Morpho Watch

WETH on Morpho

Wrapped Ether (WETH) on Morpho, on every network: $124.9M in 32 vaults, $136.6M lent in 31 markets, $184.3M posted as collateral in 19 markets. Rates differ between vaults and markets because each has its own borrowers, collateral and curator.

Data from Morpho's API · updated

Best vault net APY

6.54%

Re7 WETH

Best market supply APY

3.02%

against wstETH, Ethereum

Cheapest to borrow

1.61%

against wstETH, Monad

Posted as collateral

$184.3M

19 markets

Earn on WETH: vaults

Deposit WETH and a curator lends it out for you. Net APY is after the curator's fee.

Vaults that take WETH
Vault Deposits Net APY 30‑day APY Fee Withdrawable
Steakhouse Prime ETHV2Steakhouse Financial · Ethereum · $24.11M $24.11M11.97K WETH 2.04% 1.92% 5% $6.15M
Steakhouse Prime ETHV2Steakhouse Financial · Monad · $20.30M $20.30M10.11K WETH 2.44%incl. 1.19% rewards 1.42% 10% $3.44M
Gauntlet WETH PrimeV2Gauntlet · Ethereum · $19.85M $19.85M9.85K WETH 2.46% 2.03% 0% $19.5K
Vault Bridge WETH⚠ Deposits switched offGauntlet · Ethereum · $12.63M $12.63M6.27K WETH 2.02% 1.73% 5% $8.06M
Steakhouse ETHSteakhouse Financial · Ethereum · $7.15M $7.15M3.55K WETH 2.75% 1.91% 5% $5.04M
Gauntlet WETH Prime⚠ Deposits switched offGauntlet · Ethereum · $6.24M $6.24M3.10K WETH 2.41% 1.92% 5% $5.44M
Galaxy WETH QualityV2Galaxy Curation · Ethereum · $4.45M $4.45M2.21K WETH 2.90% 2.15% 0%+0.2% a year $1.35M
MEV Capital wETHMEV Capital · Ethereum · $3.74M $3.74M1.86K WETH 2.60% 1.80% 10% $3.74M
Clearstar Core ETHV2Clearstar · Base · $3.32M $3.32M1.65K WETH 1.57% 1.61% 0% $749K
Moonwell Flagship ETHAnthias Labs · Base · $3.24M $3.24M1.61K WETH 1.32%incl. 0.11% rewards 1.15% 15% $872K
Uniswap ETHV2Gauntlet · Ethereum · $2.51M $2.51M1.24K WETH 2.57% 1.89% 0% $2.0K
