Markets
1,669 active markets across 14 chains · $5.16B active loans · $282.62M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Monad | USDC | PT-USDat-14JAN2027 | 92% | $18.48M | $16.53M | 89.4% | 5.08% | 5.70% | $941.78K | 41d |
| Ethereum | USDC | PT-USD3-17DEC2026 | 86% | $18.95M | $17.08M | 90.1% | 6.35% | 7.07% | $1.21M | 101d |
| Ethereum | USDC | PST | 86% | $19.67M | $17.77M | 90.3% | 6.53% | 7.25% | $1.29M | 107d |
| HyperEVM | WHYPE | kHYPE | 86% | $19.91M | $15.1M | 75.8% | 1.22% | 1.61% | $242.92K | 426d |
| Ethereum | USDT | sUSDS | 97% | $21.49M | $17.96M | 83.5% | 2.50% | 3.00% | $537.97K | 670d |
| Ethereum | USDC | wFalconX | 92% | $21.9M | $19.17M | 87.6% | 4.85% | 5.55% | $1.06M | 115d |
| Base | USDC | USR | 92% | $22.06M | $22.06M | 100.0% | N/A | N/A | N/A | 572d |
| Base | USDC | mGLO | 92% | $24.27M | $21.84M | 90.0% | 4.99% | 5.56% | $1.21M | 88d |
| Ethereum | USDC | mF-ONE | 92% | $25.32M | $22.88M | 90.3% | 6.34% | 7.04% | $1.61M | 452d |
| Ethereum | PYUSD | mWIN | 77% | $26.24M | $23.97M | 91.3% | 1.99% | 2.18% | $523.62K | 44d |
| Ethereum | WBTC | N/A | 0% | $28.4M | $0 | 0.0% | 0.00% | 0.00% | N/A | 917d |
| Ethereum | USDT | cbBTC | 86% | $29.91M | $25.09M | 83.9% | 2.54% | 3.04% | $762.44K | 149d |
| Ethereum | USDC | wstETH | 86% | $30.81M | $27.79M | 90.2% | 4.28% | 4.76% | $1.32M | 985d |
| Robinhood Chain | USDG | mGLO | 92% | $31.3M | $28.49M | 91.0% | 5.00% | 5.50% | $1.57M | 32d |
| Ethereum | WETH | wstETH | 95% | $31.96M | $28.5M | 89.2% | 1.65% | 1.86% | $529.37K | 902d |
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.