Get Market Reserve APYs

Borrow & Supply APY Calculation

A reserve is a single asset lending pool within a market. All deposits of an asset enter the same reserve, and all borrowing draws from that pool. Variable rates are driven by utilization, the fraction of deposits currently borrowed:

Utilization = Borrowed / Total Deposited

As utilization increases, borrow rates rise. As utilization decreases, borrow rates fall. Supply APY is derived from borrower interest and depends on both the borrow rate and utilization:

Supply APY ≈ Borrow Rate × Utilization × (1 − Protocol Spread)

Not all deposited capital is borrowed at any given time, so supply APY is always lower than the borrow rate. Higher utilization means more of the pool is earning interest, which increases lender yield. Reserves are isolated pools. The same asset in different markets has different borrowers, collateral, and risk profiles, and therefore different rates.

Fetch All Markets

Retrieve the list of all lending markets on Kamino.

const API_BASE_URL = 'https://api.kamino.finance';
const response = await fetch(`${API_BASE_URL}/v2/kamino-market`);
const markets = await response.json();

The /v2/kamino-market endpoint returns all lending markets including SOL/BTC Market, JLP Market, Altcoins Market, and Prime Market.

Get Reserve APYs for Each Market

For each market, fetch the APY metrics for all reserves (USDC, SOL, wETH, etc.).

const allMarketReserves = await Promise.all(
  markets.map(async (market) => {
    const response = await fetch(
      `${API_BASE_URL}/kamino-market/${market.lendingMarket}/reserves/metrics`
    );
    const reserves = await response.json();
    return { market, reserves };
  })
);

allMarketReserves.forEach(({ market, reserves }) => {
  console.log(`\n${market.name}:`);

  reserves.forEach((reserve) => {
    console.log(`\n${reserve.liquidityToken}:`);
    console.log(`  Supply APY: ${(reserve.supplyApy * 100).toFixed(2)}%`);
    console.log(`  Borrow APY: ${(reserve.borrowApy * 100).toFixed(2)}%`);
    console.log(`  Total Deposits: $${reserve.totalSupplyUsd}`);
    console.log(`  Total Borrowed: $${reserve.totalBorrowUsd}`);
  });
});

The /kamino-market/{pubkey}/reserves/metrics endpoint returns comprehensive metrics for each reserve including APYs, total deposits, and borrows.

Import Dependencies

Import the required packages for Solana RPC communication and Kamino SDK.

import { createSolanaRpc } from '@solana/kit';
import { address } from '@solana/kit';
import { KaminoMarket, DEFAULT_RECENT_SLOT_DURATION_MS } from '@kamino-finance/klend-sdk';

Get Current Slot

Fetch the current Solana slot (block number) for APY calculations.

const rpc = createSolanaRpc('https://api.mainnet-beta.solana.com');
const slot = await rpc.getSlot().send();

console.log(`Current slot: ${slot}`);

What is a slot?A slot is Solana’s block number — like a timestamp but for blockchain state. The SDK uses it to calculate APY based on the current on-chain state. Think of it as “calculate APY as of right now.”

Load a Market

Load a specific lending market using its public key.

const marketAddress = address('7u3HeHxYDLhnCoErrtycNokbQYbWGzLs6JSDqGAv5PfF');
const market = await KaminoMarket.load(rpc, marketAddress, DEFAULT_RECENT_SLOT_DURATION_MS);

Get All Reserves

Retrieve all reserves (asset pools) in the market.

const reserves = market.getReserves();

Calculate APYs for Each Reserve

Loop through each reserve and calculate its borrow and supply APYs.

for (const reserve of reserves) {
  // Get the reserve's token symbol
  const symbol = reserve.stats.symbol || reserve.stats.mintAddress.toString().slice(0, 8);

  // Calculate APYs using current slot (convert to percentage form)
  const borrowAPY = reserve.totalBorrowAPY(slot) * 100;
  const supplyAPY = reserve.totalSupplyAPY(slot) * 100;

  // Get additional metrics (utilization as a percentage)
  const utilization = reserve.calculateUtilizationRatio();
  const totalDeposits = reserve.getDepositTvl();
  const totalBorrows = reserve.getBorrowTvl();

  console.log(`\n${symbol}:`);
  console.log(`  Supply APY: ${supplyAPY.toFixed(2)}%`);
  console.log(`  Borrow APY: ${borrowAPY.toFixed(2)}%`);
  console.log(`  Utilization: ${utilization.toFixed(2)}%`);
  console.log(`  Total Deposits: ${totalDeposits.toFixed(2)}`);
  console.log(`  Total Borrowed: ${totalBorrows.toFixed(2)}`);
}

The reserve.totalBorrowAPY(slot) and reserve.totalSupplyAPY(slot) methods calculate APY based on the current interest rate, utilization, and compounding frequency at the specified slot.

You’ve successfully calculated borrow and supply APYs across all reserves using the Kamino SDK.

​Borrow & Supply APY Calculation

​Fetch All Markets

​Get Reserve APYs for Each Market

​Import Dependencies

​Get Current Slot

​Load a Market

​Get All Reserves

​Calculate APYs for Each Reserve

Borrow & Supply APY Calculation

Fetch All Markets

Get Reserve APYs for Each Market

Import Dependencies

Get Current Slot

Load a Market

Get All Reserves

Calculate APYs for Each Reserve