wstETH / WBTC on Ethereum

Q: What is the WBTC borrow rate against wstETH on Morpho Ethereum?

In this market it is 0.03% a year right now, and it averaged 0.03% over the last 30 days. The rate is variable: it follows how much of the market's WBTC is borrowed, rising quickly above 90%.

Q: When are wstETH / WBTC 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 0.0203 WBTC.

Q: How much WBTC can be borrowed here right now?

$3.14M is free in the market. Borrowing more than that would have to wait for repayments or new lenders.

Q: What do lenders earn in the wstETH / WBTC market?

Lenders earn 0.00% a year right now (0.01% averaged over 30 days). Most lend through vaults, such as Wintermute Confidential WBTC, which spread deposits across several markets.

A Morpho market on Ethereum where people borrow WBTC against wstETH. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn <0.01% a year and borrowers pay 0.03% right now.

Data from Morpho's API · updated 2026-11-12 18:21 UTC

Borrow APY

0.03%

30-day average 0.03%

Supply APY

<0.01%

30-day average <0.01%

Supplied

$3.15M

43.80 WBTC

Borrowed

$9.6K

0.3% utilization

Available to borrow

$3.14M

free liquidity right now

Collateral posted

$13.6K

5.41 wstETH

Open in the Morpho app ↗Liquidation price calculator Borrow cost calculator

wstETH / WBTC rate history

Average supply and borrow APY for each day

Utilization

wstETH / WBTC 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 0.10% 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 WBTC. 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 WBTC	0.035 WBTCthe market's oracle, which liquidations follow
Oracle	ChainlinkOracleV20x39B4…589d
Price feeds	0x905b…1421 0x5f4e…8419 0xF403…E88c 0xfdFD…BB23
Market fee	Noneshare of interest taken by the protocol

LLTV and liquidations · How oracles work

Details

Loan asset	WBTCprice $71.9K
Collateral	wstETHprice $2.5K
Borrowers	3
Created	September 9, 2026
Market ID	0xa1f52bbd…92da9f
Rate model	0x870a…00BC
wstETH token	0x7f39…2Ca0
WBTC token	0x2260…C599

Vaults lending here

$3.15M of the $3.15M supplied comes from these vaults

Vault	Lent here	Vault net APY	Vault deposits
Wintermute Confidential WBTCV2lends directly	$3.15M	4.80%	$5.74M

Largest borrowers

3 open loans in this market

Address	Borrowed	Collateral	Health	Price drop to liquidation
0xFF76…fB4c	$8.5K	$11.8K	1.20	16.4%
0x0707…e1AA	$1.5K	$2.3K	1.32	24.2%
0x694c…8310	$1.00	$2.00	1.42	29.4%

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

All liquidations →

About the wstETH / WBTC market

The wstETH / WBTC market on Ethereum was created on September 9, 2026. Anyone can lend WBTC into it, and anyone holding wstETH can borrow that WBTC against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.

Right now $3.15M is supplied and $9.6K borrowed, so 0.3% of the market is in use, backed by $13.6K of wstETH from 3 borrowers. Borrowers pay 0.03% a year, 0.03% on average over the last 30 days. Lenders earn 0.00%.

1 listed vault lends here, providing $3.15M of the supply; the largest is Wintermute Confidential WBTC. Liquidators who close an unsafe loan here receive a 4.38% bonus in wstETH. If wstETH fell 20% against WBTC, about $11.8K of collateral would be at risk of liquidation.