PT-USDat-14JAN2027 / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against PT-USDat-14JAN2027. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 14.45% a year and borrowers pay 15.59% right now.
Data from Morpho's API · updated
Borrow APY
15.59%
30-day average 8.13%
Supply APY
14.45%
30-day average 7.23%
Supplied
$8.34M
8.35M USDT
Borrowed
$7.78M
93.2% utilization
Available to borrow
$569K
free liquidity right now
Collateral posted
$8.94M
9.07M PT-USDat-14JAN2027
PT-USDat-14JAN2027 / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
PT-USDat-14JAN2027 / USDT 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 7.69% 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 PT-USDat-14JAN2027 collateral could be liquidated if its price fell by each amount
Based on today's loans and today's PT-USDat-14JAN2027 price in USDT. 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 |
| PT-USDat-14JAN2027 price in USDT | 0.988 USDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x1f74…c26c |
| Price feeds | 0x9e2B…9Bd2 0x3E7d…e32D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9990 |
|---|---|
| Collateral | PT-USDat-14JAN2027price $0.9858 |
| Borrowers | 15 |
| Created | September 18, 2026 |
| Market ID | 0xd8dd3e1d…aec489 |
| Rate model | 0x870a…00BC |
| PT-USDat-14JAN2027 token | 0xba96…314F |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$3.88M of the $8.34M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Flowdesk Confidential High Yield USDTV2lends directly | $2.14M |
| Wintermute USDT SelectV2lends directly | $1.73M |
Largest borrowers
15 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x3763…b307 | $3.41M | 1.04 |
| 0xD8cD…5801 | $2.11M | 1.06 |
| 0x9B63…D341 | $1.70M | 1.05 |
| 0x0092…aefF | $174K | 1.05 |
| 0x0197…8812 | $122K | 1.02 |
| 0x093e…7200 | $98.8K | 1.07 |
| 0x399C…2179 | $33.6K | 1.18 |
| 0x86Ab…13A0 | $31.0K | 1.02 |
| 0x12fB…7468 | $27.4K | 1.01 |
| 0x5C53…4641 | $20.0K | 1.08 |
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 PT-USDat-14JAN2027 / USDT market
The PT-USDat-14JAN2027 / USDT market on Ethereum was created on September 18, 2026. Anyone can lend USDT into it, and anyone holding PT-USDat-14JAN2027 can borrow that USDT 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 $8.34M is supplied and $7.78M borrowed, so 93.2% of the market is in use, backed by $8.94M of PT-USDat-14JAN2027 from 15 borrowers. Borrowers pay 15.59% a year, 8.13% on average over the last 30 days. Lenders earn 14.45%.
2 listed vaults lend here, providing $3.88M of the supply; the largest are Flowdesk Confidential High Yield USDT and Wintermute USDT Select. Liquidators who close an unsafe loan here receive a 2.62% bonus in PT-USDat-14JAN2027. If PT-USDat-14JAN2027 fell 20% against USDT, about $8.86M of collateral would be at risk of liquidation.
PT-USDat-14JAN2027 / USDT on Ethereum: quick answers
What is the USDT borrow rate against PT-USDat-14JAN2027 on Morpho Ethereum?
In this market it is 15.59% a year right now, and it averaged 8.13% over the last 30 days. The rate is variable: it follows how much of the market's USDT is borrowed, rising quickly above 90%.
When are PT-USDat-14JAN2027 / USDT loans liquidated?
When a loan reaches 91.5% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes PT-USDat-14JAN2027 worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if PT-USDat-14JAN2027 fell to about 0.54 USDT.
How much USDT can be borrowed here right now?
$569K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the PT-USDat-14JAN2027 / USDT market?
Lenders earn 14.45% a year right now (7.23% averaged over 30 days). Vaults provide 46% of the supply here (Flowdesk Confidential High Yield USDT and Wintermute USDT Select); the rest comes from people lending directly.
More ways to borrow against PT-USDat-14JAN2027
Other loan assets with PT-USDat-14JAN2027 as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| PT-USDat-14JAN2027 / USDCMonad · LLTV 91.5% | 7.10%+0.91% rewards | 8.25% |
| PT-USDat-14JAN2027 / USDCEthereum · LLTV 91.5% | 6.16% | 7.02% |
