Markets
1,655 active markets across 14 chains · $5.08B active loans · $283.38M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-10
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: 2,145 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Polygon | USDC | MaticX | 77% | $101.24 | $90.81 | 89.7% | N/A | N/A | N/A | 567d |
| HyperEVM | USDe | N/A | 0% | $101.97 | $0 | 0.0% | 0.00% | 0.00% | N/A | 498d |
| Ethereum | USDC | DAI | 86% | $102.43 | $0.1 | 0.1% | 0.00% | 0.03% | $0 | 957d |
| Robinhood Chain | USDG | COST | 39% | $102.49 | $0 | 0.0% | 0.00% | 0.18% | N/A | 14d |
| Robinhood Chain | USDG | DELL | 63% | $102.49 | $0 | 0.0% | 0.00% | 0.03% | N/A | 28d |
| Robinhood Chain | USDG | GME | 63% | $102.49 | $0 | 0.0% | 0.00% | 0.03% | N/A | 47d |
| Robinhood Chain | USDG | SLV | 63% | $102.49 | $0 | 0.0% | 0.00% | 0.03% | N/A | 48d |
| Robinhood Chain | USDG | DJT | 39% | $102.5 | $0 | 0.0% | 0.00% | 0.18% | N/A | 14d |
| Ethereum | USDC | yUSD-old | 92% | $102.6 | $102.33 | 99.7% | N/A | N/A | N/A | 524d |
| Base | USDC | SKI | 77% | $102.88 | $0.05 | 0.0% | 0.00% | 0.03% | $0 | 373d |
| Base | msETH | wstETH | 95% | $104.76 | $94.29 | 90.0% | 2.63% | 2.93% | $2.76 | 414d |
| Ethereum | VUSD | WETH | 86% | $105.01 | $94.47 | 90.0% | 28.91% | 32.68% | $30.87 | 177d |
| Ethereum | DAI | sUSDe | 77% | $105.24 | $13.01 | 12.4% | 0.00% | 0.04% | $0 | 910d |
| Polygon | USDC | 77% | $105.29 | $0 | 0.0% | 0.00% | 0.03% | N/A | 276d | |
| HyperEVM | USDe | wstHYPE | 77% | $106.32 | $63.4 | 59.6% | 2.92% | 4.94% | $3.13 | 491d |
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 10, 2026 from /markets.