Markets
1,275 active markets across 12 chains · $3.42B active loans · $161.6M 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 | wstETH | N/A | 0% | $1.18M | $0 | 0.0% | 0.00% | 0.00% | N/A | 527d |
| Ethereum | msETH | rswETH | 95% | $1.15M | $952.95K | 83.2% | 4.08% | 4.93% | $46.94K | 618d |
| Ethereum | AUSD | RLP | 86% | $1.1M | $1.1M | 100.0% | N/A | N/A | N/A | 176d |
| Base | cbBTC | LBTC | 92% | $1.1M | $467.83K | 42.7% | 0.03% | 0.06% | $283.37 | 512d |
| Ethereum | USDC | PT-sUSDD-27AUG2026 | 92% | $1.08M | $957.54K | 89.0% | 3.74% | 4.21% | $40.29K | 9d |
| Ethereum | frxUSD | sDOLA | 92% | $1.08M | $997.39K | 92.8% | 10.35% | 11.20% | $111.71K | 55d |
| Katana | AUSD | vbWBTC | 86% | $1.06M | $1.06M | 100.0% | 26.75% | 26.75% | $282.93K | 350d |
| Ethereum | USDC | PT-USDat-27AUG2026 | 92% | $1.05M | $931.53K | 88.6% | 6.23% | 7.06% | $65.73K | 27d |
| Ethereum | USDC | USR | 92% | $1.03M | $1.03M | 100.0% | N/A | N/A | N/A | 526d |
| Worldchain | USDC | WLD | 77% | $1.01M | $909.52K | 90.1% | 15.97% | 17.87% | $162.53K | 426d |
| Ethereum | USDC | PT-srUSDat-27AUG2026 | 92% | $936.58K | $816.58K | 87.2% | 6.33% | 7.30% | $59.59K | 27d |
| HyperEVM | USD₮0 | UBTC | 77% | $925.94K | $869.85K | 93.9% | 15.74% | 16.84% | $146.46K | 398d |
| Base | USDC | cbADA | 77% | $918.94K | $794.82K | 86.5% | 5.04% | 5.85% | $46.47K | 244d |
| Base | XSGD | steakUSDC | 92% | $906.82K | $807.9K | 89.1% | 0.68% | 0.76% | $6.14K | 202d |
| Ethereum | USDC | tBTC | 77% | $858.51K | $775.85K | 90.4% | 4.47% | 4.96% | $38.5K | 743d |
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.