tradingstrategy-ai · miohtama · Jul 3, 2026 · Jul 3, 2026
diff --git a/src/lib/top-vaults/TopVaultsPage.svelte b/src/lib/top-vaults/TopVaultsPage.svelte
@@ -63,6 +63,10 @@
 		totalVaultCount?: number;
 		/** Include blacklisted vaults in the listing summary stats. */
 		includeBlacklistedInStats?: boolean;
+		/** Exclude vaults above this TVL from listing summary TVL and TVL-weighted stats. */
+		maxSummaryTvlUsd?: number;
+		/** Do not visually strike through blacklisted vault rows. */
+		disableBlacklistedStrikethrough?: boolean;
 	}
 
 	let {
@@ -91,7 +95,9 @@
 		detailDescription,
 		beforeTable,
 		totalVaultCount,
-		includeBlacklistedInStats
+		includeBlacklistedInStats,
+		maxSummaryTvlUsd,
+		disableBlacklistedStrikethrough
 	}: Props = $props();
 
 	let renderDetailAsideInHero = $derived(
@@ -219,6 +225,8 @@
 					{defaultSort}
 					{defaultDirection}
 					{includeBlacklistedInStats}
+					{maxSummaryTvlUsd}
+					{disableBlacklistedStrikethrough}
 				/>
 			{:else if !topVaults?.vaults.length}
 				{#if stablecoinMetadata}
@@ -245,6 +253,8 @@
 					{defaultSort}
 					{defaultDirection}
 					{includeBlacklistedInStats}
+					{maxSummaryTvlUsd}
+					{disableBlacklistedStrikethrough}
 				/>
 			{/if}
 		</div>

diff --git a/src/lib/top-vaults/TopVaultsTable.svelte b/src/lib/top-vaults/TopVaultsTable.svelte
@@ -118,6 +118,10 @@
 		totalVaultCount?: number;
 		/** Include blacklisted vaults in the listing summary stats. */
 		includeBlacklistedInStats?: boolean;
+		/** Exclude vaults above this TVL from listing summary TVL and TVL-weighted stats. */
+		maxSummaryTvlUsd?: number;
+		/** Do not visually strike through blacklisted vault rows. */
+		disableBlacklistedStrikethrough?: boolean;
 	}
 
 	const emptyTopVaults: TopVaults = {
@@ -147,7 +151,9 @@
 		defaultDirection,
 		loading = false,
 		totalVaultCount: totalVaultCountProp,
-		includeBlacklistedInStats = false
+		includeBlacklistedInStats = false,
+		maxSummaryTvlUsd,
+		disableBlacklistedStrikethrough = false
 	}: Props = $props();
 
 	// --- Sort column registry (key → compareFn + default direction) ---
@@ -491,15 +497,22 @@
 		includeBlacklistedInStats ? filteredVaults : filteredVaults.filter((v) => !isBlacklisted(v))
 	);
 
+	let statsVaultsWithTvl = $derived(
+		statsVaults.map((v) => ({
+			...v,
+			current_nav: getVaultCurrentTvlUsd(v)
+		}))
+	);
+
 	// Calculate total TVL from fully-filtered vaults
-	let totalTvl = $derived(calculateTotalTvl(statsVaults.map((v) => ({ current_nav: getVaultCurrentTvlUsd(v) }))));
+	let totalTvl = $derived(calculateTotalTvl(statsVaultsWithTvl, { maxTvlUsd: maxSummaryTvlUsd }));
 
 	// Calculate TVL-weighted average 1M APY from fully-filtered vaults
 	let avgTvlWeightedApy1M = $derived(
-		calculateTvlWeightedApy(
-			statsVaults.map((v) => ({ ...v, current_nav: getVaultCurrentTvlUsd(v) })),
-			{ includeBlacklisted: includeBlacklistedInStats }
-		)
+		calculateTvlWeightedApy(statsVaultsWithTvl, {
+			includeBlacklisted: includeBlacklistedInStats,
+			maxTvlUsd: maxSummaryTvlUsd
+		})
 	);
 
