Markets
1,668 active markets across 14 chains · $5.14B active loans · $287.77M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-13
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: 2,158 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 | cbBTC | LBTC | 95% | $170.87K | $145.23K | 85.0% | 3.61% | 4.27% | $6.2K | 709d |
| HyperEVM | USD₮0 | WHYPE | 77% | $180.75K | $149.81K | 82.9% | 5.91% | 7.17% | $10.74K | 394d |
| Monad | USDC | FUSDLP | 97% | $185.33K | $166.79K | 90.0% | 2.94% | 3.27% | $5.46K | 150d |
| Katana | vbUSDC | FXRP | 77% | $185.36K | $167.17K | 90.2% | 2.56% | 2.85% | $4.76K | 25d |
| Ethereum | WETH | cbBTC | 92% | $188.88K | $77.36K | 41.0% | 0.02% | 0.06% | $45.76 | 738d |
| Base | XSGD | steakUSDC | 92% | $189.08K | $145.04K | 76.7% | 0.55% | 0.71% | $1.03K | 295d |
| Base | MXNB | USDC | 92% | $189.22K | $170.31K | 90.0% | 5.41% | 6.02% | $10.26K | 113d |
| Polygon | USDT0 | MaticX | 77% | $189.46K | $172.15K | 90.9% | 15.21% | 16.87% | $29.04K | 569d |
| HyperEVM | USD₮0 | UBTC | 86% | $198.06K | $147.53K | 74.5% | 5.10% | 6.90% | $10.18K | 372d |
| Base | jEUR | PT-sjEUR(jEURx)-2026/10/13 | 86% | $199.23K | $174.72K | 87.7% | 2.01% | 2.29% | $4K | 53d |
| Base | USDC | RSS | 92% | $200.05K | $200.05K | 100.0% | 17.85% | 17.85% | $35.7K | 49d |
| Base | EURC | cbETH | 86% | $202.9K | $173.91K | 85.7% | 3.15% | 3.68% | $6.4K | 732d |
| HyperEVM | WHYPE | wstHYPE | 86% | $203.98K | $183.43K | 89.9% | 0.43% | 0.48% | $885.64 | 449d |
| Monad | AUSD | wsrUSD | 86% | $205.54K | $190.31K | 92.6% | 18.63% | 20.26% | $38.56K | 284d |
| Ethereum | DAI | N/A | 0% | $211.59K | $0 | 0.0% | 0.00% | 0.00% | N/A | 911d |
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 13, 2026 from /markets.