Spoke base rate + your collateral basket
Defaults are Aave's own published V4 example (5% GHO base rate; WETH 0%, LINK 30%, UNI 40% Asset Liquidity Risk). Edit any field — leave a row's value at 0 to skip it.
Weighted Risk Premium vs a flat V3-style rate
Effective rate at different weighted risk levels
Same base rate and borrow amount — only your basket's weighted Asset Liquidity Risk changes.
| Weighted risk | Эффективная ставка | Yearly interest |
|---|
Why the same asset now has different rates for different people
Aave V3 charges every borrower in a pool the same utilization-based interest rate — your collateral mix is irrelevant to your rate, it only matters for your liquidation threshold. Aave V4's hub-and-spoke architecture, live on Ethereum since March 30, 2026 and expanded to Avalanche in July, changes that for rate-setting too. Each Spoke still has a base rate, but on top of it V4 adds a per-user Risk Premium computed from the specific collateral you've posted: your effective rate = base rate × (1 + weighted-average Asset Liquidity Risk of your basket). Aave's own explainer illustrates this with a 5% GHO base rate where a WETH-only borrower (0% Asset Liquidity Risk) pays exactly 5%, while a borrower using LINK (30% risk) or UNI (40% risk) as collateral accumulates extra premium debt on top of the same base rate — for the same borrowed asset, in the same Spoke, at the same time.
The Asset Liquidity Risk score itself runs from 0% (highest-quality collateral, essentially no premium) up to 1000% (maximum risk) and is set by Aave governance with Risk Service Provider input — it is not something the protocol computes automatically from market data, it's a configured parameter per asset per Spoke. When you post multiple collateral types together, V4 averages their Asset Liquidity Risk scores weighted by dollar value, exactly the same shape of calculation as a weighted liquidation threshold (see the Multi-Collateral Health Factor calculator) — except here the weighted number drives your interest cost instead of your liquidation point. A basket that's mostly blue-chip collateral stays close to the base rate; leaning on higher-risk assets pulls your effective rate up even though nothing about the asset you're borrowing changed.
This sits inside V4's broader hub-and-spoke redesign: instead of V3's single shared liquidity pool per market, V4 runs three segregated Liquidity Hubs — Core (the default, broadest venue), Prime (controlled collateral posture for suppliers who want it), and Plus (strategy-heavy stablecoin activity behind its own caps) — each routing credit to isolated Spokes with their own asset-admission rules, without hub liquidity mixing between them. The Risk Premium formula on this page operates inside whichever Spoke you're in; the base rate itself already differs by hub and Spoke before your personal premium is even added. Treat the 0%/30%/40% defaults here as Aave's own illustrative example, not a live governance snapshot — always check the current Aave V4 app for your exact Spoke's real parameters before sizing a real position.