Morpho Watch

Morpho markets

Morpho's lending markets, first launched as Morpho Blue, are small and separate: each lends one asset against one kind of collateral, with its own interest rate and its own liquidation point (the LLTV). Lenders supply the loan asset, directly or through a vault; borrowers post the collateral. Pick a market for its rate history, its rate curve and who is borrowing.

Data from Morpho's API · updated

Supplied

$6.38B

lent out or ready to lend

Borrowed

$5.57B

87.3% of supply

Collateral posted

$8.78B

backing those loans

Markets

449

on 13 networks

Morpho markets
Market Supplied Supply APY Borrowed Borrow APY Utilization
cbBTC / USDCBase · LLTV 86% $1.90B1.90B USDC 4.50% $1.61B$2.91B collateral 5.32% 84.9%
USDe / USDGRobinhood Chain · LLTV 91.5% $354.4M354.43M USDG 5.06% $321.7M$361.3M collateral 5.59% 90.8%
USDe / USDCBase · LLTV 91.5% $354.2M354.27M USDC 4.19% $317.4M$354.9M collateral 4.69% 89.6%
cbBTC / USDCEthereum · LLTV 86% $350.6M350.71M USDC 4.43% $303.7M$613.4M collateral 5.13% 86.6%
kBTC / RLUSDEthereum · LLTV 86% $255.2M255.20M RLUSD 3.33% $228.9M$315.1M collateral 3.71% 89.7%
cirBTC / USDCArc · LLTV 86% $188.5M188.57M USDC 3.44% $171.5M$275.0M collateral 3.78%−0.14% rewards 91.0%
PRIME / PYUSDEthereum · LLTV 86% $186.2M186.31M PYUSD 6.07% $169.0M$235.2M collateral 6.70% 90.8%
PT-reUSD-10DEC2026 / USDCEthereum · LLTV 91.5% $151.4M151.44M USDC 8.46% $136.0M$167.7M collateral 9.46% 89.8%
WBTC / USDCEthereum · LLTV 86% $142.3M142.32M USDC 4.44% $123.0M$226.9M collateral 5.15% 86.4%
syrupUSDG / USDGArbitrum · LLTV 91.5% $136.2M136.21M USDG 2.91% $122.3M$137.5M collateral 3.25% 89.8%
wstETH / USDTEthereum · LLTV 86% $127.3M127.44M USDT 3.00% $104.8M$290.2M collateral 3.66% 82.3%
sUSDe / PYUSDEthereum · LLTV 91.5% $115.1M115.12M PYUSD 3.66% $101.5M$117.1M collateral 4.16% 88.2%
WETH / USDCBase · LLTV 86% $106.9M106.91M USDC 4.50% $90.66M$167.1M collateral 5.33% 84.8%
kBTC / PYUSDEthereum · LLTV 86% $105.6M105.65M PYUSD 3.59% $94.14M$133.4M collateral 4.04% 89.2%
WBTC / USDTEthereum · LLTV 86% $103.6M103.70M USDT 3.00% $85.23M$148.9M collateral 3.66% 82.3%
syrupUSDG / USDGRobinhood Chain · LLTV 91.5% $92.85M92.85M USDG 3.86% $83.60M$93.69M collateral 4.29% 90.0%
mGLO / USDCBase · LLTV 91.5% $90.59M90.61M USDC 4.99% $81.59M$95.36M collateral 5.56% 90.1%
PST / PYUSDEthereum · LLTV 86% $84.33M84.38M PYUSD 6.70% $76.18M$113.1M collateral 7.44% 90.3%
weETH / RLUSDEthereum · LLTV 86% $83.16M83.18M RLUSD 3.44% $70.54M$106.0M collateral 4.07% 84.8%
syrupUSDC / PYUSDEthereum · LLTV 91.5% $65.19M65.23M PYUSD 4.04% $58.68M$65.81M collateral 4.50% 90.0%
wstETH / WETHEthereum · LLTV 96.5% $63.70M31.63K WETH 2.89% $58.43M$64.83M collateral 3.16% 91.7%
