sUSDai / USDC on Arbitrum
A Morpho market on Arbitrum where people borrow USDC against sUSDai. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 4.39% a year and borrowers pay 5.00% right now.
Data from Morpho's API · updated
Borrow APY
5.00%
30-day average 5.27%
Supply APY
4.39%
30-day average 4.69%
Supplied
$132K
131.74K USDC
Borrowed
$116K
88.1% utilization
Available to borrow
$15.7K
free liquidity right now
Collateral posted
$135K
121.24K sUSDai
sUSDai / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSDai / USDC 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 5.07% 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 sUSDai collateral could be liquidated if its price fell by each amount
Based on today's loans and today's sUSDai price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 91.5%fixed for the life of the market |
|---|---|
| Liquidation bonus | 2.62%extra collateral a liquidator receives |
| sUSDai price in USDC | 1.12 USDC |
| Oracle | ChainlinkOracleV20x8Db2…cdf9 |
| Price feeds | 0x5e55…3E9a 0x5083…4aD3 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | sUSDaiprice $1.1150 |
| Borrow APY, last year | 4.80% |
| Borrowers | 16 |
| Created | September 2, 2025 |
| Market ID | 0x71c2954e…eced26 |
| Rate model | 0x66F3…06DA |
| sUSDai token | 0x0B2b…5ef9 |
| USDC token | 0xaf88…5831 |
Vaults lending here
$122K of the $132K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Hyperithm USDC Apexlends directly | $122K |
Largest borrowers
16 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0197…8812 | $75.2K | 1.02 |
| 0x0536…8A44 | $23.8K | 1.08 |
| 0x0b1e…7d69 | $5.7K | 1.46 |
| 0x130b…8E48 | $4.3K | 1.06 |
| 0xa28B…13Fd | $3.1K | 1.07 |
| 0x8fB4…9f58 | $2.1K | 1.41 |
| 0x1935…b412 | $869 | 1.05 |
| 0xB0B6…d6dB | $749 | 1.02 |
| 0x5760…8686 | $215 | 1.02 |
| 0x4c96…79Aa | $33.00 | 1.09 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
None recorded in the last 90 days
About the sUSDai / USDC market
The sUSDai / USDC market on Arbitrum was created on September 2, 2025. Anyone can lend USDC into it, and anyone holding sUSDai can borrow that USDC against it, up to a loan-to-value of 91.5% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $132K is supplied and $116K borrowed, so 88.1% of the market is in use, backed by $135K of sUSDai from 16 borrowers. Borrowers pay 5.00% a year, 5.27% on average over the last 30 days and 4.80% over the last year. Lenders earn 4.39%.
1 listed vault lends here, providing $122K of the supply; the largest is Hyperithm USDC Apex. Liquidators who close an unsafe loan here receive a 2.62% bonus in sUSDai. If sUSDai fell 20% against USDC, about $123K of collateral would be at risk of liquidation.
sUSDai / USDC on Arbitrum: quick answers
What is the USDC borrow rate against sUSDai on Morpho Arbitrum?
In this market it is 5.00% a year right now, and it averaged 5.27% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When is a sUSDai / USDC loan liquidated?
When the loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes sUSDai worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if sUSDai fell to about 0.609 USDC.
How much USDC can be borrowed here right now?
$15.7K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the sUSDai / USDC market?
Lenders earn 4.39% a year right now (4.69% averaged over 30 days). Most lend through vaults, such as Hyperithm USDC Apex, which spread deposits across several markets.
Other sUSDai / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDai / USDCArc · LLTV 86% | 5.54% | 6.13%−0.52% rewards |
More ways to borrow against sUSDai
Other loan assets with sUSDai as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDai / AUSDEthereum · LLTV 86% | 5.02% | 5.50% |
| sUSDai / USDTEthereum · LLTV 91.5% | 2.36% | 3.52% |
| sUSDai / AUSDEthereum · LLTV 91.5% | 5.23% | 5.78% |
