Parity board · ETH LSTs & Wrappers
ETH ratio board
Every staked ether token carries a ratio to ETH. Public converters disagree about it because they mix two different numbers. This board shows one of them consistently: the market rate, read from the pools where each token actually changes hands.
| Pair | Type | Rate · delayed | Pools | Chains | Feed |
|---|---|---|---|---|---|
| ▸ stETH/ETH | Rebasing | 0.9998 | 5 | 1 | stETH/USD → |
| ▸ wstETH/ETH | Accruing | 1.2421 | 14 | 5 | wstETH/USD → |
| ▸ cbETH/ETH | Accruing | 1.1377 | 8 | 2 | cbETH/USD → |
| ▸ rETH/ETH | Accruing | 1.1665 | 6 | 3 | rETH/USD → |
| ▸ weETH/ETH | Accruing | 1.1018 | 12 | 6 | weETH/USD → |
| ▸ ezETH/ETH | Accruing | 1.0812 | 1 | 1 | ezETH/USD → |
| ▸ rsETH/ETH | Accruing | 1.0726 | 1 | 1 | rsETH/USD → |
| ▸ ETHx/ETH | Accruing | 1.0918 | 1 | 1 | ETHx/USD → |
| ▸ LsETH/ETH | Accruing | 1.1180 | 1 | 1 | LsETH/USD → |
| ▸ mETH/ETH | Accruing | 1.0968 | 1 | 1 | mETH/USD → |
| ▸ OETH/ETH | Rebasing | 0.9998 | 2 | 1 | OETH/USD → |
| ▸ pufETH/ETH | Accruing | 1.0806 | 1 | 1 | pufETH/USD → |
| ▸ rswETH/ETH | Accruing | 1.0713 | 1 | 1 | rswETH/USD → |
| ▸ swETH/ETH | Accruing | 1.1273 | 1 | 1 | swETH/USD → |
| ▸ superOETHb/ETH | Rebasing | 0.9990 | 2 | 1 | superOETHb/USD → |
| ▸ weETH/WETH | Accruing | 1.1018 | 12 | 6 | weETH/USD → |
| ▸ wstETH/WETH | Accruing | 1.2419 | 14 | 5 | wstETH/USD → |
Two numbers wear the same name
Ask three public converters for a staked ether rate and you can get answers on both sides of the contract value at the same moment. None of them are broken. Some quote the protocol exchange rate while others quote a market observation. Few say which. For a wallet balance the difference is cosmetic. For a lending desk deciding where a liquidation clears, it is the whole question.
Every number on this board is a market rate. The contract value belongs to each protocol and is already on-chain for anyone to read. What the pools add is the price of leaving early: what a holder actually receives who trades the token now instead of queueing for withdrawal.
Why the accruing rows climb
The type column splits the board into two families. Rebasing tokens pay rewards as new tokens, so their ratio is built to hover at one. Accruing tokens fold rewards into the token itself, so their ratio starts at one on launch day and climbs for as long as validators earn. A high ratio on an accruing row is seniority, not a premium: the older the wrapper, the more yield its ratio has absorbed.
Ratio board FAQ
Why does stETH trade near 1 ETH while wstETH does not?
stETH rebases: staking rewards arrive as extra tokens, so one stETH is designed to track one ETH. wstETH wraps the same position without rebasing, so rewards accumulate inside the ratio instead. Its rate above one is earned yield made visible, not a mispricing.
What is the difference between a market rate and an exchange rate?
The protocol publishes an exchange rate: what the contract will honor. The market rate is what the token fetches in the pools where it trades right now. Most days they sit close together. When they part, the gap itself is the information: it prices exit demand and liquidity in a way the contract number cannot.
Can a staked token trade below its exchange rate?
It has happened. In stressed markets holders wanting immediate liquidity have sold staked ether below the contract value rather than queue for withdrawals. Those episodes resolved as arbitrage caught up, but risk desks remember them: the market rate is where liquidations clear.