wstETH / RLUSD on Ethereum
A Morpho market on Ethereum where people borrow RLUSD against wstETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 3.78% a year and borrowers pay 4.20% right now.
Data from Morpho's API · updated
Borrow APY
4.20%
30-day average 4.05%
Supply APY
3.78%
30-day average 3.66%
Supplied
$1.50M
1.50M RLUSD
Borrowed
$1.35M
90.1% utilization
Available to borrow
$148K
up to $148K with vault liquidity
Collateral posted
$3.54M
1.06K wstETH
wstETH / RLUSD rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
wstETH / RLUSD 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 4.03% 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 wstETH collateral could be liquidated if its price fell by each amount
Based on today's loans and today's wstETH price in RLUSD. 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 |
| wstETH price in RLUSD | 3.34K RLUSD |
| Oracle | ChainlinkOracleV20x4e58…1653 |
| Price feeds | 0x4F67…8e79 0x5f4e…8419 0x26C4…7f2A |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | RLUSDprice $1.0000 |
|---|---|
| Collateral | wstETHprice $3.3K |
| Borrowers | 19 |
| Created | March 4, 2026 |
| Market ID | 0x88abdf86…683c9d |
| Rate model | 0x870a…00BC |
| wstETH token | 0x7f39…2Ca0 |
| RLUSD token | 0x8292…17eD |
Vaults lending here
$1.50M of the $1.50M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Sentora RLUSD MainV2lends directly | $1.50M |
Largest borrowers
19 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x0480…f852 | $461K | 1.69 |
| 0xee8D…Bee6 | $287K | 2.76 |
| 0x7A2d…DeCA | $191K | 2.87 |
| 0xF66F…cF82 | $174K | 2.59 |
| 0x6FdC…b4D8 | $62.2K | 2.02 |
| 0xA9Ca…f6Ee | $51.9K | 1.38 |
| 0x6735…2365 | $46.8K | 2.12 |
| 0xC9FB…ec77 | $22.8K | 2.45 |
| 0x7a73…9B2E | $15.4K | 2.09 |
| 0x4012…b9D9 | $15.2K | 2.85 |
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 wstETH / RLUSD market
The wstETH / RLUSD market on Ethereum was created on March 4, 2026. Anyone can lend RLUSD into it, and anyone holding wstETH can borrow that RLUSD against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $1.50M is supplied and $1.35M borrowed, so 90.1% of the market is in use, backed by $3.54M of wstETH from 19 borrowers. Borrowers pay 4.20% a year, 4.05% on average over the last 30 days. Lenders earn 3.78%.
1 listed vault lends here, providing $1.50M of the supply; the largest is Sentora RLUSD Main. Liquidators who close an unsafe loan here receive a 4.38% bonus in wstETH.
wstETH / RLUSD on Ethereum: quick answers
What is the RLUSD borrow rate against wstETH on Morpho Ethereum?
In this market it is 4.20% a year right now, and it averaged 4.05% over the last 30 days. The rate is variable: it follows how much of the market's RLUSD is borrowed, rising quickly above 90%.
When is a wstETH / RLUSD 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 wstETH worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if wstETH fell to about 1.94K RLUSD.
How much RLUSD can be borrowed here right now?
$148K is free in the market, and vaults can move in up to $2.12 more through Morpho's public allocator, for about $148K in all. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the wstETH / RLUSD market?
Lenders earn 3.78% a year right now (3.66% averaged over 30 days). Most lend through vaults, such as Sentora RLUSD Main, which spread deposits across several markets.
More ways to borrow against wstETH
Other loan assets with wstETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| wstETH / USDTEthereum · LLTV 86% | 4.37% | 4.81% |
| wstETH / WETHEthereum · LLTV 96.5% | 2.01% | 2.22% |
| wstETH / WETHMonad · LLTV 94.5% | 1.54%+1.50% rewards | 1.71% |
| wstETH / WETHEthereum · LLTV 94.5% | 1.62% | 1.82% |
| wstETH / USDCEthereum · LLTV 86% | 4.50% | 5.00% |
| wstETH / USDCEthereum · LLTV 86% | 4.57% | 5.08% |