 	// sort vaults
@@ -1035,7 +1048,7 @@
 					{@const statusReason = [vault.deposit_closed_reason, vault.redemption_closed_reason]
 						.filter(Boolean)
 						.join('; ')}
-					<tr class={['targetable', blacklisted && 'blacklisted']}>
+					<tr class={['targetable', blacklisted && !disableBlacklistedStrikethrough && 'blacklisted']}>
 						<!-- index cell is populated with row index via `rowNumber` CSS counter -->
 						<td class="index"></td>
 						{#if showChainCol}

diff --git a/src/lib/top-vaults/helpers.test.ts b/src/lib/top-vaults/helpers.test.ts
@@ -25,6 +25,7 @@ import {
 	getVaultTvlNative,
 	isNonUsdDenominatedVault,
 	withVaultDenominationTokenRate,
+	calculateTotalTvl,
 	calculateTvlWeightedApy
 } from './helpers';
 import type { StablecoinMetadata } from '$lib/stablecoin-metadata/schemas';
@@ -134,6 +135,30 @@ describe('calculateTvlWeightedApy', () => {
 
 		expect(calculateTvlWeightedApy([included, blacklisted], { includeBlacklisted: true })).toBe(0.4);
 	});
+
+	test('excludes vaults above the max TVL from the weighted average', () => {
+		const included = createTestVault('Included vault', {
+			current_nav: 100_000,
+			one_month_cagr: 0.1
+		});
+		const abnormal = createTestVault('Abnormal TVL vault', {
+			current_nav: 2_000_000_000,
+			one_month_cagr: 1
+		});
+
+		expect(calculateTvlWeightedApy([included, abnormal], { maxTvlUsd: 1_000_000_000 })).toBe(0.1);
+	});
+});
+
+describe('calculateTotalTvl', () => {
+	test('excludes non-finite and above-threshold TVL values when requested', () => {
+		expect(
+			calculateTotalTvl(
+				[{ current_nav: 100_000 }, { current_nav: 2_000_000_000 }, { current_nav: Number.POSITIVE_INFINITY }],
+				{ maxTvlUsd: 1_000_000_000 }
+			)
+		).toBe(100_000);
+	});
 });
 
 describe('hasSupportedProtocol', () => {

diff --git a/src/lib/top-vaults/helpers.ts b/src/lib/top-vaults/helpers.ts
@@ -24,6 +24,8 @@ export const MIN_TVL_THRESHOLD = 10_000;
 
 /** Default TVL threshold - global and per-chain */
 export const DEFAULT_TVL_THRESHOLD = 50_000;
+/** Maximum TVL value included in listing summary totals. Higher values are treated as broken scanner data. */
+export const MAX_SUMMARY_TVL_USD = 1_000_000_000;
 // prettier-ignore
 const CHAIN_TVL_THRESHOLD_OVERRIDES = new Map([
   [HYPERCORE_CHAIN_ID, 1_000_000]
@@ -556,6 +558,7 @@ type TvlWeightedApyVault = Pick<VaultInfo, 'current_nav' | 'one_month_cagr_net'
 
 interface TvlWeightedApyOptions {
 	includeBlacklisted?: boolean;
+	maxTvlUsd?: number;
 }
 
 /**
@@ -576,7 +579,9 @@ export function calculateTvlWeightedApy(
 		const tvl = vault.current_nav ?? 0;
 		const apy = vault.one_month_cagr_net ?? vault.one_month_cagr;
 
-		if (tvl > 0 && apy != null && apy <= MAX_APY_THRESHOLD) {
+		if (options.maxTvlUsd != null && tvl > options.maxTvlUsd) continue;
+
+		if (Number.isFinite(tvl) && tvl > 0 && apy != null && apy <= MAX_APY_THRESHOLD) {
 			weightedSum += tvl * apy;
 			tvlSum += tvl;
 		}
@@ -588,8 +593,16 @@ export function calculateTvlWeightedApy(
 /**
  * Calculate total TVL for an array of vaults
  */
-export function calculateTotalTvl(vaults: Pick<VaultInfo, 'current_nav'>[]): number {
-	return vaults.reduce((sum, v) => sum + (v.current_nav ?? 0), 0);
+export function calculateTotalTvl(
+	vaults: Pick<VaultInfo, 'current_nav'>[],
+	options: { maxTvlUsd?: number } = {}
+): number {
+	return vaults.reduce((sum, v) => {
+		const tvl = v.current_nav ?? 0;
+		if (!Number.isFinite(tvl)) return sum;
+		if (options.maxTvlUsd != null && tvl > options.maxTvlUsd) return sum;
+		return sum + tvl;
+	}, 0);
 }
 
