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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | USDC | FUSD | 77% | $1.4M | $1.4M | 100.0% | N/A | N/A | N/A | 103d |
| Ethereum | DAI | sUSDe | 86% | $1.43M | $1.28M | 90.1% | 5.30% | 5.90% | $75.75K | 913d |
| Base | USDC | RSS | 77% | $1.48M | $1.48M | 100.0% | N/A | N/A | N/A | 62d |
| Ethereum | USDC | weETH | 86% | $1.49M | $1.34M | 90.2% | 4.37% | 4.86% | $65.11K | 720d |
| Arbitrum | USDC | RLP | 86% | $1.49M | $1.49M | 100.0% | N/A | N/A | N/A | 296d |
| Ethereum | RLUSD | wstETH | 86% | $1.52M | $1.37M | 90.1% | 3.46% | 3.85% | $52.63K | 193d |
| Ethereum | EURC | WBTC | 86% | $1.52M | $1.35M | 88.9% | 2.38% | 2.68% | $36.2K | 437d |
| Ethereum | USDT | weETH | 86% | $1.55M | $1.31M | 84.7% | 2.65% | 3.14% | $41.17K | 264d |
| Worldchain | USDC | WLD | 77% | $1.56M | $1.41M | 90.0% | 4.11% | 4.58% | $64.51K | 521d |
| Ethereum | USDS | wstETH | 86% | $1.57M | $1.34M | 85.3% | 3.00% | 3.52% | $47.02K | 213d |
| Arbitrum | USDC | weETH | 86% | $1.57M | $1.42M | 90.2% | 4.05% | 4.50% | $63.72K | 424d |
| Monad | AUSD | naccUSDC | 86% | $1.58M | $1.37M | 87.1% | 6.62% | 7.63% | $104.78K | 59d |
| Ethereum | USDC | sUSN | 86% | $1.69M | $1.45M | 85.9% | 7.55% | 8.85% | $128.36K | 257d |
| Arbitrum | USDT0 | weETH | 86% | $1.71M | $1.57M | 92.2% | 6.34% | 6.90% | $108.6K | 256d |
| Ethereum | USDC | srRoyUSDC | 92% | $1.75M | $1.49M | 85.3% | 7.99% | 9.43% | $140.63K | 212d |
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.