LUSD/USD price feed
LUSD was designed with a hard floor under its price and a soft ceiling above it. Between those two bounds the token floats freely, which is why this dollar has spent long stretches trading above one dollar rather than at it. The number above is where the float currently sits inside that band, read from the token's own traded market.
Aggregate on-chain rate: hourly view of the last 4 weeks. The API itself updates block by block. Request API access
Book composition · auto-observed
The top pool leads without dominating at present, with the balance spread over several chains.
A dollar with a floor and a ceiling
The floor comes from redemption: LUSD can always be exchanged against the collateral behind it at close to face value, so a price meaningfully under one dollar creates an arbitrage that pulls it back. The ceiling comes from minting: above a certain level it becomes attractive to create new LUSD against collateral, which caps how far the price can run.
Between the two, nothing pins the token to exactly one dollar. The system tolerates a band, the market picks a spot inside it, that spot has historically leaned toward the upper half. A quote page that rounds this token to a flat dollar is not wrong by much, but it erases the one thing the price is saying.
The contracts enforcing the band run without an operator, a design choice that has kept the mechanism unchanged since launch. What this page adds is the current reading inside the band, at a stated block, from the venues named in the composition below.
The book leans one way
Depth in this market has been lopsided in an unusually eloquent way. At past readings the bids stacked within one percent below the mid have carried many times the value of the offers above it: a book that is easy to sell into, hard to buy size out of.
That shape is the premium, drawn in liquidity. Holders of a floored dollar are not eager sellers, so the offer side tends to stay thin while the bid side stays stocked. A reader who saw the depth figures alone, without the price, could guess which side of par this token spends its time on.
Turnover has run modest for a book with this much standing depth, patient money rather than passing trade. The composition below is the provenance, stated venue by venue. One public source ranks for this token's name while showing an unrelated asset worth a few cents; the composition is how a reader checks they are looking at the real one.
What the premium is telling you
Stretches of stress in the wider market have historically pushed this token's price up, not down. When leverage unwinds, borrowers buy LUSD back to repay debt, demand meets a thin offer side, the float climbs toward the ceiling. The premium is a barometer reading, not a return.
That is why a desk watches this number rather than trusting the rounded figure. The distance between the print and par carries information about redemption pressure plus borrower behavior that a flat quote throws away. The feed keeps the decimals for exactly that reason.
The band does the interesting work either way: where this dollar sits between its floor and its ceiling is the sentence the market keeps rewriting.
Who runs on this rate
Risk desks reading the float
The gap between this print and one dollar has behaved as a stress signal in past market episodes; a desk that watches it needs the unrounded level with the block it came from.
Treasuries holding a reserve dollar
LUSD positions held for their redemption floor still need marking; this page gives the market's figure for a token most sources quote as simply one dollar.
Credit desks with LUSD collateral
Lending books that accept a floored dollar as collateral need its market rate, including the premium, not the face value the design suggests.
Where the LUSD market lives
Active LUSD/USD pools per chain, as observed by the feed on 2026-10-27.
LUSD in the catalog
5 pairs, each computed from its own pools with the same methodology:
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