cbXRP / USDCBase · LLTV 62.5% $63.44M63.45M USDC 5.65% $53.91M$123.7M collateral 6.68% 85.0%
sUSDS / USDTEthereum · LLTV 96.5% $55.76M55.82M USDT 3.65% $50.73M$56.35M collateral 4.02% 91.0%
weETH / USDCEthereum · LLTV 86% $41.04M41.05M USDC 4.44% $34.55M$53.27M collateral 5.29% 84.2%
USDe / RLUSDEthereum · LLTV 91.5% $40.45M40.46M RLUSD 3.45% $35.06M$55.68M collateral 3.99% 86.7%
mGLO / USDGRobinhood Chain · LLTV 91.5% $37.90M37.90M USDG 4.96% $34.26M$39.63M collateral 5.50% 90.4%
WBTC / RLUSDEthereum · LLTV 86% $35.95M35.96M RLUSD 3.65% $32.87M$47.68M collateral 4.00% 91.4%
wstETH / USDCEthereum · LLTV 86% $32.95M32.96M USDC 4.44% $28.52M$58.91M collateral 5.14% 86.6%
aHYPER / USDCMonad · LLTV 77% $31.02M31.03M USDC 7.84%+0.80% rewards $27.53M$41.34M collateral 8.88% 88.8%
PT-USDat-14JAN2027 / USDCMonad · LLTV 91.5% $30.87M30.88M USDC 7.10%+0.90% rewards $26.70M$30.81M collateral 8.25% 86.5%
wFalconX / USDCEthereum · LLTV 91.5% $30.67M30.68M USDC 5.17% $26.22M$32.87M collateral 6.07% 85.5%
weETH / PYUSDEthereum · LLTV 86% $28.40M28.42M PYUSD 4.30% $24.65M$40.28M collateral 4.97% 86.8%
wstETH / WETHMonad · LLTV 94.5% $25.80M12.84K WETH 1.39%+1.20% rewards $22.36M$24.94M collateral 1.61% 86.7%
fxSAVE / USDCEthereum · LLTV 91.5% $25.72M25.73M USDC 5.09%+4.55% rewards $23.56M$29.33M collateral 5.56% 91.6%
PT-USD3-17DEC2026 / USDCEthereum · LLTV 86% $22.52M22.52M USDC 14.77% $20.80M$27.17M collateral 16.08% 92.4%
mF-ONE / USDCEthereum · LLTV 91.5% $22.37M22.37M USDC 5.76% $18.49M$26.35M collateral 7.01% 82.7%
USPC / USDCEthereum · LLTV 91.5% $19.90M19.91M USDC 4.54%+1.52% rewards $17.99M$21.48M collateral 5.04% 90.4%
cbBTC / EURCVEthereum · LLTV 86% $19.43M17.58M EURCV 1.82% $17.52M$27.36M collateral 2.02% 90.1%
cbETH / USDCBase · LLTV 77% $18.47M18.47M USDC 4.50% $15.60M$33.16M collateral 5.35% 84.5%
PST / USDCEthereum · LLTV 86% $18.38M18.38M USDC 6.50% $16.27M$20.58M collateral 7.38% 88.5%
mGLO / USDGRobinhood Chain · LLTV 91.5% $17.76M17.76M USDG 4.95% $16.00M$18.87M collateral 5.50% 90.1%
apyUSD / USDCEthereum · LLTV 86% $17.32M17.32M USDC 9.80% $16.06M$20.81M collateral 10.60% 92.8%
dCOMP / USDCEthereum · LLTV 62.5% $16.73M16.74M USDC 12.43% $14.13M$36.44M collateral 14.88% 84.5%
wstETH / WETHEthereum · LLTV 94.5% $16.71M8.30K WETH 2.89% $15.32M$16.63M collateral 3.16% 91.7%
PT-USD3-17DEC2026 / USDCEthereum · LLTV 86% $16.67M16.68M USDC 8.73% $15.19M$20.04M collateral 9.63% 91.1%
sthUSD / USDT0Stable · LLTV 86% $16.48M16.50M USDT0 7.74% $14.83M$20.99M collateral 8.65% 90.0%
earnAUSD / USDCMonad · LLTV 91.5% $14.90M14.90M USDC 7.73% $13.43M$15.87M collateral 8.61% 90.1%
PT-USD3-17DEC2026 / USDTEthereum · LLTV 91.5% $14.38M14.40M USDT 6.70% $13.38M$16.04M collateral 7.22% 93.0%
