Leveraged staking: deposit an LST, borrow SOL, swap to more LST, redeposit. Net APY = staking·L − SOL borrow·(L−1), so it only pays while the LST staking yield beats the SOL borrow rate — every turn of leverage multiplies that spread. Each Kamino market has its own SOL borrow rate, so the same LST is net-positive in a cheap-borrow market (GM-Sanctum, Jito) yet net-negative in the Main Market (~8% borrow). Max leverage = 1/(1−LTV); Kamino emode ~85%. Net APY includes the LST staking yield and any live Kamino reward emissions (SOL borrow is net of borrow-side rewards); a reward tag marks loops with an active campaign.
Every LST→SOL loop across Kamino's markets and Save, ranked by net looped APY at max leverage.
| # | LST | Platform | Staking APY | SOL Borrow | Spread | Max Lev | Net Looped APY |
|---|---|---|---|---|---|---|---|
| 1 | INF | KaminoGM-Sanctumemode | 6.45% | 4.33% | +2.12% | 10.0x~4.5x | 25.53% |
| 2 | BSOL | KaminoGM-Solblazeemode | 5.35% | 4.53% | +0.82% | 10.0x~6.8x | 12.77% |
| 3 | MSOL | Save (Solend)Main Poolbase | 6.98% | 4.93% | +2.05% | 3.2x | 11.54% |
| 4 | JUPSOL | Save (Solend)Main Poolbase | 5.68% | 4.93% | +0.75% | 3.2x | 7.34% |
| 5 | JITOSOL | Save (Solend)Main Poolbase | 5.41% | 4.93% | +0.48% | 3.2x | 6.48% |
| 6 | JSOL | Save (Solend)Main Poolbase | 5.36% | 4.93% | +0.43% | 3.2x | 6.31% |
| 7 | BSOL | Save (Solend)Main Poolbase | 5.31% | 4.93% | +0.38% | 3.2x | 6.17% |
| 8 | picoSOL | KaminoMain Marketemode | 7.62% | 8.08% | -0.46% | 6.7x~5.9x | 4.99% |
| 9 | JITOSOL | KaminoJito Marketemode | 5.40% | 5.77% | -0.37% | 6.7x~6.2x | 3.30% |
| 10 | MSOL | KaminoMarinade Marketemode | 6.23% | 7.36% | -1.13% | 6.7x~5.8x | -0.19% |
| 11 | MSOL | KaminoMain Marketemode | 6.23% | 8.08% | -1.85% | 6.7x~3.0x | -4.27% |
| 12 | dSOL | KaminoMain Marketemode | 6.09% | 8.08% | -1.98% | 6.7x~4.3x | -5.15% |
| 13 | pSOL | KaminoMain Marketemode | 6.08% | 8.08% | -2.00% | 6.7x~4.1x | -5.28% |
| 14 | hubSOL | KaminoMain Marketemode | 5.99% | 8.08% | -2.09% | 6.7x~5.0x | -5.85% |
| 15 | hSOL | KaminoMain Marketemode | 5.91% | 8.08% | -2.17% | 6.7x~4.2x | -6.38% |
| 16 | lanternSOL | KaminoMain Marketemode | 5.91% | 8.08% | -2.17% | 6.7x~5.8x | -6.38% |
| 17 | dfdvSOL | KaminoMain Marketemode | 5.91% | 8.08% | -2.17% | 6.7x~3.3x | -6.41% |
| 18 | cgntSOL | KaminoMain Marketemode | 5.89% | 8.08% | -2.19% | 6.7x~5.6x | -6.51% |
| 19 | nxSOL | KaminoMain Marketemode | 5.73% | 8.08% | -2.35% | 6.7x~3.9x | -7.57% |
| 20 | JupSOL | KaminoMain Marketemode | 5.65% | 8.08% | -2.43% | 6.7x~4.3x | -8.13% |
| 21 | bonkSOL | KaminoMain Marketemode | 5.62% | 8.08% | -2.46% | 6.7x~4.2x | -8.33% |
| 22 | laineSOL | KaminoMain Marketemode | 5.60% | 8.08% | -2.48% | 6.7x~5.4x | -8.43% |
| 23 | strongSOL | KaminoMain Marketemode | 5.47% | 8.08% | -2.61% | 6.7x~5.0x | -9.29% |
| 24 | jSOL | KaminoMain Marketemode | 5.46% | 8.08% | -2.62% | 6.7x~4.9x | -9.36% |
| 25 | adraSOL | KaminoMain Marketemode | 5.46% | 8.08% | -2.62% | 6.7x~5.3x | -9.41% |
| 26 | bbSOL | KaminoMain Marketemode | 5.45% | 8.08% | -2.62% | 6.7x~3.8x | -9.42% |
| 27 | JITOSOL | KaminoMain Marketemode | 5.40% | 8.08% | -2.68% | 6.7x~3.1x | -9.76% |
| 28 | bSOL | KaminoMain Marketemode | 5.35% | 8.08% | -2.73% | 6.7x~3.0x | -10.06% |
| 29 | bnSOL | KaminoMain Marketemode | 5.33% | 8.08% | -2.75% | 6.7x~2.4x | -10.25% |
| 30 | vSOL | KaminoMain Marketemode | 5.33% | 8.08% | -2.75% | 6.7x~5.4x | -10.27% |
| 31 | stkeSOL | KaminoMain Marketemode | 5.09% | 8.08% | -2.99% | 6.7x~5.2x | -11.85% |
| 32 | fwdSOL | KaminoMain Marketemode | 2.37% | 8.08% | -5.71% | 6.7x~7.4x | -30.00% |
| 33 | ezSOL | KaminoJito Marketemode | 0.26% | 5.77% | -5.52% | 6.7x~5.3x | -31.02% |
| 34 | rstSOL | KaminorstSOL/bbSOL Leverage Marketemode | 0.00% | 7.13% | -7.13% | 6.7x~4.1x | -40.38% |
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