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Morpho Watch

wstETH on Morpho

Wrapped liquid staked Ether 2.0 (wstETH) on Morpho, on every network: $311K in 1 vault, $775.2M posted as collateral in 32 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

–

no vault with $1M+ deposited

Best market supply APY

–

no market with $1M+ supplied

Cheapest to borrow

–

no market with $250K+ available

Posted as collateral

$775.2M

32 markets

Earn on wstETH: vaults

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

Vaults that take wstETH
Vault Deposits Net APY 30-day APY Fee Withdrawable
Smokehouse WSTETH⚠ Deposit disabledSteakhouse Financial · Ethereum · $311K $311K93.03 wstETH 0.00% 0.00% 10% $311K

Borrow against wstETH

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

Markets that accept wstETH as collateral
Market Supplied Supply APY Borrowed Borrow APY Utilization
wstETH / USDTEthereum · LLTV 86% $127.1M127.10M USDT 4.37% $115.6M$414.1M collateral 4.81% 91.0%
wstETH / WETHEthereum · LLTV 96.5% $96.39M35.88K WETH 2.01% $87.24M$95.51M collateral 2.22% 90.5%
wstETH / USDCEthereum · LLTV 86% $31.55M31.55M USDC 4.50% $28.46M$85.97M collateral 5.00% 90.2%
wstETH / WETHMonad · LLTV 94.5% $47.85M17.82K WETH 1.54%+1.50% rewards $42.95M$47.50M collateral 1.71% 89.8%
wstETH / WETHEthereum · LLTV 94.5% $33.07M12.31K WETH 1.62% $29.39M$32.77M collateral 1.82% 88.9%
wstETH / USDCEthereum · LLTV 86% $12.92M12.92M USDC 4.57% $11.66M$24.16M collateral 5.08% 90.2%
wstETH / EURCVEthereum · LLTV 86% $10.45M9.18M EURCV 1.76% $9.39M$19.02M collateral 1.96% 89.9%
wstETH / PYUSDEthereum · LLTV 86% $2.95M2.95M PYUSD 10.60% $2.77M$12.20M collateral 11.37% 93.6%
wstETH / WETHBase · LLTV 94.5% $7.89M2.94K WETH 1.54% $7.10M$7.94M collateral 1.71% 90.0%
wstETH / USDCBase · LLTV 86% $2.32M2.32M USDC 4.30% $2.08M$5.80M collateral 4.79% 90.0%
wstETH / EURCVEthereum · LLTV 86% $2.19M1.92M EURCV 1.73% $1.96M$5.29M collateral 1.94% 89.4%
wstETH / USDTEthereum · LLTV 86% $2.63M2.63M USDT 4.45% $2.39M$4.99M collateral 4.90% 91.0%
wstETH / RLUSDEthereum · LLTV 86% $1.50M1.50M RLUSD 3.78% $1.35M$3.54M collateral 4.20% 90.1%
wstETH / EURCBase · LLTV 86% $1.22M1.07M EURC 2.76% $1.04M$3.29M collateral 3.24% 85.5%
wstETH / WETHOP Mainnet · LLTV 94.5% $2.68M997.47 WETH 1.26% $2.39M$2.69M collateral 1.42% 89.1%
wstETH / USDSEthereum · LLTV 86% $1.44M1.44M USDS 2.88% $1.22M$2.55M collateral 3.40% 85.0%
wstETH / USDCArbitrum · LLTV 86% $1.49M1.49M USDC 1.95% $988K$2.22M collateral 2.95% 66.4%
wstETH / USDCEthereum · LLTV 86% $927K927.23K USDC 4.52% $839K$2.09M collateral 5.01% 90.5%
wstETH / EURCEthereum · LLTV 86% $829K728.53K EURC 2.30% $661K$1.67M collateral 2.89% 79.7%
wstETH / WETHUnichain · LLTV 96.5% $863K321.34 WETH 6.75% $687K$722K collateral 8.55% 79.6%
wstETH / WETHBase · LLTV 96.5% $440K163.98 WETH 1.54% $396K$443K collateral 1.71% 89.9%
wstETH / PYUSDEthereum · LLTV 86% $143K142.84K PYUSD 9.00% $131K$346K collateral 9.86% 91.7%
wstETH / USDT0Arbitrum · LLTV 86% $77.7K77.73K USDT0 2.21% $57.5K$140K collateral 3.00% 73.9%
wstETH / wARSEthereum · LLTV 62.5% $44.2K70.97M wARS 21.40% $39.3K$107K collateral 24.38% 88.9%
wstETH / WETHEthereum · LLTV 94.5% $42.1K15.68 WETH 1.65% $37.8K$45.7K collateral 1.84% 89.7%
wstETH / tGBPEthereum · LLTV 86% $94.1K71.08K tGBP <0.01% $14.7K$30.0K collateral 0.04% 15.6%
wstETH / AUSDMonad · LLTV 86% $15.6K15.57K AUSD 1.34%+0.57% rewards $13.8K$28.8K collateral 1.51% 88.7%
wstETH / USDCOP Mainnet · LLTV 86% $1.0K1.04K USDC 3.15% $853$11.5K collateral 3.86% 81.9%
wstETH / eUSDEthereum · LLTV 86% $2.2K2.18K eUSD 1.73% $2.0K$5.2K collateral 1.89% 91.4%
wstETH / AUSDEthereum · LLTV 86% $1.4K1.36K AUSD 4.42% $1.2K$3.3K collateral 4.93% 89.9%
wstETH / EUROPEthereum · LLTV 86% $2.8K2.50K EUROP 0.02% $3.00$8.00 collateral 19.47% 0.1%
wstETH / WBTCEthereum · LLTV 86% $74.2K0.884 WBTC 0.00% $1.00$3.00 collateral 0.20% <0.01%

wstETH on Morpho: quick answers

Where can I earn the most on wstETH on Morpho?

1 vault take wstETH deposits; the largest, Smokehouse WSTETH, pays 0.00% net APY. None has $1M deposited yet.

Can I borrow against wstETH on Morpho?

Yes: 32 markets accept wstETH as collateral, with liquidation LTVs up to 96.5%. The largest is wstETH / USDT on Ethereum, where borrowers pay 4.81%.

Which networks is wstETH on Morpho available on?

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

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