Exchange Rate

Each sToken is convertible into an ever increasing quantity of the underlying asset, as interest accrues in the market. The exchange rate between a sToken and the underlying asset is equal to:

exchangeRate = (getCash() + totalBorrows() - totalReserves()) / totalSupply()

SErc20 / SEther

function exchangeRateCurrent() returns (uint)
  • RETURN: The current exchange rate as an unsigned integer, scaled by 1e18.


SErc20 sToken = SToken(0x3FDA...);
uint exchangeRateMantissa = sToken.exchangeRateCurrent();

Web3 1.0

const sToken =;
const exchangeRate = (await sToken.methods.exchangeRateCurrent().call()) / 1e18;

Tip: note the use of call vs. send to invoke the function from off-chain without incurring gas costs.