 /**

diff --git a/src/routes/trading-view/vaults/blacklisted/+page.svelte b/src/routes/trading-view/vaults/blacklisted/+page.svelte
@@ -4,7 +4,12 @@ Blacklisted vault listing.
 <script lang="ts">
 	import type { TopVaults } from '$lib/top-vaults/schemas';
 	import { fetchAllVaultData, hasVaultCache } from '$lib/top-vaults/client-cache';
-	import { getVaultCurrentTvlUsd, isBlacklisted } from '$lib/top-vaults/helpers';
+	import {
+		MAX_SUMMARY_TVL_USD,
+		calculateTotalTvl,
+		getVaultCurrentTvlUsd,
+		isBlacklisted
+	} from '$lib/top-vaults/helpers';
 	import { formatDollar } from '$lib/helpers/formatters';
 	import { page } from '$app/state';
 	import TopVaultsPage from '$lib/top-vaults/TopVaultsPage.svelte';
@@ -13,10 +18,6 @@ Blacklisted vault listing.
 	let topVaults = $state<TopVaults>();
 	let loading = $state(!hasVaultCache(page.data.generatedAt));
 
-	function isBlacklistedRankingVault(vault: TopVaults['vaults'][number]): boolean {
-		return isBlacklisted(vault) || vault.flags.includes('paused');
-	}
-
 	$effect(() => {
 		fetchAllVaultData(page.data.generatedAt)
 			.then((data) => (topVaults = data))
@@ -28,18 +29,23 @@ Blacklisted vault listing.
 		topVaults && {
 			...topVaults,
 			vaults: topVaults.vaults
-				.filter(isBlacklistedRankingVault)
+				.filter(isBlacklisted)
 				.toSorted((a, b) => (getVaultCurrentTvlUsd(b) ?? 0) - (getVaultCurrentTvlUsd(a) ?? 0))
 		}
 	);
 
 	const title = 'Blacklisted DeFi stablecoin vaults';
 	const description = 'Blacklisted DeFi stablecoin vaults, sorted by current TVL.';
 	let blacklistedTvl = $derived(
-		blacklistedTopVaults?.vaults.reduce((sum, vault) => sum + (getVaultCurrentTvlUsd(vault) ?? 0), 0) ?? 0
+		calculateTotalTvl(
+			blacklistedTopVaults?.vaults.map((vault) => ({ current_nav: getVaultCurrentTvlUsd(vault) })) ?? [],
+			{ maxTvlUsd: MAX_SUMMARY_TVL_USD }
+		)
 	);
+	let blacklistedCountText = $derived(blacklistedTopVaults ? String(blacklistedTopVaults.vaults.length) : '-');
+	let blacklistedTvlText = $derived(blacklistedTopVaults ? formatDollar(blacklistedTvl, 0) : '-');
 	let subtitle = $derived(
-		`Blacklisted ${blacklistedTopVaults?.vaults.length ?? 0} vaults and ${formatDollar(blacklistedTvl, 0)} TVL. Blacklisting reasons include illiquidity, depegging of the denomination currency and suspicious activities.`
+		`Blacklisted ${blacklistedCountText} vaults and ${blacklistedTvlText} TVL (some of this TVL is likely to be fake). Blacklisting reasons include illiquidity, depegging of the denominating fiat token, being a subvault of a composite, and suspicious activities.`
 	);
 	let pageUrl = $derived(new URL(page.url.pathname, page.url.origin).href);
 </script>
@@ -72,6 +78,8 @@ Blacklisted vault listing.
 	{loading}
 	includeBlacklisted
 	includeBlacklistedInStats
+	maxSummaryTvlUsd={MAX_SUMMARY_TVL_USD}
+	disableBlacklistedStrikethrough
 	title="Blacklisted stablecoin vaults"
 	{subtitle}
 	showFilters

