Ethena Pay vs ether.fi Cash
Side by side at your spend: what each card pays back after fees and FX, where you can get it and what it includes.
Short answer: At $2,000 a month in Australia, Ethena Pay pays back $54.00 a month and ether.fi Cash pays back $24.00 a month. Ethena Pay comes out $30.00 a month ahead. At $500 a month, Ethena Pay comes out $7.50 ahead. At $5,000 a month, ether.fi Cash comes out $22.50 ahead. In our own tests, Ethena Pay’s purchases in AUD cost 1.08% over the market rate (4 purchases), and ether.fi Cash’s purchases outside US dollars cost 1.32% over the market rate (73 purchases). Only ether.fi Cash is open to people in the US, the UK and the EU.
Terms checked Ethena Pay , ether.fi Cash How we work it out
In US dollars. FX on AUD spending is included.
Ethena Pay pays back $30.00 more a month than ether.fi Cash at this spend.
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| Detail | Ethena Pay | ether.fi Cash |
|---|---|---|
| Plan at this spend | Standard | Core |
| Paid in | AVAX | ETHFI |
| FX on your spend | 1.3% | 1.8% |
| Yearly fee | None | $199 or $999 |
| Network | Visa | Visa |
| Card type | Credit | Credit |
| Custody | Self-custody | Self-custody |
| Available in | Australia, Asia-Pacific, Elsewhere (not Indonesia, Israel, South Korea, Nigeria, Turkey, Taiwan) | US, UK, EU, Australia, Asia-Pacific, Elsewhere (not Israel, Turkey) |
| Perks | Earn yield | Lounge access, Travel insurance, Purchase protection, Concierge, Discounts & offers, Earn yield, Borrow vs crypto, Metal card |
FX marked measured is what we paid on our own purchases. The rest are worked out from each card's terms. How we work out FX
General information only. These figures are calculated from the spend you enter and the card terms we've collected. We haven't considered your objectives, financial situation or needs, and this isn't a recommendation. Consider whether a card suits you and read the provider's terms before applying. Figures are estimates, terms change, and crypto is volatile.
Ethena Pay
- 4% back on the first $2,500 a month on the free Standard tier
- No issuance, monthly or subscription fee, and no Ethena Pay FX markup
- Self-custodial: the card is secured by assets in your own wallet
- Cashback is paid in AVAX, so its dollar value moves with the market
- Standard pays 1% from $2,500 to $4,000 and nothing above $4,000 a month
ether.fi Cash
- 3% cashback on the first $2,000/mo (Core), scaling to $10k (Luxe) / $50k (Pinnacle), and 4% on VIP
- Self-custodial: spend from your own Safe vault
- Collateral keeps earning staking yield via Borrow Mode
- Cashback is now paid in ETHFI, a volatile token, rather than the USDC it previously credited
- Cashback rate steps down sharply above the 3% band (1% then 0.5%)
More: other comparisons, every card at your spend, or the cashback list.