Markets
1,667 active markets across 14 chains · $5.14B active loans · $280.52M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-12
Top 10 markets by active loans
Bars colored by collateral asset class · hover for utilization.
Utilization × borrow APY
Each dot a market. Bubble size = supply USD, color = collateral asset class. APY clamped at 100% (degenerate IRMs excluded).
LLTV distribution
Supply-USD-weighted. Where Morpho's risk concentrates. Bars colored by the bracket's dominant collateral class.
Market directory: 2,157 matches
Click a header to sort, a row to copy its unique key. Supply/Borrow APY clamped at 100% (degenerate IRMs show "N/A").
| Chain· | Loan· | Collateral· | LLTV· | Supply↑ | Active Loans· | Util· | Supply APY· | Borrow APY· | Borrow Int.· | Age· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | XAUt | XAUE | 77% | $11.7K | $9.2K | 78.7% | 0.73% | 0.92% | $85.02 | 59d |
| Ethereum | USDC | PWrUSDC-hyper | 98% | $11.89K | $0 | 0.0% | 0.00% | 0.00% | N/A | 460d |
| Katana | dUSD | LBTC | 77% | $11.96K | $11.96K | 100.0% | N/A | N/A | N/A | 319d |
| Ethereum | USDS | WETH | 86% | $11.99K | $3.42K | 28.6% | 2.21% | 7.96% | $272.38 | 212d |
| Ethereum | WETH | yETH | 92% | $12.09K | $12.09K | 100.0% | N/A | N/A | N/A | 357d |
| Robinhood Chain | USDG | PONS | 39% | $12.39K | $92.63 | 0.7% | 0.00% | 0.25% | $0.23 | 10d |
| Ethereum | AUSD | PRIME | 86% | $12.48K | $10.95K | 87.8% | 4.78% | 5.46% | $598.44 | 73d |
| Ethereum | WETH | STONE | 95% | $12.51K | $11.59K | 92.6% | 16.45% | 17.89% | $2.07K | 738d |
| Robinhood Chain | USDG | TSLA | 63% | $13.11K | $1.52 | 0.0% | 0.00% | 0.03% | $0 | 45d |
| Robinhood Chain | USDG | NVDA | 63% | $13.13K | $27.13 | 0.2% | 0.00% | 0.03% | $0.01 | 50d |
| Katana | dUSD | yvvbUSDT | 86% | $13.41K | $13.41K | 100.0% | 27.44% | 27.44% | $3.68K | 320d |
| Ethereum | USDC | PT-reUSD-25JUN2026 | 92% | $13.44K | $2.26K | 16.8% | 0.01% | 0.04% | $0.88 | 277d |
| Ethereum | USDC | PT-stcUSD-29JAN2026 | 92% | $13.58K | $11.53K | 84.9% | 9.55% | 11.34% | $1.31K | 379d |
| Ethereum | EURCV | N/A | 0% | $14.84K | $0 | 0.0% | 0.00% | 0.00% | N/A | 802d |
| Monad | USDC | WETH | 86% | $14.86K | $13.95K | 93.9% | 5.08% | 5.42% | $755.94 | 295d |
Morpho markets are isolated lending positions: one loan asset, one collateral asset, one fixed LLTV, one IRM. Each market is independent. No shared liquidity, no cross-market contagion. Supply USD is what lenders have deposited; Active Loans is what borrowers have drawn. Utilization is loans ÷ supply. LLTV is the maximum loan-to-value at which a position can be opened without liquidation risk. Borrow interest = active loans × borrow APY (clamped at 100%).
Supply/borrow APY ≥ 100% are saturated-utilization IRM blow-ups (BONDUSD/USR, K/USDC on Arbitrum, the HERMES family on Base). Those rows show ". " and are excluded from weighted KPIs, the histogram and the scatter. Bad debt is Morpho's stored unrealized figure.
Datum Labs. (2026). Morpho Research Terminal: Market directory. Retrieved September 12, 2026 from /markets.