GLV [USDG-USDG] / USDG on Arbitrum
A Morpho market on Arbitrum where people borrow USDG against GLV [USDG-USDG]. A loan can be liquidated once it reaches 62.5% of the collateral's value. Lenders earn 3.05% a year and borrowers pay 3.73% right now.
Data from Morpho's API · updated
Borrow APY
3.73%
paid by borrowers
Supply APY
3.05%
earned by lenders
Supplied
$1.07M
1.07M USDG
Borrowed
$880K
82.1% utilization
Available to borrow
$192K
free liquidity right now
Collateral posted
$1.71M
1.69M GLV [USDG-USDG]
GLV [USDG-USDG] / USDG rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
GLV [USDG-USDG] / USDG interest rate curve
What borrowers would pay at each utilization level, with today's settings
Borrow APY Supply APY
At the 90% target, borrowers pay 4.00% right now. Below it the rate falls to as little as a quarter of that; above it, it climbs to four times that when the market is fully borrowed. The curve itself also moves: while utilization stays above 90% the whole curve drifts up, and below 90% it drifts down. How Morpho interest rates work.
Liquidation map
How much GLV [USDG-USDG] collateral could be liquidated if its price fell by each amount
Based on today's loans and today's GLV [USDG-USDG] price in USDG. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 62.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 12.68%extra collateral a liquidator receives |
| GLV [USDG-USDG] price in USDG | 1.01 USDGthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xB208…aa11 |
| Price feeds | 0x8202…8310 0xE9Bd…0B3c |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDGprice $0.9999 |
|---|---|
| Collateral | GLV [USDG-USDG]price $1.0126 |
| Borrowers | 36 |
| Created | October 29, 2026 |
| Market ID | 0xe0efd408…cb534a |
| Rate model | 0x66F3…06DA |
| GLV [USDG-USDG] token | 0x4Cd5…3866 |
| USDG token | 0x004B…9bbC |
Vaults lending here
$1.06M of the $1.07M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet USDG PremiumV2lends directly | $1.06M |
Largest borrowers
36 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xAEB2…f281 | $274K | 1.26 |
| 0xb4dC…39Db | $80.6K | 1.10 |
| 0x0828…7132 | $55.0K | 1.24 |
| 0x12B2…1Cc7 | $55.0K | 1.14 |
| 0x0297…5F26 | $52.9K | 1.22 |
| 0xfc61…C0A3 | $50.0K | 1.13 |
| 0xA430…4c5F | $49.0K | 1.08 |
| 0x5A7c…9Ca3 | $46.5K | 1.36 |
| 0xa90B…bCcB | $39.5K | 1.18 |
| 0x8172…1556 | $39.0K | 1.22 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
7 in the last 30 days, $73.65 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $17.9117.92 USDG | 0x7813…d069 | |
| $10.6810.68 USDG | 0xf615…3a3f | |
| $9.649.64 USDG | 0x63ee…1fea | |
| $9.149.14 USDG | 0x7e3f…3e32 | |
| $13.3113.31 USDG | 0xedf1…89ad | |
| $2.962.96 USDG | 0xc919…3fbb | |
| $10.0110.01 USDG | 0xf026…1f3c |
About the GLV [USDG-USDG] / USDG market
The GLV [USDG-USDG] / USDG market on Arbitrum was created on October 29, 2026. Anyone can lend USDG into it, and anyone holding GLV [USDG-USDG] can borrow that USDG against it, up to a loan-to-value of 62.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.07M is supplied and $880K borrowed, so 82.1% of the market is in use, backed by $1.71M of GLV [USDG-USDG] from 36 borrowers. Borrowers pay 3.73% a year. Lenders earn 3.05%.
1 listed vault lends here, providing $1.06M of the supply; the largest is Gauntlet USDG Premium. Liquidators who close an unsafe loan here receive a 12.68% bonus in GLV [USDG-USDG]. If GLV [USDG-USDG] fell 20% against USDG, about $804K of collateral would be at risk of liquidation. 7 loans were liquidated here in the last 30 days.
GLV [USDG-USDG] / USDG on Arbitrum: quick answers
What is the USDG borrow rate against GLV [USDG-USDG] on Morpho Arbitrum?
In this market it is 3.73% a year right now. The rate is variable: it follows how much of the market's USDG is borrowed, rising quickly above 90%.
When are GLV [USDG-USDG] / USDG loans liquidated?
When a loan reaches 62.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes GLV [USDG-USDG] worth 12.68% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if GLV [USDG-USDG] fell to about 0.81 USDG.
How much USDG can be borrowed here right now?
$192K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the GLV [USDG-USDG] / USDG market?
Lenders earn 3.05% a year right now. Most lend through vaults, such as Gauntlet USDG Premium, which spread deposits across several markets.
Does the GLV [USDG-USDG] / USDG market have any warnings?
Morpho's app flags: unrecognized collateral.