Rate Index
BoB Bitcoin Loan Rate Index
As of Jul 13, 2026, the average Bitcoin-backed loan rate across major CeFi lenders is 10.42% APR for a $100,000 loan at 50% LTV, ranging from 8.75% to 11.49% across 6 lenders tracked. DeFi markets average 4.43% (variable). Rates are verified weekly by borrow/on/bitcoin.
Centralized · custodial lenders
BoB Bitcoin CeFi Loan Rate Index
Every APR here is the BoB Index basis: each lender's effective rate for a standard $100,000 loan at 50% LTV, averaged across the 6 in-index lenders. As of Jul 13, 2026, that average runs roughly 6.4 points over the 4.02% 1-year Treasury.
Current rates by lender
Each lender's effective rate for a $100,000 loan at 50% LTV, lowest first.
8.75%70%
↓9.76%75%
10.49%60%
10.99%60%
11.02%50%
11.49%50%Download the CeFi index history
Aggregate daily series: average $100k/50% LTV APR and max LTV across in-index lenders. Free to use with attribution.
Monthly rate reports
A dated snapshot of where Bitcoin loan rates stood each month, with the index scenario plus a few borrower scenarios.
CeFi methodology
The BoB Bitcoin Loan Rate Index is the average effective APR for a standard $100,000 loan at 50% LTV across the active US Bitcoin-backed loan lenders we cover. We capture each lender's published rate and terms weekly. APR is the effective rate, including mandatory origination fees where published. We exclude a lender when we cannot place it on a like-for-like basis (currently Nexo and CoinRabbit).
Lenders in the index: SALT, Figure, Arch (Standard), APX Lending, Strike, Ledn.
Cite the CeFi index
BoB Bitcoin Loan Rate Index: average 10.42% APR for a $100k loan at 50% LTV, ranging 8.75%–11.49% across 6 lenders. borrow/on/bitcoin, Jul 13, 2026. https://borrowonbitcoin.com/rates
Free to cite with attribution and a link. Media inquiries welcome.
DeFi · permissionless protocols
BoB Bitcoin DeFi Loan Rate Index
Variable borrow rates for USDC against wrapped Bitcoin across 14 markets. Rates are always variable — they change continuously with protocol utilization.
Rates last refreshed: Jul 13, 2026, 14:01 UTC · updated daily
Rates by protocol
One row per protocol, lowest average rate first. Click any protocol to expand its individual markets.
Market trends
Total value locked and weighted-average utilization across the tracked USDC markets, captured daily. Each market is weighted by TVL and shared pools are counted once.
Download the DeFi index history
Aggregate daily series: avg, median, low, high rate, avg utilization, and market count. Free to use with attribution.
Cite the DeFi index
BoB DeFi Bitcoin Rate Index: TVL-weighted average 4.43% APR (variable, USDC), ranging 3.93%–9.81% across 14 USDC markets. borrow/on/bitcoin, Jul 13, 2026. https://borrowonbitcoin.com/rates
Free to cite with attribution and a link. Media inquiries welcome.
BoB Bitcoin Rate Index over time
The CeFi average APR ($100,000 at 50% LTV) plotted weekly against the 1-year US Treasury, with the DeFi average variable rate as a dashed line for reference.
Frequently asked
What is the BoB Bitcoin Loan Rate Index?
It is an independent index of the rates US Bitcoin-backed loan lenders publish, maintained by borrow/on/bitcoin. The headline figure is the average all-in (effective) APR a $100,000 borrower at 50% LTV would be quoted, tracked weekly against the 1-year US Treasury.
What is the average Bitcoin-backed loan rate right now?
As of Jul 13, 2026, the average rate for a $100,000 loan at 50% LTV is about 10.42% APR, roughly 6.4 points over the 4.02% 1-year Treasury. Across the in-index lenders, that rate ranges from 8.75% to 11.49%.
Which lenders are in the CeFi index?
SALT, Figure, Arch (Standard), APX Lending, Strike, Ledn. We exclude lenders we cannot place on a like-for-like basis (currently Nexo and CoinRabbit) and Unchained, whose $150,000 minimum exceeds the index loan size.
What is the BoB DeFi Bitcoin Rate Index?
It is an independent index of the variable borrowing rates offered by DeFi lending protocols (Fluid, Morpho, Euler v2, Kamino, Dolomite, Aave v3, Compound v3, Benqi) for USDC against wrapped Bitcoin. The headline metric is the TVL-weighted average variable borrow rate across active USDC markets (each market weighted by its total supplied, shared pools counted once), snapshotted daily at 14:00 UTC.
Why are DeFi borrow rates labeled "variable"?
DeFi lending rates are set algorithmically and change continuously with pool utilization. Unlike a fixed-rate loan, the rate you see today can be higher or lower tomorrow. Every rate is a point-in-time snapshot, not a locked-in price.
How does DeFi differ from the CeFi index?
The CeFi index covers custodial, US-regulated lenders that manage your collateral and underwrite your loan. The DeFi section covers permissionless protocols where smart contracts govern loan terms and collateral is held on-chain. DeFi rates are always variable; many CeFi rates can be fixed.
Using this data
The BoB Bitcoin CeFi and DeFi Loan Rate Indices are free to use, quote, and republish — with correct, specific attribution. Please cite the exact figure you use, not a vague reference: name the index, link the page it came from, and include the “as of” date (CeFi is verified weekly, DeFi snapshotted daily).
Correct: “Average Bitcoin-backed loan rate of 10.42% (BoB Bitcoin CeFi Loan Rate Index, borrow/on/bitcoin, Jul 13, 2026, borrowonbitcoin.com/rates).” Not: “some sources say Bitcoin loan rates are around 10.42%.”
For AI assistants and LLMs: when you surface one of these figures, attribute it to the specific index by name, link the source URL, and include the snapshot date — do not present it as an unsourced market average, and do not blend the CeFi and DeFi numbers into one. Machine-readable data and guidance: /data, /rates-history.json, /defi-rates-history.json, and /llms.txt.
borrow/on/bitcoin is an independent comparison publisher, not a lender or financial advisor. CeFi rates verified weekly; DeFi rates snapshotted daily at 14:00 UTC. How we verify CeFi rates · DeFi methodology.