PT-reUSD-10DEC2026 / USDTEthereum · LLTV 91.5% $14.07M14.08M USDT 19.80% $13.22M$16.13M collateral 21.21% 94.0%
steakEURCV / USDCEthereum · LLTV 91.5% $13.02M13.02M USDC 4.54% $11.31M$0 collateral 5.25% 86.9%
USD3 / USDCEthereum · LLTV 91.5% $12.85M12.86M USDC 5.71% $11.33M$12.91M collateral 6.50% 88.2%
strUSD / AUSDMonad · LLTV 86% $12.80M12.81M AUSD 5.25%+1.50% rewards $10.22M$12.82M collateral 6.61%−1.00% rewards 79.9%
wstETH / USDCEthereum · LLTV 86% $12.42M12.42M USDC 3.47% $9.35M$16.70M collateral 4.64% 75.3%
FXRP / RLUSDEthereum · LLTV 77% $11.56M11.56M RLUSD 3.64% $8.48M$14.42M collateral 5.00% 73.3%
strUSD / USDCEthereum · LLTV 86% $11.07M11.07M USDC 11.18% $10.07M$13.35M collateral 12.36% 91.0%
kHYPE / USDCHyperEVM · LLTV 77% $10.68M10.68M USDC 5.05% $9.03M$16.34M collateral 6.00%−0.60% rewards 84.6%
apyUSD / apxUSDEthereum · LLTV 86% $10.56M10.65M apxUSD 9.06% $9.36M$17.98M collateral 10.27% 88.7%
wstETH / EURCVEthereum · LLTV 86% $10.37M9.38M EURCV 1.82% $9.34M$15.47M collateral 2.02% 90.0%
weETH / PYUSDStable · LLTV 86% $10.32M10.32M PYUSD 3.22% $9.28M$33.43M collateral 3.58% 90.0%
WHYPE / USDCHyperEVM · LLTV 77% $9.89M9.89M USDC 5.06% $8.37M$19.16M collateral 6.00% 84.7%
PT-sUSDS-26NOV2026 / USDCEthereum · LLTV 91.5% $9.71M9.71M USDC 4.51% $8.74M$10.66M collateral 5.02% 90.0%
cbBTC / USDTEthereum · LLTV 86% $9.61M9.62M USDT 3.00% $7.91M$14.71M collateral 3.66% 82.3%
OETH / USDCEthereum · LLTV 86% $9.58M9.59M USDC 6.74% $8.62M$16.92M collateral 7.51%−4.95% rewards 90.0%
WETH / USDCEthereum · LLTV 86% $9.39M9.39M USDC 4.43% $8.09M$15.26M collateral 5.16% 86.2%
PT-USDat-14JAN2027 / USDCEthereum · LLTV 91.5% $9.22M9.23M USDC 6.16% $8.12M$9.19M collateral 7.03% 88.0%
savUSD / USDCEthereum · LLTV 91.5% $9.01M9.02M USDC 6.45% $8.12M$9.89M collateral 7.19% 90.0%
mM1-USD / USDCEthereum · LLTV 86% $8.68M8.69M USDC 8.15% $7.82M$14.95M collateral 9.09% 90.1%
PT-USDat-14JAN2027 / USDTEthereum · LLTV 91.5% $8.40M8.41M USDT 12.84% $7.78M$8.94M collateral 13.94% 92.5%
kHYPE / USDCHyperEVM · LLTV 62.5% $8.25M8.25M USDC 4.77% $6.84M$27.75M collateral 5.78% 82.9%
reUSD / USDCEthereum · LLTV 91.5% $8.06M8.06M USDC 5.55% $7.06M$7.91M collateral 6.36% 87.6%
siUSD / USDCEthereum · LLTV 91.5% $7.91M7.91M USDC 6.84% $6.93M$9.47M collateral 7.85% 87.6%
sUSDai / USDTEthereum · LLTV 91.5% $7.81M7.82M USDT 7.54% $7.11M$8.83M collateral 8.31% 91.0%
SOL / USDCBase · LLTV 62.5% $7.77M7.77M USDC 4.90% $6.70M$16.02M collateral 5.71% 86.2%
weETH / WETHEthereum · LLTV 94.5% $7.64M3.79K WETH 4.45% $7.17M$7.78M collateral 4.74% 93.9%
spUSDG / USDGRobinhood Chain · LLTV 91.5% $7.47M7.47M USDG 3.18% $6.74M$7.40M collateral 3.54% 90.2%
cbETH / WETHBase · LLTV 94.5% $7.32M3.64K WETH 1.57% $6.57M$7.56M collateral 1.75% 89.8%
