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 | sNUSD | 92% | $1.74M | $1.6M | 92.3% | 7.10% | 7.72% | $123.66K | 143d |
| Arbitrum | USDC | WBTC | 86% | $1.71M | $1.37M | 79.9% | 3.35% | 4.21% | $57.53K | 331d |
| Ethereum | USDC | weETH | 86% | $1.69M | $1.53M | 90.5% | 4.70% | 5.20% | $79.7K | 625d |
| Ethereum | EURCV | cbBTC | 86% | $1.68M | $1.51M | 89.5% | 0.81% | 0.91% | $13.69K | 55d |
| Worldchain | WETH | WBTC | 92% | $1.67M | $38.06K | 2.3% | 0.00% | 0.03% | $10.24 | 424d |
| Ethereum | frxUSD | stakedao-crvfrxUSD | 95% | $1.65M | $1.4M | 85.2% | 4.03% | 4.75% | $66.62K | 112d |
| Ethereum | USDC | srRoyUSDC | 92% | $1.64M | $1.45M | 88.1% | 7.46% | 8.51% | $123.17K | 118d |
| Base | USDC | wstETH | 86% | $1.63M | $1.43M | 87.6% | 3.86% | 4.42% | $62.96K | 681d |
| Base | USDC | cbADA | 63% | $1.58M | $1.37M | 86.7% | 5.08% | 5.87% | $80.53K | 146d |
| Base | EURC | wstETH | 86% | $1.58M | $1.39M | 88.0% | 0.89% | 1.01% | $14.1K | 639d |
| Ethereum | USDC | wsrUSD | 92% | $1.58M | $1.33M | 84.6% | 3.18% | 3.76% | $50.21K | 286d |
| Base | msETH | wstETH | 95% | $1.56M | $1.4M | 89.8% | 1.29% | 1.44% | $20.06K | 323d |
| Ethereum | USDC | PT-RLP-9APR2026 | 86% | $1.54M | $1.54M | 100.0% | N/A | N/A | N/A | 188d |
| Ethereum | DAI | sUSDe | 86% | $1.52M | $1.26M | 82.9% | 5.13% | 6.22% | $78.4K | 819d |
| Monad | AUSD | vUSD | 95% | $1.49M | $1.4M | 93.6% | 4.95% | 5.30% | $74.07K | 37d |
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.