hbUSDT / USD₮0 on HyperEVM
A Morpho market on HyperEVM where people borrow USD₮0 against hbUSDT. A loan can be liquidated once it reaches 86% of the collateral's value. Lenders earn 16.40% a year and borrowers pay 20.91% right now.
Data from Morpho's API · updated
Borrow APY
20.91%
30-day average 25.38%
Supply APY
16.40%
30-day average 21.58%
Supplied
$3.1K
3.12K USD₮0
Borrowed
$2.5K
80.0% utilization
Available to borrow
$624
free liquidity right now
Collateral posted
$3.3K
2.90K hbUSDT
hbUSDT / USD₮0 rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
hbUSDT / USD₮0 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 23.02% 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 hbUSDT collateral could be liquidated if its price fell by each amount
Based on today's loans and today's hbUSDT price in USD₮0. 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 |
| hbUSDT price in USD₮0 | 1.14 USD₮0the market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20xB08B…B84e |
| Price feeds | 0x9657…3f9b 0x5e21…D184 |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USD₮0price $0.9990 |
|---|---|
| Collateral | hbUSDTprice $1.1363 |
| Borrow APY, last year | 11.31% |
| Borrowers | 31 |
| Created | August 14, 2025 |
| Market ID | 0xd5c5b5db…ae7a18 |
| Rate model | 0xD4a4…7483 |
| hbUSDT token | 0x5e10…61eb |
| USD₮0 token | 0xB8CE…5ebb |
Vaults lending here
No listed vault lends to this market right now
Largest borrowers
31 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xfA2f…487b | $926 | 1.03 |
| 0x00d1…e49C | $649 | 1.02 |
| 0x88F5…cA61 | $470 | 1.04 |
| 0x4592…a17C | $205 | 1.39 |
| 0x7E6C…Ca85 | $168 | 1.17 |
| 0xe698…D777 | $41.00 | 1.02 |
| 0xF65D…08b0 | $19.00 | 1.02 |
| 0x1058…9cdA | $2.00 | 1.06 |
| 0x9DF4…67a6 | $1.00 | 94.47 |
| 0xA2ce…9289 | $1.00 | 1.04 |
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, $1.14 of debt repaid
| When | Debt repaid | Transaction |
|---|---|---|
| $1.141.14 USD₮0 | 0xeb66…c5f1 |
About the hbUSDT / USD₮0 market
The hbUSDT / USD₮0 market on HyperEVM was created on August 14, 2025. Anyone can lend USD₮0 into it, and anyone holding hbUSDT can borrow that USD₮0 against it, up to a loan-to-value of 86% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $3.1K is supplied and $2.5K borrowed, so 80.0% of the market is in use, backed by $3.3K of hbUSDT from 31 borrowers. Borrowers pay 20.91% a year, 25.38% on average over the last 30 days and 11.31% over the last year. Lenders earn 16.40%.
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 hbUSDT. If hbUSDT fell 20% against USD₮0, about $2.7K of collateral would be at risk of liquidation. 1 loan was liquidated here in the last 30 days.
hbUSDT / USD₮0 on HyperEVM: quick answers
What is the USD₮0 borrow rate against hbUSDT on Morpho HyperEVM?
In this market it is 20.91% a year right now, and it averaged 25.38% over the last 30 days. The rate is variable: it follows how much of the market's USD₮0 is borrowed, rising quickly above 90%.
When are hbUSDT / USD₮0 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 hbUSDT worth 4.38% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if hbUSDT fell to about 0.662 USD₮0.
How much USD₮0 can be borrowed here right now?
$624 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the hbUSDT / USD₮0 market?
Lenders earn 16.40% a year right now (21.58% averaged over 30 days). No listed vault lends here, so the supply comes from people lending directly.