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 31.33% a year and borrowers pay 33.46% right now.
Data from Morpho's API · updated
Borrow APY
33.46%
30-day average 18.74%
Supply APY
31.33%
30-day average 17.35%
Supplied
$4.6K
4.56K RLUSD
Borrowed
$4.3K
94.4% utilization
Available to borrow
$255
up to $257 with vault liquidity
Collateral posted
$14.7K
5.84 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 13.22% 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 | 2.51K RLUSDthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x4e58…1653 |
| Price feeds | 0x4F67…8e79 0x5f4e…8419 0x26C4…7f2A |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | RLUSDprice $0.9998 |
|---|---|
| Collateral | wstETHprice $2.5K |
| Borrowers | 7 |
| Created | March 4, 2026 |
| Market ID | 0x88abdf86…683c9d |
| Rate model | 0x870a…00BC |
| wstETH token | 0x7f39…2Ca0 |
| RLUSD token | 0x8292…17eD |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
7 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xB725…509b | $4.1K | 1.44 |
| 0xB5Ac…c436 | $180 | 37.84 |
| 0xA9Ca…f6Ee | $5.00 | 2.60 |
| 0x13DE…90e1 | $1.00 | 1.41 |
| 0x9EAb…922a | $0 | 0.85 |
| 0x167B…A781 | $0 | >99 |
| 0x0313…9315 | $0 | >99 |
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
| When | Debt repaid | Transaction |
|---|---|---|
| $3.573.57 RLUSD | 0xfbf3…f290 |
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 $4.6K is supplied and $4.3K borrowed, so 94.4% of the market is in use, backed by $14.7K of wstETH from 7 borrowers. Borrowers pay 33.46% a year, 18.74% on average over the last 30 days. Lenders earn 31.33%.
No listed vault lends to this market right now, so its supply comes from direct lenders. 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 33.46% a year right now, and it averaged 18.74% 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 are wstETH / RLUSD 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 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 1.46K RLUSD.
How much RLUSD can be borrowed here right now?
$255 is free in the market, and vaults can move in up to $2.13 more through Morpho's public allocator, for about $257 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 31.33% a year right now (17.35% averaged over 30 days). No listed vault lends here, so the supply comes from people lending directly.
More ways to borrow against wstETH
Other loan assets with wstETH as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| wstETH / USDTEthereum · LLTV 86% | 3.00% | 3.66% |
| wstETH / WETHEthereum · LLTV 96.5% | 2.14% | 2.37% |
| wstETH / USDCEthereum · LLTV 86% | 4.48% | 5.16% |
| wstETH / WETHMonad · LLTV 94.5% | 1.39%+1.19% rewards | 1.61% |
| wstETH / WETHEthereum · LLTV 94.5% | 3.02% | 3.29% |
| wstETH / USDCEthereum · LLTV 86% | 4.48% | 5.17% |
