weETH Max APY Yield Strategy

weETH is ether.fi’s non-rebasing liquid restaking token. ETH is staked through ether.fi and restaked via EigenLayer, earning both staking and restaking rewards while remaining liquid and composable across DeFi.

How the strategy works

This is a max-APY yield loop: weETH is supplied as collateral and WETH is borrowed against it on Morpho, then recycled back into weETH to multiply the underlying ETH Restaking yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.

Strategy details

Collateral asset

Wrapped eETH (weETH)

Borrowed asset

WETH

Issuer

ether.fi

Yield source

ETH Restaking

Underlying

ETH

Category

ETH

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

2.30%

Net borrow APY

2.33%

Max leverage

17.4x

Default leverage

15.4x → 1.87% APY

Leverage ladder

1x 2.30% · 2x 2.27% · 3x 2.24% · 4x 2.21% · 5x 2.18% · 6x 2.15% · 7x 2.12% · 8x 2.09% · 9x 2.06% · 10x 2.03% · 11x 2.00% · 12x 1.97% · 13x 1.94% · 14x 1.91% · 15x 1.88% · 16x 1.85% · 17x 1.82% · 17.4x(max) 1.81%

Oracle type

nav

Exit slippage

$100k 0.04% · $500k 0.10% · $1M 0.12% · $5M 0.20% · $10M 0.33%

as-of 2026-08-20T09:34:34.372Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

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