diff --git a/tests/integration/trading-view/vaults/index.test.ts b/tests/integration/trading-view/vaults/index.test.ts
@@ -135,17 +135,28 @@ test.describe('vault index page', () => {
 
 		const rows = page.locator('tbody tr.targetable');
 		await expect(rows).toHaveCount(3);
-		await expect(rows.first()).toContainText('atvPTmax');
-		await expect(rows.nth(1)).toContainText('Paused blacklisted only vault');
+		await expect(rows.first()).toContainText('Abnormal TVL blacklisted vault');
+		await expect(rows.first()).not.toHaveClass(/blacklisted/);
+		await expect(rows.first().locator('td').first()).toHaveCSS('text-decoration-line', 'none');
+		await expect(rows.nth(1)).toContainText('atvPTmax');
 		await expect(rows.nth(2)).toContainText('Morpho flagged blacklisted vault');
+		await expect(
+			page.getByText(/Blacklisted 3 vaults and \$8M TVL \(some of this TVL is likely to be fake\)\./)
+		).toBeVisible();
+		await expect(
+			page.getByText(
+				'Blacklisting reasons include illiquidity, depegging of the denominating fiat token, being a subvault of a composite, and suspicious activities.'
+			)
+		).toBeVisible();
 		await expect(page.getByTestId('top-vaults-meta')).toContainText('3 vaults out of');
+		await expect(page.getByTestId('top-vaults-meta')).toContainText('TVL $8M');
 		await expect(page.getByTestId('top-vaults-meta')).toContainText('Avg. return 20.00%');
 	});
 
 	test('displays vault count in table meta', async ({ page }) => {
 		const meta = page.getByTestId('top-vaults-meta');
-		// Should show 255 vaults (those above TVL threshold)
-		await expect(meta).toContainText('255 vaults');
+		// Should show 254 vaults (those above TVL threshold)
+		await expect(meta).toContainText('254 vaults');
 	});
 
 	test('renders initial batch of 150 rows', async ({ page }) => {
@@ -186,9 +197,9 @@ test.describe('vault index page', () => {
 		await sentinel.scrollIntoViewIfNeeded();
 		await expect(rows).toHaveCount(250);
 
-		// scroll a third time - loads the final 5
+		// scroll a third time - loads the final 4
 		await sentinel.scrollIntoViewIfNeeded();
-		await expect(rows).toHaveCount(255);
+		await expect(rows).toHaveCount(254);
 
 		// all rows loaded - no more sentinel
 		await expect(sentinel).not.toBeVisible();

diff --git a/tests/mocks/top-vaults/list.mock.ts b/tests/mocks/top-vaults/list.mock.ts
@@ -354,12 +354,14 @@ const morphoFlaggedBlacklistedVault = createTestVault('Morpho flagged blackliste
 	]
 });
 
-const pausedBlacklistedOnlyVault = createTestVault('Paused blacklisted only vault', {
-	chain: 'base',
-	protocol: 'Concrete',
-	current_nav: 50_000,
-	peak_nav: 75_000,
-	flags: ['paused']
+const abnormalTvlBlacklistedVault = createTestVault('Abnormal TVL blacklisted vault', {
+	chain: 'arbitrum',
+	protocol: '<protocol not yet identified>',
+	current_nav: 2_000_000_000,
+	peak_nav: 2_000_000_000,
+	risk: 'Blacklisted',
+	flags: ['abnormal_tvl'],
+	notes: 'The TVL on this vault is abnormal'
 });
 
 const closedVaultPeriodResult = {
@@ -510,8 +512,8 @@ export default defineMock({
 		curators,
 		vaults: [
 			yamlStrategyVault,
+			abnormalTvlBlacklistedVault,
 			morphoFlaggedBlacklistedVault,
-			pausedBlacklistedOnlyVault,
 			depositDisabledVault,
 			redemptionDisabledVault,
 			depositAndRedemptionDisabledVault,