diff --git a/src/components/pages/vaults/components/table/apyDisplayConfig.test.tsx b/src/components/pages/vaults/components/table/apyDisplayConfig.test.tsx
index d19e94544..c2b1d0d0a 100644
--- a/src/components/pages/vaults/components/table/apyDisplayConfig.test.tsx
+++ b/src/components/pages/vaults/components/table/apyDisplayConfig.test.tsx
@@ -39,6 +39,19 @@ const KATANA_APY_DATA = {
   katanaEstApr: 7
 } as TVaultApyData
 
+const KATANA_APY_DATA_WITHOUT_REWARDS = {
+  ...KATANA_APY_DATA,
+  katanaExtras: {
+    katanaAppRewardsAPR: 0,
+    steerPointsPerDollar: 1
+  }
+} as TVaultApyData
+
+const KATANA_VAULT_WITHOUT_FIXED_TERM_MARKET = {
+  ...KATANA_SPECTRA_VAULT,
+  address: '0x0000000000000000000000000000000000000002'
+} as TKongVaultInput
+
 const PENDLE_ARB_VAULT = {
   chainID: 1,
   address: '0x0000000000000000000000000000000000000001',
@@ -88,6 +101,41 @@ describe('resolveForwardApyDisplayConfig', () => {
     expect(isValidElement(tooltip?.content)).toBe(true)
     expect(renderToStaticMarkup(tooltip?.content)).toContain('+ 2500 ARB/week')
   })
+
+  it('does not show a Katana tooltip without KAT rewards or a fixed-rate market', () => {
+    const { displayConfig, modalConfig } = resolveForwardApyDisplayConfig({
+      currentVault: KATANA_VAULT_WITHOUT_FIXED_TERM_MARKET,
+      data: KATANA_APY_DATA_WITHOUT_REWARDS,
+      displayVariant: 'default',
+      showSubline: true,
+      showSublineTooltip: true,
+      showBoostDetails: true,
+      canOpenModal: true
+    })
+
+    expect(displayConfig.tooltip?.mode).toBe('none')
+    expect(displayConfig.tooltip?.content).toBeNull()
+    expect(displayConfig.showUnderline).toBe(false)
+    expect(modalConfig).toBeUndefined()
+  })
+
+  it('shows fixed-rate information without claiming the vault receives KAT rewards', () => {
+    const { displayConfig, modalConfig } = resolveForwardApyDisplayConfig({
+      currentVault: KATANA_SPECTRA_VAULT,
+      data: KATANA_APY_DATA_WITHOUT_REWARDS,
+      displayVariant: 'default',
+      showSubline: true,
+      showSublineTooltip: true,
+      showBoostDetails: true,
+      canOpenModal: true
+    })
+
+    const tooltipMarkup = renderToStaticMarkup(displayConfig.tooltip?.content)
+    expect(displayConfig.tooltip?.mode).toBe('tooltip')
+    expect(tooltipMarkup).toContain('Fixed-rate markets available on Spectra')
+    expect(tooltipMarkup).not.toContain('receiving KAT incentives')
+    expect(modalConfig).toBeUndefined()
+  })
 })
 
