Markets
1,272 active markets across 12 chains · $3.43B active loans · $163.16M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-06-10
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: 1,777 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 | USDC | sDOLA | 92% | $0 | $0 | 0.0% | 0.00% | 0.03% | N/A | 359d |
| Polygon | USDC | 77% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 184d | |
| Ethereum | USDT | tBTC | 86% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 174d |
| Ethereum | PT-corn-SolvBTC.BBN-26DEC2024 | cbBTC | 92% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 582d |
| Ethereum | USDT | PT-RUSD-30OCT2025 | 92% | $0 | $0 | 48.9% | 2.11% | 4.42% | N/A | 319d |
| Ethereum | USDC | yUSD | 92% | $0 | $0 | 0.0% | 0.00% | 0.03% | N/A | 401d |
| Ethereum | USDS | N/A | 0% | $0 | $0 | 0.0% | 0.00% | 0.00% | N/A | 633d |
| Ethereum | WETH | LsETH | 95% | $0 | $0 | 0.0% | 0.00% | 0.03% | N/A | 352d |
| Polygon | BRLA | XAUt0 | 86% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 58d |
| Polygon | tGBP | WBTC | 86% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 167d |
| Ethereum | WETH | wstETH | 95% | $0 | $0 | 85.6% | 1.66% | 1.94% | N/A | 226d |
| Ethereum | USDC | PT-jrUSDe-2APR2026 | 86% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 154d |
| Ethereum | USDC | uniBTC | 77% | $0 | $0 | 85.0% | 0.08% | 0.10% | N/A | 173d |
| Ethereum | USDC | USYC | 86% | $0 | $0 | 0.0% | 0.00% | 0.27% | N/A | 59d |
| Ethereum | USDC | PWrUSDC-tac | 98% | $0 | $0 | 0.0% | 0.00% | 0.00% | N/A | 416d |
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 June 10, 2026 from /markets.