mHyperBTC / cbBTC on Monad
A Morpho market on Monad where people borrow cbBTC against mHyperBTC. A loan can be liquidated once it reaches 77% of the collateral's value. Lenders earn 3.94% a year and borrowers pay 4.36% right now.
Data from Morpho's API · updated
Borrow APY
4.36%
30-day average 3.86%
Supply APY
3.94%
30-day average 3.51%
Supplied
$4.05M
48.22 cbBTC
Borrowed
$3.66M
90.5% utilization
Available to borrow
$385K
free liquidity right now
Collateral posted
$4.92M
57.07 mHyperBTC
mHyperBTC / cbBTC rate history
Average supply and borrow APY for each day
Borrow APY Supply APY
| Day | Supply APY | Borrow APY | Utilization |
|---|
Utilization
mHyperBTC / cbBTC 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 3.82% 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 mHyperBTC collateral could be liquidated if its price fell by each amount
Based on today's loans and today's mHyperBTC price in cbBTC. 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 |
| mHyperBTC price in cbBTC | 1.03 cbBTC |
| Oracle | ChainlinkOracleV20xCb8D…F01F |
| Price feeds | 0x165d…FD8c |
| Market fee | Noneshare of interest taken by the protocol |
Details
| Loan asset | cbBTCprice $83.9K |
|---|---|
| Collateral | mHyperBTCprice $86.1K |
| Borrowers | 2 |
| Created | March 19, 2026 |
| Market ID | 0x1456e298…dd3ead |
| Rate model | 0x0947…400F |
| mHyperBTC token | 0xF7Cf…92BC |
| cbBTC token | 0xd18B…414b |
Vaults lending here
$4.05M of the $4.05M supplied comes from these vaults
| Vault | Lent here |
|---|---|
| Hyperithm cbBTC ApexV2lends directly | $4.05M |
Largest borrowers
2 open loans in this market
| Address | Borrowed | Health |
|---|---|---|
| 0xCc63…9a74 | $3.67M | 1.03 |
| 0x594c…D562 | $0 | 5.49 |
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 mHyperBTC / cbBTC market
The mHyperBTC / cbBTC market on Monad was created on March 19, 2026. Anyone can lend cbBTC into it, and anyone holding mHyperBTC can borrow that cbBTC against it, up to a loan-to-value of 77% (its LLTV), where liquidation starts. Prices come from Chainlink-style price feeds.
Right now $4.05M is supplied and $3.66M borrowed, so 90.5% of the market is in use, backed by $4.92M of mHyperBTC from 2 borrowers. Borrowers pay 4.36% a year, 3.86% on average over the last 30 days. Lenders earn 3.94%.
1 listed vault lends here, providing $4.05M of the supply; the largest is Hyperithm cbBTC Apex. Liquidators who close an unsafe loan here receive a 7.41% bonus in mHyperBTC. If mHyperBTC fell 20% against cbBTC, about $4.93M of collateral would be at risk of liquidation.
mHyperBTC / cbBTC on Monad: quick answers
What is the cbBTC borrow rate against mHyperBTC on Morpho Monad?
In this market it is 4.36% a year right now, and it averaged 3.86% over the last 30 days. The rate is variable: it follows how much of the market's cbBTC is borrowed, rising quickly above 90%.
When is a mHyperBTC / cbBTC loan liquidated?
When the loan reaches 77% of the collateral's value (the market's LLTV). A liquidator then repays part of the debt and takes mHyperBTC worth 7.41% more than it repaid. For example, a loan of half the collateral's value today would be liquidated if mHyperBTC fell to about 0.666 cbBTC.
How much cbBTC can be borrowed here right now?
$385K is free in the market. Borrowing more than that would have to wait for repayments or new lenders.
What do lenders earn in the mHyperBTC / cbBTC market?
Lenders earn 3.94% a year right now (3.51% averaged over 30 days). Most lend through vaults, such as Hyperithm cbBTC Apex, which spread deposits across several markets.
More ways to borrow against mHyperBTC
Other loan assets with mHyperBTC as collateral
| Market | Supply APY | Borrow APY |
|---|---|---|
| mHyperBTC / USDCEthereum · LLTV 77% | 8.74% | 9.75% |
