Compare

Morpho vs Spark USDC Yield Alpha

Two USDC venues with different market design. Use Yield Alpha to see if the dollar edge survives exit, entry, gas, and transfer time.

Last updated Oct 17, 2026, 3:17 AM UTC

Direct answer

On live Yield.ly data, moving $25,000 from USDC · Spark Savings · Ethereum to USDC · Morpho Blue · Hyperliquid L1 models +51 USD net Yield Alpha over 30 days after labeled switching-cost estimates (decision: WATCH). The reverse move models -79 USD.

Details → · Yields are variable. Switching costs are labeled estimates.

morpho

USDC · Morpho Blue · Hyperliquid L1

6.55% APY

7d 5.04% · 30d 5.71%

TVL $1,517,877.00

Yield Durability73/100

Annualized earnings (simple pro-rata)

$1,000: $65.49
$10,000: $654.90
$100,000: $6,549.00

spark

USDC · Spark Savings · Ethereum

3.80% APY

7d 3.60% · 30d 3.57%

TVL $299,818,762.00

Yield Durability87/100

Annualized earnings (simple pro-rata)

$1,000: $38.00
$10,000: $380.00
$100,000: $3,800.00

A → B on $25k / 30d

STAY

Net -$78.97

Net Yield Alpha is negative by more than 13 USD over the horizon after estimated costs.

B → A on $25k / 30d

WATCH

Net $51.38

Positive but thin edge below the 125 USD MOVE threshold after costs.

Yield Alpha to change principal, horizon, or current APY. Details →

Freshness: Oct 17, 2026, 3:17 AM UTC

Open dashboard · Methodology · Sources · Definitions