cbBTC / USDC on Monad
A Morpho market on Monad where people borrow USDC against cbBTC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 23.90% a year and borrowers pay 25.95% right now.
Data from Morpho's API · updated
Borrow APY
25.95%
30-day average 15.61%
Supply APY
23.90%
30-day average 13.76%
Supplied
$8.0K
8.04K USDC
Borrowed
$7.5K
92.9% utilization
Available to borrow
$572
free liquidity right now
Collateral posted
$17.2K
0.239 cbBTC
cbBTC / USDC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
cbBTC / USDC 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 13.16% 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 cbBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's cbBTC price in USDC. Borrowers who repay or add collateral move these numbers every day.
Risk settings
| Liquidation LTV (LLTV) | 77%fixed for the life of the market |
|---|---|
| Liquidation bonus | 7.41%extra collateral a liquidator receives |
| cbBTC price in USDC | 71.88K USDCthe market's oracle, which liquidations follow |
| Oracle | ChainlinkOracleV20x0C68…5836 |
| Price feeds | 0x3dDc…d6BD 0xf5F1…ebec |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | USDCprice $0.9997 |
|---|---|
| Collateral | cbBTCprice $71.8K |
| Borrowers | 4 |
| Created | March 13, 2026 |
| Market ID | 0x7aeb107b…bc9f7e |
| Rate model | 0x0947…400F |
| cbBTC token | 0xd18B…414b |
| USDC token | 0x7547…b603 |
Vaults lending here
$158 of the $8.0K supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Hyperithm USDC ApexV2lends directly | $158 |
Largest borrowers
4 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0x210F…4b14 | $7.5K | 1.81 |
| 0xA97b…6AE1 | $5.00 | 1.88 |
| 0x594c…D562 | $0 | 3.08 |
| 0x4e97…7034 | $0 | 1.17 |
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 cbBTC / USDC market
The cbBTC / USDC market on Monad was created on March 13, 2026. Anyone can lend USDC into it, and anyone holding cbBTC can borrow that USDC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $8.0K is supplied and $7.5K borrowed, so 92.9% of the market is in use, backed by $17.2K of cbBTC from 4 borrowers. Borrowers pay 25.95% a year, 15.61% on average over the last 30 days. Lenders earn 23.90%.
1 listed vault lends here, providing $158 of the supply; the largest is Hyperithm USDC Apex. Liquidators who close an unsafe loan here receive a 7.41% bonus in cbBTC.
cbBTC / USDC on Monad: quick answers
What is the USDC borrow rate against cbBTC on Morpho Monad?
In this market it is 25.95% a year right now, and it averaged 15.61% over the last 30 days. The rate is variable: it follows how much of the market's USDC is borrowed, rising quickly above 90%.
When are cbBTC / USDC loans liquidated?
When a loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes cbBTC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if cbBTC fell to about 46.67K USDC.
How much USDC can be borrowed here right now?
$572 is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the cbBTC / USDC market?
Lenders earn 23.90% a year right now (13.76% averaged over 30 days). Vaults provide 2% of the supply here (Hyperithm USDC Apex); the rest comes from people lending directly.
Other cbBTC / USDC markets
The same pair with a different LLTV, oracle or network
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / USDCBase · LLTV 86% | 4.52% | 5.33% |
| cbBTC / USDCEthereum · LLTV 86% | 4.37% | 5.10% |
| cbBTC / USDCEthereum · LLTV 86% | 4.48% | 4.99% |
| cbBTC / USDCEthereum · LLTV 86% | 6.44% | 7.26% |
More ways to borrow against cbBTC
Other loan assets with cbBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| cbBTC / EURCVEthereum · LLTV 86% | 1.82% | 2.02% |
| cbBTC / USDTEthereum · LLTV 86% | 3.05% | 3.68% |
| cbBTC / EURCBase · LLTV 86% | 6.88% | 7.37% |
| cbBTC / USDSEthereum · LLTV 86% | 3.96% | 4.40% |
| cbBTC / PYUSDEthereum · LLTV 86% | 3.79% | 4.22% |
| cbBTC / RLUSDEthereum · LLTV 86% | 3.18% | 4.20% |
