Size and money locked

Spark locks roughly $8.6 billion, making it one of the biggest yield platforms. Pendle’s TVL sits around $1.1 billion, a fraction of Spark’s size. The difference highlights Spark’s broader capital deployment across DeFi, CeFi and real‑world assets.

Activity and fees

Spark reports no 24‑hour trading volume, while Pendle moves about $11.3 million daily on its AMM. Users on Spark paid about $675 000 in fees over the last day, far exceeding Pendle’s roughly $27 000. Fees indicate the level of user activity and revenue generation for each protocol.

Networks and reach

Spark is available on nine chains including Ethereum, Gnosis and Base. Pendle spans fourteen networks such as Ethereum, Arbitrum, BSC and Avalanche, giving it broader cross‑chain exposure. More chains can translate to a wider user base for Pendle.

Who each platform suits

Spark suits users seeking deep liquidity and large‑scale capital allocation across multiple asset classes, benefiting from its massive TVL. Pendle appeals to traders interested in tokenised future yield and those who value a broader network footprint and higher daily trading volume.