weETH / USDT on Ethereum (86% LLTV, oracle 0x631b…0F87)
A Morpho market on Ethereum where people borrow USDT against weETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 2.98% a year and borrowers pay 3.67% right now.
Data from Morpho's API · updated
Borrow APY
3.67%
30-day average 4.49%
Supply APY
2.98%
30-day average 3.95%
Supplied
$596K
596.59K USDT
Borrowed
$485K
81.4% utilization
Available to borrow
$111K
up to $5.67M with vault liquidity
Collateral posted
$982K
440.81 weETH
weETH / USDT rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
weETH / 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 3.96% 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 USDT. 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 USDT | 2.23K USDTthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x631b…0F87 |
| Price feeds | 0x5c9C…fF22 0x5f4e…8419 0x3E7d…e32D |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDTprice $0.9990 |
|---|---|
| Collateral | weETHprice $2.2K |
| Borrowers | 8 |
| Created | December 23, 2025 |
| Market ID | 0xc2c53d2b…66a8f6 |
| Rate model | 0x870a…00BC |
| weETH token | 0xCd5f…b7ee |
| USDT token | 0xdAC1…1ec7 |
Vaults lending here
$581K of the $596K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Gauntlet USDT Frontierlends directly | $435K |
| Steakhouse High Yield USDTV2lends directly | $106K |
| Smokehouse USDTlends directly | $28.8K |
| KPK USDT PrimeV2lends directly | $11.5K |
Largest borrowers
8 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xFAd3…1d18 | $396K | 1.77 |
| 0x92E4…fBA0 | $61.4K | 1.27 |
| 0x477d…96bF | $25.7K | 2.27 |
| 0x409C…643e | $2.4K | 4.09 |
| 0x10F0…9f4f | $8.00 | 1.72 |
| 0xfeed…3C9a | $1.00 | 2.33 |
| 0x3689…F532 | $0 | 0.99 |
| 0xC2c8…7f5F | $0 | >99 |
Health is collateral value times the LLTV, divided by the debt. Below 1.00 a loan can be liquidated.
Recent liquidations here
1 in the last 30 days, $429K of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $429K429.03K USDT | 0xe25d…2075 |
About the weETH / USDT market
The weETH / USDT market on Ethereum was created on December 23, 2025. Anyone can lend USDT into it, and anyone holding weETH can borrow that USDT against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $596K is supplied and $485K borrowed, so 81.4% of the market is in use, backed by $982K of weETH from 8 borrowers. Borrowers pay 3.67% a year, 4.49% on average over the last 30 days. Lenders earn 2.98%.
4 listed vaults lend here, providing $581K of the supply; the largest are Gauntlet USDT Frontier, Steakhouse High Yield USDT and Smokehouse USDT. Liquidators who close an unsafe loan here receive a 4.38% bonus in weETH. If weETH fell 20% against USDT, about $1.00 of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
weETH / USDT (86% LLTV, oracle 0x631b…0F87) on Ethereum: quick answers
What is the USDT borrow rate against weETH on Morpho Ethereum?
In this market it is 3.67% a year right now, and it averaged 4.49% 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 weETH / USDT loans liquidated?
When a 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 1.30K USDT.
How much USDT can be borrowed here right now?
$111K is free in the market, and vaults can move in up to $5.56M more through Morpho's public allocator, for about $5.67M in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the weETH / USDT market?
Lenders earn 2.98% a year right now (3.95% averaged over 30 days). Most lend through vaults, such as Gauntlet USDT Frontier, Steakhouse High Yield USDT and Smokehouse USDT, which spread deposits across several markets.
Other weETH / USDT markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / USDTEthereum · LLTV 86% | 2.97% | 3.63% |
More ways to borrow against weETH
Other loan assets with weETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| weETH / RLUSDEthereum · LLTV 86% | 3.44% | 4.07% |
| weETH / USDCEthereum · LLTV 86% | 4.47% | 5.31% |
| weETH / PYUSDEthereum · LLTV 86% | 4.29% | 4.96% |
| weETH / PYUSDStable · LLTV 86% | 3.22% | 3.58% |
| weETH / WETHEthereum · LLTV 94.5% | 3.02% | 3.30% |
| weETH / vbETHKatana · LLTV 91.5% | 1.82% | 2.04%−0.25% rewards |
