USD vs USDT: Which Is Better for Bitfinex Lending? A Full Comparison for 2026
Latest backtest update (2026-04): Based on FuNi’s historical rate database (data range 2019-04 to 2026-03, USD pool samples, year-by-year walk-forward windows (2020 to 2026)), our latest backtest shows that the APEX III strategy produced a pre-fee annualized return of roughly 8%–16% over about 180–365 days across the USD and USDT lending markets, and a USD pool average of about 11% after the 15% platform fee, with peaks around 80% (extreme outliers tied to systemic events like LUNA or FTX, not the norm); the baseline ran around 6%–7% long-term. Across the multi-year time windows (2019–2026, seven yearly windows per currency), the APEX III backtest return was higher than the baseline in all seven yearly windows for the USD pool, and in six of seven for USDT. ...