KPK ETH YieldV2KPK · Ethereum · $1.98M $1.98M984.09 WETH 2.76% 2.90% 0% $390K
Steakhouse Prime ETHV2Steakhouse Financial · Base · $1.98M $1.98M981.27 WETH 1.47% 1.49% 5% $547K
Gauntlet WETH BalancedV2Gauntlet · Base · $1.89M $1.89M938.04 WETH 1.63% 1.73% 0% $756K
Gauntlet LRT CoreGauntlet · Ethereum · $1.76M $1.76M874.27 WETH 2.10% 1.82% 10% $1.74M
Re7 WETHV2RE7 Labs · OP Mainnet · $1.69M $1.69M839.17 WETH 6.54%incl. 4.80% rewards 1.35% 10% $150K
Kabu WETHV2Api3 · Base · $1.47M $1.47M729.35 WETH 1.71% 1.62% 5% $547K
Index Coop hyETHGauntlet · Ethereum · $1.31M $1.31M651.30 WETH 2.60% 1.80% 10% $1.31M
Yearn OG WETHYearn · Ethereum · $1.06M $1.06M528.58 WETH 2.87% 1.97% 5% $1.06M
Gauntlet WETH CoreGauntlet · Base · $999K $999K495.82 WETH 1.45% 1.60% 10% $857K
Gauntlet WETH BalancedV2Gauntlet · Ethereum · $959K $959K476.21 WETH 2.32% 2.02% 0% $769K
KPK ETH PrimeV2KPK · Ethereum · $722K $722K358.36 WETH 1.50% 2.25% 0% $0
Re7 WETH⚠ Deposits switched offRE7 Labs · Ethereum · $578K $578K286.85 WETH 2.31% 1.62% 20% $578K
SingularV ETHV2SingularV · Ethereum · $397K $397K196.88 WETH 2.05% 1.84% 5% $387K
Compound WETH⚠ Deposits switched offGauntlet · Polygon · $176K $176K87.80 WETH 0.03% 0.02% 10% $176K
Gauntlet WETH⚠ Deposits switched offGauntlet · Unichain · $157K $157K78.05 WETH 4.15% 3.59% 10% $91.0K
Extrafi XLend WETH⚠ Deposits switched offGauntlet · Base · $131K $131K65.16 WETH 1.33% 1.41% 10% $51.7K
Clearstar ETH ReactorClearstar · Base · $67.9K $67.9K33.72 WETH 1.68% 2.18% 8% $32.3K
Steakhouse ETH⚠ Deposits switched offSteakhouse Financial · Base · $38.1K $38.1K18.90 WETH 0.00% 0.00% 5% $38.1K
SingularV ETHSingularV · Ethereum · $15.4K $15.4K7.62 WETH 0.00% 1.09% 10% $0
RockawayX wETHV2RockawayX · Ethereum · $2.8K $2.8K1.40 WETH 6.83% 13.23% 5% $228
UltraYield WETH CoreV2UltraYield · Ethereum · $0 $00 WETH 0.00% 0.00% 0% $0

