weETH / PYUSD on Ethereum
A Morpho market on Ethereum where people borrow PYUSD against weETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 5.28% a year and borrowers pay 5.84% right now.
Data from Morpho's API · updated
Borrow APY
5.84%
30-day average 5.21%
Supply APY
5.28%
30-day average 4.70%
Supplied
$73.56M
73.57M PYUSD
Borrowed
$66.71M
90.7% utilization
Available to borrow
$6.85M
up to $6.85M with vault liquidity
Collateral posted
$108.0M
36.43K weETH
weETH / PYUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
weETH / PYUSD 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 4.82% 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 weETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's weETH price in PYUSD. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 86%fixed for the life of the market |
|---|---|
| Liquidation bonus | 4.38%extra collateral a liquidator receives |
| weETH price in PYUSD | 2.97K PYUSD |
| Oracle | ChainlinkOracleV20x2218…eE11 |
| Price feeds | 0x5c9C…fF22 0x5f4e…8419 0x8f1d…8FB1 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | PYUSDprice $0.9998 |
|---|---|
| Collateral | weETHprice $3.0K |
| Borrowers | 14 |
| Created | March 3, 2026 |
| Market ID | 0x85d59152…4a212c |
| Rate model | 0x870a…00BC |
| weETH token | 0xCd5f…b7ee |
| PYUSD token | 0x6c3e…A0e8 |
Vaults lending here
$73.56M of the $73.56M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Paypal USD MainV2lends directly | $73.56M |
Largest borrowers
14 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xf0bb…416C | $34.98M | 1.28 |
| 0xA56d…846F | $13.76M | 1.62 |
| 0xa122…E7c6 | $11.54M | 1.47 |
| 0x8328…f54a | $3.98M | 1.49 |
| 0xAa34…5Dd5 | $2.24M | 1.17 |
| 0x1B85…5b6F | $81.5K | 1.74 |
| 0xF75B…4d41 | $64.0K | 2.34 |
| 0x66Db…6F3C | $24.8K | 1.44 |
| 0x1D90…93f1 | $22.3K | 5.43 |
| 0x1Cc1…30B8 | $12.5K | 1.28 |
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 weETH / PYUSD market
The weETH / PYUSD market on Ethereum was created on March 3, 2026. Anyone can lend PYUSD into it, and anyone holding weETH can borrow that PYUSD against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $73.56M is supplied and $66.71M borrowed, so 90.7% of the market is in use, backed by $108.0M of weETH from 14 borrowers. Borrowers pay 5.84% a year, 5.21% on average over the last 30 days. Lenders earn 5.28%.
1 listed vault lends here, providing $73.56M of the supply; the largest is Paypal USD Main. Liquidators who close an unsafe loan here receive a 4.38% bonus in weETH. If weETH fell 20% against PYUSD, about $3.06M of collateral would be at risk of liquidation.
weETH / PYUSD on Ethereum: quick answers
What is the PYUSD borrow rate against weETH on Morpho Ethereum?
In this market it is 5.84% a year right now, and it averaged 5.21% over the last 30 days. The rate is variable: it follows how much of the market's PYUSD is borrowed, rising quickly above 90%.
When is a weETH / PYUSD loan liquidated?
When the loan reaches 86% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes weETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if weETH fell to about 1.72K PYUSD.
How much PYUSD can be borrowed here right now?
$6.85M is free in the market, and vaults can move in up to $3.08 more through Morpho's public allocator, for about $6.85M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / PYUSD market?
Lenders earn 5.28% a year right now (4.70% averaged over 30 days). Most lend through vaults, such as Paypal USD Main, which spread deposits across several markets.
More ways to borrow against weETH
Other loan assets with weETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / RLUSDEthereum · LLTV 86% | 3.77% | 4.20% |
| weETH / WETHEthereum · LLTV 94.5% | 1.95% | 2.16% |
| weETH / USDCEthereum · LLTV 86% | 4.49% | 5.00% |
| weETH / vbETHKatana · LLTV 91.5% | 8.50% | 8.73% |
| weETH / USDTEthereum · LLTV 86% | 4.61% | 5.07% |
| weETH / USDTEthereum · LLTV 86% | 4.45% | 4.91% |
