Stablecoin cost basis

The one thing I’ve become confused by is how stablecoin cost basis is being calculated and reflected in my portfolio. For example, I traded USDT for USDC on kraken and the transaction is showing a £45 ($60 approx) gain…

I’m in the UK and I use the share pooling calculation…Could this be the issue? How can I resolve it?
Best,

If the gain is within ~+/-3% then it’s normal and expected because stablecoins aren’t perfectly stable. If it is more than that, there is likely another issue going on. You should verify that nothing on this list applies to your account and then if you are still seeing an issue, please contact us directly.

Hi, for me there is something else going on…My USDC holding is showing as I’m up 130% and when I buy tether it’s always showing that my average price per tehter is like above the peg.