Borrow WETH: markets

Markets that lend out WETH, each against one kind of collateral.

Markets that lend WETH
Market Supplied Supply APY Borrowed Borrow APY Utilization
wstETH / WETHEthereum · LLTV 96.5% $64.58M32.06K WETH 2.14% $58.42M$64.97M collateral 2.37% 90.5%
wstETH / WETHMonad · LLTV 94.5% $25.80M12.84K WETH 1.39%+1.19% rewards $22.36M$24.92M collateral 1.61% 86.7%
wstETH / WETHEthereum · LLTV 94.5% $16.67M8.28K WETH 3.02% $15.32M$16.66M collateral 3.29% 91.9%
weETH / WETHEthereum · LLTV 94.5% $7.82M3.88K WETH 3.02% $7.17M$7.78M collateral 3.30% 91.7%
cbETH / WETHBase · LLTV 94.5% $7.32M3.63K WETH 1.57% $6.57M$7.58M collateral 1.75% 89.8%
wstETH / WETHBase · LLTV 94.5% $5.37M2.67K WETH 1.54% $4.82M$5.41M collateral 1.71% 89.8%
savETH / WETHEthereum · LLTV 91.5% $2.83M1.40K WETH 2.89% $2.44M$3.61M collateral 3.36% 86.2%
wstETH / WETHOP Mainnet · LLTV 94.5% $1.72M855.64 WETH 1.93% $1.57M$1.81M collateral 2.12% 91.2%
weETH / WETHBase · LLTV 94.5% $1.20M594.13 WETH 1.52% $1.09M$1.31M collateral 1.67% 90.7%
wstETH / WETHUnichain · LLTV 96.5% $602K299.66 WETH 4.85% $519K$544K collateral 5.66% 86.1%
weETH / WETHBase · LLTV 91.5% $434K215.72 WETH 1.92% $381K$428K collateral 2.19% 87.8%
rETH / WETHEthereum · LLTV 94.5% $362K179.64 WETH 0.00% $24.00$151 collateral 0.52% <0.01%
wstETH / WETHBase · LLTV 96.5% $316K157.06 WETH 1.58% $283K$305K collateral 1.77% 89.4%
VVV / WETHBase · LLTV 62.5% $230K114.32 WETH 3.16% $208K$395K collateral 3.50%−3.50% rewards 90.5%
LsETH / WETHEthereum · LLTV 86% $229K113.52 WETH 4.77% $204K$312K collateral 5.35% 89.3%
wsuperOETHb / WETHBase · LLTV 91.5% $221K109.94 WETH 1.92% $197K$225K collateral 2.16% 89.1%
cbBTC / WETHBase · LLTV 91.5% $173K85.69 WETH 1.39% $154K$321K collateral 1.56% 89.5%
WBTC / WETHEthereum · LLTV 91.5% $154K76.30 WETH 0.01% $37.3K$56.3K collateral 0.05% 24.3%
yoETH / WETHBase · LLTV 91.5% $152K75.51 WETH 1.83% $124K$165K collateral 2.25% 81.7%
cbBTC / WETHEthereum · LLTV 91.5% $146K72.31 WETH 0.03% $66.7K$99.1K collateral 0.06% 45.8%
rETH / WETHBase · LLTV 94.5% $81.9K40.65 WETH 1.48% $73.6K$85.5K collateral 1.65% 89.9%
cbBTC / WETHEthereum · LLTV 91.5% $51.1K25.39 WETH 2.76% $46.6K$68.7K collateral 3.03% 91.2%
USDC / WETHBase · LLTV 86% $32.8K16.31 WETH <0.01% $7.4K$16.9K collateral 0.04% 22.6%
wstETH / WETHEthereum · LLTV 94.5% $31.4K15.60 WETH 2.07% $28.4K$34.4K collateral 2.29% 90.4%
MORPHO / WETHBase · LLTV 77% $25.8K12.81 WETH 3.18% $23.5K$77.5K collateral 3.50%−3.50% rewards 90.9%
cbETH / WETHBase · LLTV 96.5% $22.2K11.02 WETH 1.61% $19.9K$26.2K collateral 1.79% 89.9%
weETH / WETHEthereum · LLTV 86% $2.2K1.09 WETH 0.09% $2.0K$38.2K collateral 0.10% 89.5%
ETH+ / WETHEthereum · LLTV 94.5% $2.0K0.97 WETH 10.76% $1.7K$2.4K collateral 12.27% 88.3%
VIRTUAL / WETHBase · LLTV 77% $1.6K0.774 WETH 3.17% $1.4K$2.9K collateral 3.50%−3.50% rewards 90.7%
cbDOGE / WETHBase · LLTV 77% $1.4K0.701 WETH 3.17% $1.3K$2.0K collateral 3.50%−3.50% rewards 90.6%
ezETH / WETHEthereum · LLTV 94.5% $1.2K0.604 WETH 0.51% $834$3.2K collateral 0.74% 68.6%

Borrow against WETH

Markets that accept WETH as collateral. The LLTV is the loan-to-value at which a loan can be liquidated.

