Markets
1,661 active markets across 14 chains · $5.08B active loans · $284.35M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Tempo | pathUSD | syrupUSDC | 92% | $2.14K | $0.1 | 0.0% | 0.00% | 0.03% | $0 | 128d |
| Ethereum | RLUSD | wstETH | 86% | $2.16K | $0.92 | 0.0% | 0.00% | 0.13% | $0 | 142d |
| Ethereum | eUSD | wstETH | 86% | $2.18K | $1.99K | 91.4% | 1.45% | 1.59% | $31.67 | 784d |
| Robinhood Chain | WETH | NVDA | 39% | $2.22K | $0 | 0.0% | 0.00% | 0.26% | N/A | 19d |
| HyperEVM | USD₮0 | wstHYPE | 77% | $2.22K | $1.41K | 63.5% | 14.87% | 24.40% | $344.28 | 491d |
| Base | WETH | weETH | 92% | $2.23K | $1.73K | 77.6% | 1.78% | 2.30% | $39.76 | 780d |
| Ethereum | apxUSD | sDOLA | 86% | $2.23K | $2.23K | 100.0% | 0.70% | 0.70% | $15.65 | 140d |
| Base | WETH | ezETH | 92% | $2.27K | $1.97K | 86.5% | 0.11% | 0.12% | $2.42 | 821d |
| HyperEVM | USDe | UETH | 86% | $2.3K | $2.3K | 100.0% | 8.23% | 8.23% | $189.55 | 491d |
| Ethereum | WETH | pufETH | 86% | $2.31K | $1.91K | 82.4% | 31.53% | 39.48% | $752.56 | 854d |
| Ethereum | USDCV | N/A | 0% | $2.49K | $0 | 0.0% | 0.00% | 0.00% | N/A | 356d |
| Ethereum | frxUSD | cbBTC | 86% | $2.49K | $2.24K | 89.7% | 0.57% | 0.64% | $14.34 | 202d |
| Robinhood Chain | USDG | VMAG | 63% | $2.5K | $0 | 0.0% | 0.00% | 0.67% | N/A | 6d |
| Ethereum | USDC | yUSD | 92% | $2.53K | $2.53K | 100.0% | N/A | N/A | N/A | 492d |
| Polygon | WPOL | TruMATIC | 95% | $2.6K | $2.6K | 100.0% | N/A | N/A | N/A | 496d |
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.