mHyperBTC / USDC on Ethereum
A Morpho market on Ethereum where people borrow USDC against mHyperBTC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 8.74% a year and borrowers pay 9.75% right now.
Data from Morpho's API · updated
Borrow APY
9.75%
30-day average 9.64%
Supply APY
8.74%
30-day average 8.59%
Supplied
$2.75M
2.75M USDC
Borrowed
$2.48M
90.1% utilization
Available to borrow
$272K
free liquidity right now
Collateral posted
$6.06M
70.21 mHyperBTC
mHyperBTC / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
mHyperBTC / 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 9.45% 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 mHyperBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's mHyperBTC price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| mHyperBTC price in USDC | 86.11K USDC |
| Oracle | Unknown0xecE5…A3c1 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9999 |
|---|---|
| Collateral | mHyperBTCprice $86.1K |
| Borrowers | 6 |
| Created | January 15, 2026 |
| Market ID | 0x51c6fa2e…ec7618 |
| Rate model | 0x870a…00BC |
| mHyperBTC token | 0xC849…3085 |
| USDC token | 0xA0b8…eB48 |
Vaults lending here
$2.10M of the $2.75M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Hyperithm USDC Apexlends directly | $1.24M |
| Hyperithm USDC ApexV2lends directly | $857K |
Largest borrowers
6 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x763f…603F | $1.90M | 1.72 |
| 0x6108…A64F | $366K | 1.80 |
| 0xCc63…9a74 | $211K | 3.42 |
| 0x265f…015b | $3.1K | 3.68 |
| 0x594c…D562 | $1.00 | 2.04 |
| 0xd697…9ABC | $0 | 4.97 |
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 mHyperBTC / USDC market
The mHyperBTC / USDC market on Ethereum was created on January 15, 2026. Anyone can lend USDC into it, and anyone holding mHyperBTC can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from a custom oracle; check its source before borrowing or lending.
Right now $2.75M is supplied and $2.48M borrowed, so 90.1% of the market is in use, backed by $6.06M of mHyperBTC from 6 borrowers. Borrowers pay 9.75% a year, 9.64% on average over the last 30 days. Lenders earn 8.74%.
2 listed vaults lend here, providing $2.10M of the supply; the largest are Hyperithm USDC Apex and Hyperithm USDC Apex. Liquidators who close an unsafe loan here receive a 7.41% bonus in mHyperBTC.
mHyperBTC / USDC on Ethereum: quick answers
What is the USDC borrow rate against mHyperBTC on Morpho Ethereum?
In this market it is 9.75% a year right now, and it averaged 9.64% 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 mHyperBTC / USDC loan liquidated?
When the loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes mHyperBTC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if mHyperBTC fell to about 55.92K USDC.
How much USDC can be borrowed here right now?
$272K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the mHyperBTC / USDC market?
Lenders earn 8.74% a year right now (8.59% averaged over 30 days). Most lend through vaults, such as Hyperithm USDC Apex and Hyperithm USDC Apex, which spread deposits across several markets.
More ways to borrow against mHyperBTC
Other loan assets with mHyperBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| mHyperBTC / cbBTCMonad · LLTV 77% | 3.94% | 4.36% |
