3.43% | +11.0% up, longs pay shortsbaseline | 25% | ||
| 11 | 47 | 28 | $1.85M | $1.62M | 88% | $79.52M | 2.32% | +11.0% up, longs pay shortsbaseline | 29% | ||
| 12 | 39 | 21 | $1.72M | $1.69M | 99% | $43.06M | 3.99% | +1.0% up, longs pay shorts | 72% | ||
| 13 | 42 | 28 | $1.54M | −$557.4k | 36% | $65.38M | 2.36% | +7.9% up, longs pay shorts | 23% | ||
| 14 | 50 | 30 | $1.42M | $243.4k | 17% | $222.97M | 0.64% | +11.0% up, longs pay shortsbaseline | 13% | ||
| 15 | 18 | 12 | $1.35M | $1.30M | 96% | $5.78M | 23.43% | +11.0% up, longs pay shortsbaseline | 93% | ||
| 16 | 20 | 9 | $1.34M | $1.29M | 96% | $9.26M | 14.50% | +11.0% up, longs pay shortsbaseline | 89% | ||
| 17 | 13 | 10 | $1.29M | $1.17M | 91% | $9.07M | 14.24% | +11.0% up, longs pay shortsbaseline | 88% | ||
| 18 | 32 | 20 | $1.28M | $584.6k | 46% | $26.90M | 4.77% | +11.0% up, longs pay shortsbaseline | 47% | ||
| 19 | 23 | 9 | $1.19M | $1.12M | 94% | $24.27M | 4.76% | −11.0% down, shorts pay longs | 79% | ||
| 20 | 56 | 35 | $1.18M | $771.4k | 65% | $569.10M | 0.21% | +11.0% up, longs pay shortsbaseline | 31% | ||
| 21 | 37 | 24 | $1.08M | −$224.0k | 21% | $18.02M | 6.01% | +11.0% up, longs pay shortsbaseline | 39% | ||
| 22 | 27 | 12 | $1.08M | −$933.9k | 87% | $8.89M | 12.12% | +10.7% up, longs pay shorts | 67% | ||
| 23 | 39 | 23 | $980.6k | $893.1k | 91% | $99.58M | 0.98% | +11.0% up, longs pay shortsbaseline | 62% | ||
| 24 | 20 | 11 | $942.2k | $366.5k | 39% | $6.69M | 14.08% | +11.0% up, longs pay shortsbaseline | 60% | ||
| 25 | 21 | 12 | $938.4k | $757.4k | 81% | $11.94M | 7.86% | +3.3% up, longs pay shorts | 79% |
1–25 of 178 assets
…
The collateral behind it
The table above is what the vaults TRADE. This is what they are denominated in, which is the other half of the risk: a vault margined in a coin that depegs is liquidated by its collateral rather than by its trade. A denomination is a claim, USDC claims a dollar, weETH claims an ether, and where we hold a price and a reference we check it.
FindingPegs, checked and unchecked
$9.88B
we can check
$1.84B
behind a peg we cannot check
$9.10B
claims a dollar
$1.64B
claims an ether
$678.08M
claims another asset
$300.08M
claims a bitcoin
We can check what backs 84% of this capital: a dollar claim against a dollar, or a native-token wrapper against the contract that redeems it. The rest is denominated in something we hold no reference price for, which is not the same as a peg that holds.