Usdc vs Usde

Side by side OpenChainBench measurements. Identical layout, no editorial verdict, the live data leads. Each panel surfaces the aggregate plus the chain and region breakdowns when the underlying bench exposes them, straight from the Prometheus queries that drive the parent benchmark pages.

Read methodology Last measured Wed, 01 Jul 2026 15:15:19 UTCWindow: rolling 24h1 shared benchmark

Usdc

Circle's USD-redeemed stablecoin, audited and backed by short-duration Treasuries and same-day USD cash. Same-day primary-market redemption with US banks is the structural anchor for the peg.

Usde

Ethena's synthetic dollar anchored by a delta-neutral basis trade on perpetual futures. Flashed to $0.65 on Binance USDEUSDT during the October 10 2025 liquidation cascade.

Side by side measurements

Cheapest USDT stablecoin swap on Binance, live USDC, FDUSD, USDe spread

Trading

Usdc

Trails

0.11 %

p99: 0.13%
rank: #2
samples: 17,279

Usde

Leads

0.045 %

p99: 0.045%
rank: #1
samples: 17,279

How this pair was selected

A pair is published when all four conditions hold. Both providers run in the same OpenChainBench benchmark for at least seven consecutive days. Each provider has at least 1000 samples in the measurement window. The head to head query has observable third party search demand. Both providers have a public /products/[slug] page on OCB. The full pair ledger is versioned in the public repo so the methodology is externally verifiable.