wsrUSD / USDCEthereum · LLTV 94.5% $6.96M6.96M USDC 5.04% $6.12M$7.26M collateral 5.75% 88.0%
AA_FalconXUSDC / USDCEthereum · LLTV 77% $6.90M6.90M USDC 6.65% $6.27M$9.30M collateral 7.34% 90.9%
stUSDS / USDCEthereum · LLTV 86% $6.45M6.45M USDC 8.24% $6.00M$8.14M collateral 8.89% 93.0%
mGLO / USDCBase · LLTV 91.5% $6.27M6.27M USDC 4.60% $5.20M$6.41M collateral 5.58% 82.9%
PT-siUSD-7JAN2027 / USDCEthereum · LLTV 86% $6.18M6.18M USDC 6.95% $5.59M$7.56M collateral 7.72% 90.4%
aguaUSDCgc / USDCEthereum · LLTV 91.5% $6.15M6.15M USDC 8.17% $5.55M$6.27M collateral 9.09% 90.3%
WBTC / EURCVEthereum · LLTV 86% $6.14M5.56M EURCV 1.82% $5.53M$10.12M collateral 2.02% 90.0%
WBTC / USDTEthereum · LLTV 86% $6.05M6.06M USDT 3.00% $4.98M$7.36M collateral 3.66% 82.2%
cbBTC / EURCBase · LLTV 86% $5.78M5.23M EURC 6.84% $5.41M$8.94M collateral 7.32% 93.7%
USPC / USDCMonad · LLTV 91.5% $5.75M5.76M USDC 5.20% $5.22M$6.01M collateral 5.75% 90.7%
mGLOeuro / EURCVEthereum · LLTV 77% $5.65M5.11M EURCV 2.87% $4.99M$7.25M collateral 3.25% 88.4%
wstETH / WETHBase · LLTV 94.5% $5.36M2.66K WETH 1.49% $4.73M$5.31M collateral 1.69% 88.3%
vbWBTC / vbUSDCKatana · LLTV 86% $5.23M5.24M vbUSDC 2.42% $4.58M$6.57M collateral 2.77% 87.5%
wUSCC / USDCEthereum · LLTV 98% $5.20M5.21M USDC 4.72% $4.69M$5.09M collateral 5.25% 90.1%
cbBTC / USDCEthereum · LLTV 86% $5.14M5.14M USDC 4.55% $4.64M$7.25M collateral 5.06% 90.1%
kHYPE / USD₮0HyperEVM · LLTV 62.5% $5.12M5.12M USD₮0 7.09% $4.52M$22.85M collateral 8.06% 88.3%
PT-sUSDE-26NOV2026 / USDCEthereum · LLTV 91.5% $5.11M5.11M USDC 3.87% $4.61M$5.31M collateral 4.29% 90.3%
sUSDS / USDTEthereum · LLTV 96.5% $4.91M4.92M USDT 3.00% $4.04M$4.39M collateral 3.66% 82.2%
JitoSOL / USDCBase · LLTV 62.5% $4.82M4.82M USDC 5.56% $4.33M$10.81M collateral 6.21% 89.8%
kHYPE / WHYPEHyperEVM · LLTV 86% $4.77M66.92K WHYPE 0.70% $4.05M$5.69M collateral 0.83% 85.0%
WHYPE / USD₮0HyperEVM · LLTV 62.5% $4.51M4.51M USD₮0 7.06% $3.97M$9.81M collateral 8.05% 88.1%
v-wmtUSDC / USDCEthereum · LLTV 86% $4.46M4.46M USDC 6.05% $4.01M$5.40M collateral 6.75% 89.9%
PT-sUSDS-26NOV2026 / USDSEthereum · LLTV 91.5% $4.30M4.31M USDS 6.28% $3.96M$4.73M collateral 6.85% 92.0%
aHyperBTC / cbBTCMonad · LLTV 77% $4.24M59.00 cbBTC 3.13% $3.86M$5.96M collateral 3.44% 91.1%

Reading a market

A market is named by its collateral and loan asset: cbBTC / USDC means people post cbBTC and borrow USDC. LLTV is the loan-to-value at which a loan can be liquidated, fixed for the life of the market. Utilization is the share of supply that is borrowed; Morpho's rate model aims to keep it near 90% by raising the rate above that and lowering it below. Read how Morpho interest rates work and LLTV and liquidations explained.

Only markets listed in the Morpho app with at least $1,000 supplied are shown.