Full-spectrum dependent types promise to enable the development of correct-by-construction software. However, even certified software needs to interact with simply-typed or untyped programs, be it to perform system calls, or to use legacy libraries. Trading static guarantees for runtime checks, the dependent interoperability framework provides a mechanism by which simply-typed values can safely be coerced to dependent types and, conversely, dependently-typed programs can defensively be exported to a simply-typed application. In this article, we give a semantic account of dependent interoperability. Our presentation relies on and is guided by a pervading notion of type equivalence, whose importance has been emphasized in recent work on homot...