Markets
1,669 active markets across 14 chains · $5.17B active loans · $283.1M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-14
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: 2,159 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| HyperEVM | USDC | wstHYPE | 77% | $1.16M | $1.05M | 90.2% | 6.83% | 7.60% | $79.5K | 286d |
| Monad | USDC | aHyperBTC | 77% | $1.16M | $1.06M | 91.4% | 4.15% | 4.55% | $48.36K | 39d |
| HyperEVM | USD₮0 | UBTC | 77% | $1.19M | $998.98K | 84.2% | 6.23% | 7.44% | $74.37K | 492d |
| Ethereum | USDC | weETH | 77% | $1.21M | $1.1M | 90.9% | 4.38% | 4.84% | $53.25K | 132d |
| HyperEVM | USDC | WHYPE | 63% | $1.22M | $1.14M | 93.0% | 13.20% | 14.26% | $162.37K | 366d |
| Ethereum | USDC | PT-USDat-14JAN2027 | 92% | $1.24M | $1.14M | 92.0% | 5.44% | 5.93% | $67.42K | 33d |
| Base | EURC | wstETH | 86% | $1.25M | $1.06M | 84.5% | 3.05% | 3.62% | $38.41K | 733d |
| HyperEVM | WHYPE | lstHYPE | 92% | $1.26M | $1.08M | 85.7% | 4.44% | 5.20% | $56.16K | 324d |
| Worldchain | WETH | ezETH | 95% | $1.26M | $1.13M | 89.5% | 0.11% | 0.13% | $1.43K | 502d |
| Ethereum | WBTC | SolvBTC | 95% | $1.29M | $1.17M | 90.5% | 0.11% | 0.13% | $1.47K | 396d |
| Ethereum | USDC | nvPRIME | 86% | $1.29M | $1.18M | 91.5% | 6.63% | 7.26% | $85.77K | 40d |
| Base | USDC | HERMES | 98% | $1.32M | $1.32M | 100.0% | N/A | N/A | N/A | 182d |
| Base | USDC | PT-USDai-18JUN2026-(ARB) | 92% | $1.32M | $1.22M | 92.2% | 8.36% | 9.10% | $110.91K | 202d |
| Ethereum | USDC | PT-strUSD-26NOV2026 | 86% | $1.33M | $1.21M | 91.0% | 6.79% | 7.48% | $90.85K | 45d |
| Base | WETH | weETH | 95% | $1.34M | $1.21M | 90.3% | 1.71% | 1.90% | $22.89K | 489d |
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 14, 2026 from /markets.