 describe('resolveHistoricalApyDisplayConfig', () => {
@@ -104,4 +152,17 @@ describe('resolveHistoricalApyDisplayConfig', () => {
       expect(modalConfig.content.props.isEligibleForSpectraBoost).toBe(true)
     }
   })
+
+  it('does not show a Katana tooltip without KAT rewards or a fixed-rate market', () => {
+    const { displayConfig, modalConfig } = resolveHistoricalApyDisplayConfig({
+      currentVault: KATANA_VAULT_WITHOUT_FIXED_TERM_MARKET,
+      data: KATANA_APY_DATA_WITHOUT_REWARDS,
+      showSublineTooltip: true
+    })
+
+    expect(displayConfig.tooltip?.mode).toBe('none')
+    expect(displayConfig.tooltip?.content).toBeNull()
+    expect(displayConfig.showUnderline).toBe(false)
+    expect(modalConfig).toBeUndefined()
+  })
 })
diff --git a/src/components/pages/vaults/components/table/apyDisplayConfig.tsx b/src/components/pages/vaults/components/table/apyDisplayConfig.tsx
index 57f9a4332..82bb1b76b 100644
--- a/src/components/pages/vaults/components/table/apyDisplayConfig.tsx
+++ b/src/components/pages/vaults/components/table/apyDisplayConfig.tsx
@@ -53,6 +53,7 @@ type TKatanaTooltipOptions = {
   fixedTermProviders: TFixedTermMarket[]
   fixedTermIcons: ReactElement[]
   fixedTermProviderLabel: string
+  hasKatanaRewards: boolean
   showModalCTA: boolean
   onRequestModalOpen?: () => void
 }
@@ -136,20 +137,22 @@ function buildKatanaTooltipContent({
   fixedTermProviders,
   fixedTermIcons,
   fixedTermProviderLabel,
+  hasKatanaRewards,
   showModalCTA,
   onRequestModalOpen
 }: TKatanaTooltipOptions): ReactElement {
   return (
     <div className={'rounded-lg border border-border bg-surface-secondary p-2 text-xs text-text-primary'}>
-      <div className={'flex items-center gap-2'}>
-        <span aria-hidden>{'⚔️'}</span>
-        <div className={'flex flex-col'}>
-          <span>{'This Vault is receiving KAT incentives'}</span>
-          <span>{'*There are conditions to earn this rate'}</span>
+      {hasKatanaRewards ? (
+        <div className={'flex items-center gap-2'}>
+          <span aria-hidden>{'⚔️'}</span>
+          <div className={'flex flex-col'}>
+            <span>{'This Vault is receiving KAT incentives'}</span>
+          </div>
         </div>
-      </div>
+      ) : null}
       {fixedTermProviders.length > 0 ? (
-        <div className={'mt-1 flex items-center gap-3'}>
+        <div className={hasKatanaRewards ? 'mt-1 flex items-center gap-3 mb-2' : 'flex items-center gap-3'}>
           <span className={'flex items-center gap-1 text-text-secondary'} aria-hidden={true}>
             {fixedTermIcons}
           </span>
@@ -251,17 +254,21 @@ export function resolveForwardApyDisplayConfig({
   const katanaExtras = data.katanaExtras
   const hasKatanaEstApr = typeof data.katanaEstApr === 'number'
   const isKatanaVault = chainID === KATANA_CHAIN_ID && katanaExtras && hasKatanaEstApr
+  const hasKatanaRewards = (katanaExtras?.katanaAppRewardsAPR ?? 0) > 0
+  const hasFixedTermMarket = fixedTermContext.fixedTermProviders.length > 0
+  const shouldShowKatanaTooltip = Boolean(isKatanaVault && (hasKatanaRewards || hasFixedTermMarket))
   const katanaTooltipContent =
-    showSublineTooltip && isKatanaVault
+    showSublineTooltip && shouldShowKatanaTooltip
       ? buildKatanaTooltipContent({
           fixedTermProviders: fixedTermContext.fixedTermProviders,
           fixedTermIcons: fixedTermContext.fixedTermIcons,
           fixedTermProviderLabel: fixedTermContext.fixedTermProviderLabel,
-          showModalCTA: canOpenModal,
+          hasKatanaRewards,
+          showModalCTA: canOpenModal && hasKatanaRewards,
           onRequestModalOpen
         })
       : null
-  const tooltipContent = katanaTooltipContent ?? standardTooltipContent
+  const tooltipContent = isKatanaVault ? katanaTooltipContent : standardTooltipContent
 
   const fixedRateIndicator = fixedTermContext.fixedTermIndicator
   const baseTooltipConfig: TApyTooltipConfig = {
@@ -290,7 +297,8 @@ export function resolveForwardApyDisplayConfig({
     )
     const modalContent = katanaDetails
 
-    const tooltipMode = allowTooltip ? resolveTooltipMode(canOpenModal, Boolean(tooltipContent)) : 'none'
+    const allowKatanaModal = canOpenModal && hasKatanaRewards
+    const tooltipMode = allowTooltip ? resolveTooltipMode(allowKatanaModal, Boolean(tooltipContent)) : 'none'
     const tooltipConfig = withTooltipMode(baseTooltipConfig, tooltipMode)
     const katanaEstApr = data.katanaEstApr ?? 0
     const displayConfig: TApyDisplayConfig = {
@@ -299,7 +307,7 @@ export function resolveForwardApyDisplayConfig({
       shouldRender: true,
       fallbackLabel: 'NEW',
       tooltip: tooltipConfig,
-      isInteractive: tooltipMode === 'tooltip+modal' && canOpenModal,
+      isInteractive: tooltipMode === 'tooltip+modal' && allowKatanaModal,
       showUnderline: tooltipMode !== 'none',
       showAsterisk: tooltipMode === 'tooltip+modal',
       subline: katanaSubline
@@ -574,19 +582,22 @@ export function resolveHistoricalApyDisplayConfig({
   const allowTooltip = allowTooltipBase && shouldRenderValue
 
   const katanaExtras = data.katanaExtras
-  const hasKatanaRewards = Boolean(shouldUseKatanaAPRs && katanaExtras && hasKatanaApr)
+  const hasKatanaRewards = Boolean(shouldUseKatanaAPRs && hasKatanaApr && (katanaExtras?.katanaAppRewardsAPR ?? 0) > 0)
+  const hasFixedTermMarket = fixedTermContext.fixedTermProviders.length > 0
+  const shouldShowKatanaTooltip = shouldUseKatanaAPRs && (hasKatanaRewards || hasFixedTermMarket)
   const allowModal = hasKatanaRewards && shouldRenderValue
   const katanaTooltipContent =
-    showSublineTooltip && hasKatanaRewards
+    showSublineTooltip && shouldShowKatanaTooltip
       ? buildKatanaTooltipContent({
           fixedTermProviders: fixedTermContext.fixedTermProviders,
           fixedTermIcons: fixedTermContext.fixedTermIcons,
           fixedTermProviderLabel: fixedTermContext.fixedTermProviderLabel,
+          hasKatanaRewards,
           showModalCTA: allowModal,
           onRequestModalOpen
         })
       : null
-  const tooltipContent = katanaTooltipContent ?? standardTooltipContent
+  const tooltipContent = shouldUseKatanaAPRs ? katanaTooltipContent : standardTooltipContent
 
   const fixedRateIndicator = fixedTermContext.fixedTermIndicator
   const baseTooltipConfig: TApyTooltipConfig = {