APR to APY
Convert between APR and APY at any compounding frequency.
Runs offline
Direction
Enter a rate and how often it compounds.
About apr to apy
APR is the nominal rate and ignores compounding. APY includes it. The two diverge fast: 100% APR compounded daily is about 171% APY, and the difference is entirely presentational. This matters because protocols choose whichever number flatters them, so comparing a pool quoting APY against one quoting APR is comparing nothing at all. The two are only comparable once both are on the same basis.
Common questions
What is the difference between APR and APY?
APR is a simple annualised rate without compounding; APY folds compounding in. A protocol that compounds daily can quote a higher APY than APR for the same underlying flow — comparing APR of one pool to APY of another is a mismatch.
How do I convert APR to APY?
Pick a compounding frequency and apply the standard conversion this page uses. More frequent compounding raises APY for the same APR; continuous compounding is the upper mathematical bound for that APR.
Which figure should I compare across protocols?
Compare like with like — APR to APR or APY to APY at a stated frequency. This converter exists because listings often mix the two without saying so, which invents yield out of notation.