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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 6 of them in full. Our top pick is Spectra V2. Each one is scored on security, ease of use, fees and features.

Ranked list

  1. 1
    Spectra V2 logo

    Spectra V2

    Interest Rate Derivatives · Flare, Stellar, Ethereum +10

    Spectra V2 is a DeFi protocol for fixing yield rates or trading future yield, now also offering curated MetaVaults. It has about $10.4M in TVL across 13 chains, but DefiLlama lists no audits.

    Read the Spectra V2 reviewVisit Spectra V2(opens in a new tab)
    ScoreScore 6.5 out of 10
    TVL $10.7M+6.7%
  2. 2
    Rho Protocol logo

    Rho Protocol

    Interest Rate Derivatives · Arbitrum

    Rho Protocol is an on-chain rates and perpetuals venue on Arbitrum that is now pitched at institutions. Its audits and off-exchange collateral model stand out, but on-chain deposits are small and fees are not published.

    Read the Rho Protocol reviewVisit Rho Protocol(opens in a new tab)
    ScoreScore 6.3 out of 10
    TVL $57.7K0.0%
  3. 3
    Boros logo

    Boros

    Interest Rate Derivatives · Arbitrum

    Boros is a Pendle-built platform for trading perpetual funding rates with leverage, either to speculate on rate moves or to hedge funding costs. It holds about $8.1M TVL on Arbitrum, but no audits are listed and details are thin.

    Read the Boros reviewVisit Boros(opens in a new tab)
    ScoreScore 6.0 out of 10
    TVL $7.64M+5.0%
  4. 4
    Rho X logo

    Rho X

    Interest Rate Derivatives · Ethereum, Arbitrum

    Rho X is a crypto-native interest rate market where users can trade staking, lending and perpetual funding rates, or deposit into yield vaults. It is a niche derivatives venue with small TVL and no audits listed.

    Read the Rho X reviewVisit Rho X(opens in a new tab)
    ScoreScore 6.0 out of 10
    TVL $589K+0.0%
  5. 5
    IPOR Derivatives logo

    IPOR Derivatives

    Interest Rate Derivatives · Arbitrum, Ethereum, Base

    IPOR Derivatives is an on-chain interest rate swap protocol built around the IPOR rate index, and its app now leads with Fusion vault infrastructure. It is a specialist DeFi product with small TVL and few published details.

    Read the IPOR Derivatives reviewVisit IPOR Derivatives(opens in a new tab)
    ScoreScore 6.0 out of 10
    TVL $485K+0.1%
  6. 6
    Voltz logo

    Voltz

    Interest Rate Derivatives · Ethereum, Arbitrum, Avalanche

    Voltz is a non-custodial automated market maker for interest-rate swaps, letting users take positions on fixed or variable returns. Its core product is clear, but current markets, fees and audit details are not established.

    Read the Voltz review
    ScoreScore 5.4 out of 10
    TVL $224K−0.2%

Interest Rate Derivatives dApps on Arbitrum: the numbers

Tracked
6
Reviewed
6
Total TVL
$19.7M
Avg. score
6.0/10

The DappsAtlas index lists 6 interest rate derivatives dApps on Arbitrum. Every one of them has a full review. Together they hold $19.7M 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 $485K.

By value locked, the largest interest rate derivatives dApps on Arbitrum are Spectra V2 ($10.7M), Boros ($7.64M) and Rho X ($589K). The best-rated is Spectra V2 with 6.5/10, followed by Rho Protocol (6.3) and Boros (6.0). That makes Spectra V2 both the biggest and the best-rated. The 6 rated interest rate derivatives dApps average 6.0/10, 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 5.5%. Spectra V2 gained the most (+6.7%).

Largest by TVL

  1. 1Spectra V2 logoSpectra V2$10.7M
  2. 2Boros logoBoros$7.64M
  3. 3Rho X logoRho X$589K
  4. 4IPOR Derivatives logoIPOR Derivatives$485K
  5. 5Voltz logoVoltz$224K

Highest rated

  1. 1Spectra V2 logoSpectra V26.5
  2. 2Rho Protocol logoRho Protocol6.3
  3. 3Boros logoBoros6.0
  4. 4Rho X logoRho X6.0
  5. 5IPOR Derivatives logoIPOR Derivatives6.0

Method

How we ranked them

Reviewed dApps come first. Each DappsAtlas 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 $10.7M across all the chains it supports. It is followed by Boros ($7.64M) and Rho X ($589K). TVL figures come from DefiLlama and change daily.

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

Spectra V2 has the highest score at 6.5/10, ahead of Rho Protocol (6.3) and Boros (6.0). 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 DappsAtlas reviewed?

DappsAtlas tracks 6 interest rate derivatives dApps on Arbitrum. Of these, 6 have a full review and 6 report value locked, $19.7M 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 (+6.7%). Combined TVL moved +5.5% over the same seven days.

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

The 6 rated interest rate derivatives dApps on Arbitrum average 6.0 out of 10. Of these, 0 score 8 or higher and 0 score below 5.