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HyperEVM
Hyperliquid L1
Live since MAY 2025
#2 of 3 lending protocols
Active Loans
$87M
30d -7.2%
Borrow Interest
$5.25M
annualized
Net Interest Margin
110 bps
weighted spread
Utilization
23.2%
loans ÷ deposits
Active Loans 30d Δ
-7.2%
vs 30 days ago
TVL
$336.91M
share 35.5%
Lending TVL on HyperEVM. Top 4 Protocols
Top 4 lending protocols on HyperEVM by TVL. 7-day moving average.
HyperLend Pooled
Morpho
Felix CDP
Euler V2
Top Markets on HyperEVM
| Market | Total Supply | Active Loans | Utilization | Supply APY | Borrow APY | Borrow Interest |
|---|---|---|---|---|---|---|
| WHYPE / USDC77% LLTV | $45.4M | $37.95M | 83.6% | 5.76% | 6.93% | $2.63M |
| kHYPE / WHYPE86% LLTV | $21.41M | $16.31M | 76.2% | 1.37% | 1.80% | $292.98K |
| kHYPE / USDC63% LLTV | $10.64M | $8.93M | 83.9% | 5.79% | 6.93% | $619.06K |
| kHYPE / USDC77% LLTV | $8.31M | $6.99M | 84.2% | 5.82% | 6.95% | $486.09K |
| kHYPE / USD₮063% LLTV | $5.81M | $4.89M | 84.2% | 6.55% | 7.82% | $382.85K |
| WHYPE / USD₮063% LLTV | $5.16M | $4.41M | 85.5% | 6.66% | 7.83% | $345.76K |
| WHYPE / USDC63% LLTV | $1.52M | $1.3M | 85.7% | 5.86% | 6.88% | $89.73K |
| lstHYPE / WHYPE92% LLTV | $1.25M | $1.13M | 90.9% | 5.56% | 6.13% | $69.42K |
| wstHYPE / USDC77% LLTV | $1.21M | $1.03M | 85.1% | 5.85% | 6.92% | $71.22K |
| UBTC / USD₮077% LLTV | $1.19M | $1M | 84.1% | 6.49% | 7.76% | $77.64K |
Top Vaults on HyperEVM
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Felix HYPE | Felix | WHYPE | $18.41M | 1.24% | 10.0% | $2.08K | +$2.67M |
| Felix USDC (Frontier) | Felix | USDC | $15.18M | 5.19% | 10.0% | $7.22K | -$21.93M |
| Felix USDC | Felix | USDC | $8.43M | 5.20% | 10.0% | $4.01K | -$4.85M |
| Felix USDT0 | Felix | USD₮0 | $4.68M | 5.87% | 10.0% | $2.51K | -$3.73M |
| Gauntlet USDC | Gauntlet | USDC | $2.19M | 5.24% | 10.0% | $1.05K | -$1.55M |
| OUSD Vault V1 | Yearn | USDC | $1.04M | 5.50% | 5.0% | $248.28 | +$5.91K |
| MEV Capital HYPE | MEV Capital | WHYPE | $880.23K | 4.11% | 10.0% | $331.24 | -$124.35K |
| Gauntlet USDT0 Vault | Gauntlet | USD₮0 | $484.96K | 5.84% | 10.0% | $259.68 | -$20.99K |
| Felix USDe | Felix | USDe | $370.69K | 7.26% | 10.0% | $246.74 | -$141.42K |
| Felix USDT0 (Frontier) | Felix | USD₮0 | $310.54K | 5.71% | 10.0% | $162.33 | -$448.41K |
Curator Presence on HyperEVM
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Felix | 10 | $47.54M | $197.56K | 3.73% | $47.54M |
| Gauntlet | 6 | $2.9M | $16.18K | 5.01% | $593.42M |
| Yearn | 1 | $1.04M | $3.02K | 5.50% | $38.55M |
| MEV Capital | 3 | $909.13K | $4.07K | 2499.66% | $9.72M |
| Hyperithm | 2 | $7.35K | $20.5 | 2.51% | $2.57M |
| RE7 Labs | 2 | $25.26 | $0 | 0.00% | $1.13M |
Loan Asset Mix. What Morpho Lends on HyperEVM
- Stablecoins· top USDC$81.8M77.2%
- Other· top WHYPE$24.1M22.8%
Stablecoins make up 77.2% of Morpho supply on this chain. Top stable: USDC ($67.9M).
Collateral Mix. What Backs Loans on HyperEVM
- Other· top kHYPE$262.9M97.9%
- BTC-pegged· top UBTC$4.7M1.7%
- LRTs / PTs· top PT-kHYPE-24SEP2026$918.8K0.3%
- Stablecoins· top hbUSDT$54.1K0.0%
Stablecoins make up 0.0% of Morpho supply on this chain. Top stable: hbUSDT ($53.5K).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on HyperEVM: $5.25M
48%
48%
- To Lenders · via vaults$2.5M 48%
- To Lenders · direct supply$2.53M 48%
- To Curators$220.87K 4%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (49.7%)
Supply Rates vs Competitors on HyperEVM
Morpho supply APY against the best competing venue, per asset.
No assets with both a Morpho market and a competitor market on this chain
As of 2026-09-07 · loan-book metrics from Morpho market/vault state