CrepeToast

LST Looping

Updated 2026-06-13 15:02 UTC

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.

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Best looping venues

Every LST→SOL loop across Kamino's markets and Save, ranked by net looped APY at max leverage.

Best right now: Kamino · GM-Sanctum looping INF25.53% net APY at 10.0x (vs 6.45% unlevered). Leverage helps because INF staking (6.45%) beats SOL borrow (4.33%).
#LSTPlatformStaking APY SOL BorrowSpreadMax LevNet 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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