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Best of · Arbitrum · Updated

The best Interest Rate Derivatives dApps on Arbitrum in 2026

We track 6 Interest Rate Derivatives dApps that run on Arbitrum and have reviewed 3 of them in full. Our top pick is Rho Protocol. Each one is scored on security, ease of use, fees and features.

Ranked list

  1. 1
    Rho Protocol logo

    Rho Protocol

    Interest Rate Derivatives · Arbitrum

    Rho is an Arbitrum trading venue for crypto interest-rate products, with additional perps, tokenized-asset trading and yield vaults. Fee details and important custody and audit terms need checking before you commit funds.

    Read the Rho Protocol reviewVisit Rho Protocol(opens in a new tab)
    ScoreScore 5.6 out of 10
    TVL $57.7K−0.1%
  2. 2
    Spectra V2 logo

    Spectra V2

    Interest Rate Derivatives · Flare, Stellar, Ethereum +10

    Spectra V2 offers fixed-rate yield products, yield exposure and curated vaults across multiple chains. Its fee schedule and security assurances are unclear, so inspect each product and its risks before depositing.

    Read the Spectra V2 reviewVisit Spectra V2(opens in a new tab)
    ScoreScore 4.3 out of 10
    TVL $10.6M+6.5%
  3. 3
    Boros logo

    Boros

    Interest Rate Derivatives · Arbitrum

    Boros is Pendle’s Arbitrum platform for trading funding rates on margin. It may suit experienced traders hedging perpetuals exposure, but fees, custody details and listed audits are key gaps to check before putting funds at risk.

    Read the Boros reviewVisit Boros(opens in a new tab)
    ScoreScore 4.2 out of 10
    TVL $7.61M−2.2%
  4. 4
    Rho X logo

    Rho X

    Interest Rate Derivatives · Ethereum, Arbitrum

    Rho X is an onchain market for trading crypto interest rates, but key details about fees, custody and how to use it remain unclear.

    Read the Rho X reviewVisit Rho X(opens in a new tab)
    ScoreNot rated yet
    TVL $589K−0.0%
  5. 5
    IPOR Derivatives logo

    IPOR Derivatives

    Interest Rate Derivatives · Arbitrum, Ethereum, Base

    IPOR’s app presents Fusion onchain vaults, while IPOR Derivatives is described as an interest-rate swap protocol. The product mismatch and missing fee and safety details make it hard to assess before you deposit.

    Read the IPOR Derivatives reviewVisit IPOR Derivatives(opens in a new tab)
    ScoreNot rated yet
    TVL $484K−0.3%
  6. 6
    Voltz logo

    Voltz

    Interest Rate Derivatives · Ethereum, Arbitrum, Avalanche

    Voltz is a non-custodial AMM for trading interest rate swaps. Its fees, current operating status and audit details are unclear, so check these before using it.

    Read the Voltz review
    ScoreNot rated yet
    TVL $223K−0.5%

Interest Rate Derivatives dApps on Arbitrum: the numbers

Tracked
6
Reviewed
6
Total TVL
$19.6M
Avg. score
4.7/10

The SkyBitcoins index lists 6 interest rate derivatives dApps on Arbitrum. Every one of them has a full review. Together they hold $19.6M in total value locked, counting value on every chain they support. Spectra V2 dominates, with 54% of that total. The five largest make up 100% of the total; the median is $484K.

By value locked, the largest interest rate derivatives dApps on Arbitrum are Spectra V2 ($10.6M), Boros ($7.61M) and Rho X ($589K). The best-rated is Rho Protocol with 5.6/10, followed by Spectra V2 (4.3) and Boros (4.2). The 3 rated interest rate derivatives dApps average 4.7/10, and none scores 8 or above yet.

Beyond Arbitrum, these interest rate derivatives dApps most often also run on Ethereum (4), Base (2) and Avalanche (2). All 5 with a confirmed status are active. In the past week, total value locked rose 2.5%. Spectra V2 gained the most (+6.5%), while Boros dropped the most (−2.2%).

Largest by TVL

  1. 1Spectra V2 logoSpectra V2$10.6M
  2. 2Boros logoBoros$7.61M
  3. 3Rho X logoRho X$589K
  4. 4IPOR Derivatives logoIPOR Derivatives$484K
  5. 5Voltz logoVoltz$223K

Highest rated

  1. 1Rho Protocol logoRho Protocol5.6
  2. 2Spectra V2 logoSpectra V24.3
  3. 3Boros logoBoros4.2

Method

How we ranked them

Reviewed dApps come first. Each SkyBitcoins review scores security, ease of use, fees and features from 0 to 10 using public facts such as audits, documentation and on-chain data; the overall score orders the list, with total value locked as the tie-breaker. Projects we have not reviewed yet follow, ordered by total value locked. Scores are never sold.

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Frequently asked questions

What is the largest interest rate derivatives dApp on Arbitrum by TVL?

Spectra V2 is the largest interest rate derivatives dApp on Arbitrum by total value locked, with $10.6M across all the chains it supports. It is followed by Boros ($7.61M) and Rho X ($589K). TVL figures come from DefiLlama and change daily.

Which interest rate derivatives dApp on Arbitrum has the highest SkyBitcoins score?

Rho Protocol has the highest score at 5.6/10, ahead of Spectra V2 (4.3) and Boros (4.2). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.

How many interest rate derivatives dApps on Arbitrum has SkyBitcoins reviewed?

SkyBitcoins tracks 6 interest rate derivatives dApps on Arbitrum. Of these, 6 have a full review and 6 report value locked, $19.6M in total, counting value on every chain they support.

Which interest rate derivatives dApps on Arbitrum grew the most this week?

Among interest rate derivatives dApps with at least $1M locked, Spectra V2 had the biggest 7-day TVL gain (+6.5%) and Boros the biggest drop (−2.2%). Combined TVL moved +2.5% over the same seven days.

What is the average score for interest rate derivatives dApps on Arbitrum?

The 3 rated interest rate derivatives dApps on Arbitrum average 4.7 out of 10. Of these, 0 score 8 or higher and 2 score below 5.