Markets
1,661 active markets across 14 chains · $5.07B active loans · $290.23M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-11
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: 2,151 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 | mUSD | sUSDe | 92% | $839 | $0.91 | 0.1% | 0.00% | 0.49% | $0 | 76d |
| Ethereum | USDC | PT-iUSD-25JUN2026 | 92% | $853.7 | $0.93 | 0.1% | 0.00% | 0.98% | $0.01 | 199d |
| Ethereum | DAI | PT-sUSDE-26DEC2024 | 92% | $870.52 | $870.52 | 100.0% | N/A | N/A | N/A | 706d |
| Ethereum | BOLD | N/A | 0% | $897.7 | $0 | 0.0% | 0.00% | 0.00% | N/A | 454d |
| Base | USDC | WETH | 86% | $899.69 | $0 | 0.0% | 0.00% | 0.03% | N/A | 660d |
| Ethereum | USDC | jrUSDe | 86% | $913.79 | $4.17 | 0.5% | 0.01% | 1.36% | $0.06 | 286d |
| Ethereum | FRAX | N/A | 0% | $936.39 | $0 | 0.0% | 0.00% | 0.00% | N/A | 101d |
| Ethereum | FRAX | USDe | 95% | $941.72 | $6.23 | 0.7% | 0.00% | 0.03% | $0 | 882d |
| Monad | USD1 | wsrUSD | 92% | $960.98 | $960.98 | 100.0% | 9.87% | 9.87% | $94.85 | 168d |
| Ethereum | ZCHF | WBTC | 86% | $971.01 | $948.75 | 97.7% | 17.95% | 18.41% | $174.7 | 549d |
| Polygon | USDT0 | WETH | 86% | $989.15 | $732.89 | 74.1% | 3.53% | 4.79% | $35.12 | 567d |
| Robinhood Chain | USDG | STONKBROKER | 39% | $996.1 | $0 | 0.0% | 0.00% | 0.06% | N/A | 29d |
| Ethereum | USDC | Wrapped-LP-sUSDE-31JUL2025 | 92% | $997.45 | $997.44 | 100.0% | N/A | N/A | N/A | 440d |
| HyperEVM | USDC | UBTC | 63% | $999.93 | $75.34 | 7.5% | 0.04% | 0.47% | $0.36 | 22d |
| Robinhood Chain | USDG | VBILL | 86% | $999.94 | $0 | 0.0% | 0.00% | 0.68% | N/A | 6d |
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 11, 2026 from /markets.