sUSDai / USDT on Ethereum
A Morpho market on Ethereum where people borrow USDT against sUSDai. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 7.54% a year and borrowers pay 8.32% right now.
Data from Morpho's API · updated
Borrow APY
8.32%
30-day average 6.57%
Supply APY
7.54%
30-day average 5.89%
Supplied
$7.81M
7.82M USDT
Borrowed
$7.11M
91.0% utilization
Available to borrow
$703K
free liquidity right now
Collateral posted
$8.83M
7.88M sUSDai
sUSDai / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
sUSDai / 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 6.34% 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 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 |
| sUSDai price in USDT | 1.13 USDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xf47F…3558 |
| Price feeds | 0x0fBE…ee7a 0x3E7d…e32D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9990 |
|---|---|
| Collateral | sUSDaiprice $1.1211 |
| Borrowers | 14 |
| Created | September 17, 2026 |
| Market ID | 0xe6151adf…10f5b0 |
| Rate model | 0x870a…00BC |
| sUSDai token | 0x0B2b…5ef9 |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$7.81M of the $7.81M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Flowdesk Confidential High Yield USDTV2lends directly | $7.81M |
Largest borrowers
14 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x971B…DDA0 | $5.31M | 1.16 |
| 0xB47c…5bFD | $1.18M | 1.05 |
| 0x55Fa…272c | $501K | 1.15 |
| 0xe8f4…aaf4 | $60.0K | 1.12 |
| 0xEa45…75c9 | $16.5K | 1.06 |
| 0x4eF7…5617 | $14.6K | 1.05 |
| 0x64FB…30BB | $7.9K | 1.01 |
| 0x9136…5735 | $4.3K | 1.11 |
| 0x602a…feB5 | $3.7K | 1.05 |
| 0xAEab…97F5 | $3.5K | 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 sUSDai / USDT market
The sUSDai / USDT market on Ethereum was created on September 17, 2026. Anyone can lend USDT into it, and anyone holding sUSDai 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 $7.81M is supplied and $7.11M borrowed, so 91.0% of the market is in use, backed by $8.83M of sUSDai from 14 borrowers. Borrowers pay 8.32% a year, 6.57% on average over the last 30 days. Lenders earn 7.54%.
1 listed vault lends here, providing $7.81M of the supply; the largest is Flowdesk Confidential High Yield USDT. Liquidators who close an unsafe loan here receive a 2.62% bonus in sUSDai. If sUSDai fell 20% against USDT, about $8.83M of collateral would be at risk of liquidation.
sUSDai / USDT on Ethereum: quick answers
What is the USDT borrow rate against sUSDai on Morpho Ethereum?
In this market it is 8.32% a year right now, and it averaged 6.57% 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 sUSDai / 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 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 0.616 USDT.
How much USDT can be borrowed here right now?
$703K 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 / USDT market?
Lenders earn 7.54% a year right now (5.89% averaged over 30 days). Most lend through vaults, such as Flowdesk Confidential High Yield USDT, which spread deposits across several markets.
More ways to borrow against sUSDai
Other loan assets with sUSDai as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| sUSDai / AUSDEthereum · LLTV 86% | 4.91% | 5.47% |
| sUSDai / frxUSDEthereum · LLTV 86% | 3.99% | 4.45% |
| sUSDai / USDCArc · LLTV 86% | 4.85% | 5.42%−0.14% rewards |