Markets that accept WETH as collateral
Market Supplied Supply APY Borrowed Borrow APY Utilization
WETH / USDCBase · LLTV 86% $106.7M106.72M USDC 4.52% $90.66M$167.1M collateral 5.34% 85.0%
WETH / USDCEthereum · LLTV 86% $9.33M9.34M USDC 4.48% $8.09M$15.26M collateral 5.18% 86.7%
WETH / EURCBase · LLTV 86% $382K346.01K EURC 6.86% $368K$736K collateral 7.13% 96.3%
WETH / USDTEthereum · LLTV 86% $340K340.02K USDT 2.99% $286K$470K collateral 3.57% 84.2%
WETH / USDCArbitrum · LLTV 86% $155K155.41K USDC 6.65% $145K$291K collateral 7.16% 93.2%
WETH / USDT0Arbitrum · LLTV 86% $58.0K58.01K USDT0 3.24% $51.0K$103K collateral 3.69% 88.0%
WETH / tGBPEthereum · LLTV 86% $59.1K44.66K tGBP 1.00% $53.2K$95.0K collateral 1.11% 90.0%
WETH / EURCEthereum · LLTV 86% $28.5K25.84K EURC 2.35% $24.4K$65.4K collateral 2.76% 85.5%
WETH / USDCArc · LLTV 86% $39.0K39.03K USDC 12.28% $38.8K$61.5K collateral 12.35%−0.14% rewards 99.5%
WETH / AUSDMonad · LLTV 86% $23.0K23.06K AUSD 2.30% $19.1K$26.5K collateral 2.78% 83.1%
WETH / mUSDMonad · LLTV 86% $98.6K98.64K mUSD 0.05% $10.7K$21.9K collateral 0.43% 10.8%
WETH / USDCMonad · LLTV 86% $10.9K10.88K USDC 1.82% $9.8K$17.9K collateral 2.02% 90.0%
WETH / USDCOP Mainnet · LLTV 86% $2.6K2.61K USDC 32.93% $2.4K$6.1K collateral 35.91% 92.8%
WETH / XSGDBase · LLTV 86% $2.6K3.37K XSGD 0.68% $2.4K$4.7K collateral 0.76% 90.0%
WETH / USDSEthereum · LLTV 86% $2.1K2.15K USDS 19.99% $2.0K$4.3K collateral 21.68% 92.9%
WETH / AUSDEthereum · LLTV 86% $1.5K1.48K AUSD 3.77% $1.4K$3.4K collateral 3.98% 94.7%
WETH / EURCEthereum · LLTV 86% $1.7K1.58K EURC 0.09% $1.6K$2.4K collateral 0.10% 89.0%
WETH / EUReArbitrum · LLTV 86% $1.8K1.67K EURe 0.16% $938$2.0K collateral 0.31% 51.0%
WETH / wARSEthereum · LLTV 62.5% $10.8K18.01M wARS 0.00% $10.00$20.00 collateral 0.03% 0.1%

About WETH on Morpho

Wrapped Ether (WETH) is on Morpho on 8 networks: Ethereum, Monad, Base, OP Mainnet, Polygon, Unichain, Arbitrum and Arc. Morpho prices it at $2.0K.

32 vaults take WETH deposits, holding $124.9M in all. The largest is Steakhouse Prime ETH on Ethereum, curated by Steakhouse Financial, with $24.11M deposited and paying 2.04% net APY after fees.

WETH is lent out in 31 markets, with $136.6M supplied and $122.1M borrowed. The largest is wstETH / WETH on Ethereum, where borrowers pay 2.37% and lenders earn 2.14%.

As collateral, $184.3M of WETH backs $99.76M of loans in 19 markets, which lend USDC, EURC, USDT and USDT0 and 7 other assets against it. They liquidate a loan at between 62.5% and 86% of the collateral's value. The largest is WETH / USDC on Base, where borrowers pay 5.34%.

WETH on Morpho: quick answers

Where can I earn the most on WETH on Morpho?

Re7 WETH on OP Mainnet pays 6.54% net APY (4.80% of it in token rewards, which can stop at any time), the most among WETH vaults open to deposits with at least $1M in them. The largest WETH vault, Steakhouse Prime ETH, pays 2.04% net APY.

Where is it cheapest to borrow WETH on Morpho?

Borrowing WETH against wstETH on Monad costs 1.61% a year, the lowest among markets in use with at least $250K left to borrow.

Can I borrow against WETH on Morpho?

Yes: 19 markets accept WETH as collateral, with liquidation LTVs up to 86.0%. The largest is WETH / USDC on Base, where borrowers pay 5.34%.

Which networks is WETH on Morpho available on?

Ethereum, Monad, Base, OP Mainnet, Polygon, Unichain, Arbitrum and Arc.

Borrowing against WETH? Check your numbers with the liquidation price calculator. More assets on the assets page.