Markets
1,275 active markets across 12 chains · $3.42B active loans · $159.05M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-06-11
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: 1,780 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 | wstETH | 86% | $2.64M | $2.34M | 88.6% | 3.66% | 4.14% | $96.74K | 55d |
| Ethereum | LINK | wstLINK | 92% | $2.62M | $2.34M | 89.1% | 4.29% | 4.82% | $112.74K | 139d |
| Ethereum | AUSD | PT-USDat-27AUG2026 | 92% | $2.61M | $2.35M | 89.9% | 6.89% | 7.69% | $180.43K | 41d |
| Ethereum | USDC | USD3 | 92% | $2.56M | $2.56M | 99.7% | 13.55% | 13.60% | $347.56K | 203d |
| Ethereum | USDC | rETH | 86% | $2.53M | $2.28M | 90.0% | 3.95% | 4.40% | $100.03K | 72d |
| Monad | USDC | mHYPER | 77% | $2.38M | $2.14M | 89.9% | 5.62% | 6.27% | $134.38K | 129d |
| Worldchain | USDC | WETH | 86% | $2.38M | $2.15M | 90.4% | 1.89% | 2.09% | $44.99K | 426d |
| Arbitrum | USDT0 | sUSDS | 95% | $2.37M | $2.13M | 90.0% | 2.89% | 3.22% | $68.59K | 176d |
| Ethereum | USDC | wFalconX | 92% | $2.3M | $2.12M | 92.2% | 5.18% | 5.63% | $119.46K | 20d |
| Ethereum | EURCV | N/A | 0% | $2.29M | $0 | 0.0% | 0.00% | 0.00% | N/A | 708d |
| Monad | USDC | syzUSD | 92% | $2.27M | $1.95M | 86.0% | 5.36% | 6.26% | $122.07K | 79d |
| Ethereum | frxUSD | stakedao-FrxMsUSD | 95% | $2.2M | $2.02M | 91.9% | 13.04% | 14.27% | $288.66K | 112d |
| Ethereum | WBTC | SolvBTC | 95% | $2.16M | $947.15K | 43.9% | 0.56% | 1.27% | $12.07K | 301d |
| Ethereum | PYUSD | wstETH | 86% | $2.15M | $1.94M | 90.3% | 2.74% | 3.03% | $58.9K | 178d |
| Ethereum | msETH | ynETHx | 92% | $2.15M | $1.79M | 83.4% | 2.29% | 2.76% | $49.41K | 414d |
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 11, 2026 from /markets.