WBTC / WETH on Ethereum
A Morpho market on Ethereum where people borrow WETH against WBTC. A loan can be liquidated once it reaches 91.5% of the collateral's value. Lenders earn 0.20% a year and borrowers pay 0.48% right now.
Data from Morpho's API · updated
Borrow APY
0.48%
30-day average 1.05%
Supply APY
0.20%
30-day average 0.86%
Supplied
$209K
77.85 WETH
Borrowed
$85.3K
40.8% utilization
Available to borrow
$124K
free liquidity right now
Collateral posted
$241K
2.87 WBTC
WBTC / WETH rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
WBTC / WETH 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 0.78% 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 WBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's WBTC price in WETH. 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 |
| WBTC price in WETH | 31.21 WETH |
| Oracle | ChainlinkOracleV20xc29B…e663 |
| Price feeds | 0xdeb2…89e8 |
| Market fee | Noneshare of interest taken by the protocol |
| Pre-liquidation | Availableborrowers can opt in to gentler, earlier liquidations from 89.79% LTV |
Details
| Loan asset | WETHprice $2.7K |
|---|---|
| Collateral | WBTCprice $83.9K |
| Borrow APY, last year | 1.87% |
| Borrowers | 14 |
| Created | March 29, 2024 |
| Market ID | 0x138eec0e…288a40 |
| Rate model | 0x870a…00BC |
| WBTC token | 0x2260…C599 |
| WETH token | 0xC02a…6Cc2 |
Vaults lending here
$4.2K of the $209K supplied comes from these vaults
Largest borrowers
14 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xa631…dC35 | $77.3K | 1.55 |
| 0xFF76…fB4c | $3.7K | 1.18 |
| 0xF4Db…E18B | $2.1K | 5.21 |
| 0x285e…eB23 | $1.4K | 1.97 |
| 0x5180…5C04 | $1.0K | 1.41 |
| 0x6157…629B | $1.00 | 2.28 |
| 0xd018…ec42 | $1.00 | 57.23 |
| 0x91E8…7760 | $0 | 8.09 |
| 0xB8e1…F138 | $0 | 11.65 |
| 0xf822…d39F | $0 | 1.32 |
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 WBTC / WETH market
The WBTC / WETH market on Ethereum was created on March 29, 2024. Anyone can lend WETH into it, and anyone holding WBTC can borrow that WETH 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 $209K is supplied and $85.3K borrowed, so 40.8% of the market is in use, backed by $241K of WBTC from 14 borrowers. Borrowers pay 0.48% a year, 1.05% on average over the last 30 days and 1.87% over the last year. Lenders earn 0.20%.
8 listed vaults lend here, providing $4.2K of the supply; the largest are SingularV ETH, Vault Bridge WETH and Gauntlet WETH Prime. Liquidators who close an unsafe loan here receive a 2.62% bonus in WBTC. If WBTC fell 20% against WETH, about $4.7K of collateral would be at risk of liquidation.
WBTC / WETH on Ethereum: quick answers
What is the WETH borrow rate against WBTC on Morpho Ethereum?
In this market it is 0.48% a year right now, and it averaged 1.05% over the last 30 days. The rate is variable: it follows how much of the market's WETH is borrowed, rising quickly above 90%.
When is a WBTC / WETH 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 WBTC worth 2.62% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if WBTC fell to about 17.05 WETH.
How much WETH can be borrowed here right now?
$124K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the WBTC / WETH market?
Lenders earn 0.20% a year right now (0.86% averaged over 30 days). Most lend through vaults, such as SingularV ETH, Vault Bridge WETH and Gauntlet WETH Prime, which spread deposits across several markets.
More ways to borrow against WBTC
Other loan assets with WBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| WBTC / USDCEthereum · LLTV 86% | 4.54% | 5.04% |
| WBTC / USDTEthereum · LLTV 86% | 4.09% | 4.52% |
| WBTC / EURCVEthereum · LLTV 86% | 1.82% | 2.02% |
| WBTC / RLUSDEthereum · LLTV 86% | 3.62% | 4.00% |
| WBTC / USDTEthereum · LLTV 86% | 4.56% | 5.02% |
| WBTC / USDCArbitrum · LLTV 86% | 1.99% | 2.96% |
