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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | PYUSD | wstETH | 86% | $3.82M | $2.79M | 73.0% | 2.83% | 3.90% | $108.63K | 273d |
| Worldchain | USDC | WBTC | 86% | $3.94M | $3.56M | 90.3% | 0.39% | 0.43% | $15.44K | 521d |
| Ethereum | WETH | savETH | 92% | $3.96M | $3.56M | 89.9% | 3.26% | 3.64% | $129.36K | 241d |
| Ethereum | USDC | PT-USDG-24SEP2026 | 92% | $3.98M | $3.59M | 90.0% | 1.81% | 2.01% | $72.01K | 81d |
| Base | EURC | cbBTC | 86% | $4.06M | $3.41M | 84.0% | 3.02% | 3.60% | $122.81K | 729d |
| Ethereum | USDS | cbBTC | 86% | $4.14M | $3.76M | 90.8% | 3.08% | 3.40% | $127.76K | 213d |
| Ethereum | AUSD | PRIME | 86% | $4.24M | $3.95M | 93.4% | 4.72% | 5.06% | $200.24K | 25d |
| Ethereum | USDC | PT-apyUSD-18JUN2026 | 86% | $4.29M | $3.48M | 81.1% | 8.45% | 10.52% | $365.92K | 174d |
| Ethereum | USDC | wJAAA | 98% | $4.31M | $3.85M | 89.5% | 3.34% | 3.74% | $144.16K | 153d |
| Ethereum | AUSD | sUSDai | 86% | $4.52M | $4.29M | 95.0% | 5.60% | 5.91% | $253.55K | 25d |
| Ethereum | AUSD | sUSDai | 92% | $4.94M | $4.62M | 93.5% | 6.17% | 6.61% | $305.35K | 75d |
| Monad | mUSD | PT-AUSD-8OCT2026 | 92% | $4.99M | $4.64M | 93.0% | 8.69% | 9.37% | $435.02K | 80d |
| Ethereum | EURCV | WBTC | 86% | $5.09M | $4.65M | 91.4% | 2.46% | 2.70% | $125.54K | 349d |
| Ethereum | USDC | WETH | 86% | $5.13M | $4.62M | 90.1% | 4.18% | 4.65% | $214.67K | 223d |
| HyperEVM | USD₮0 | AVLT | 92% | $5.2M | $5.2M | 100.0% | N/A | N/A | N/A | 139d |
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.