Markets
1,655 active markets across 14 chains · $5.07B active loans · $291.04M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-10
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: 2,145 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 | AUSD | vUSD | 95% | $6.38K | $1.62 | 0.0% | 0.00% | 0.51% | $0.01 | 127d |
| Ethereum | USDC | MVL | 77% | $6.25K | $0.01 | 0.0% | 0.00% | 0.03% | $0 | 464d |
| Base | USDC | wbCOIN | 86% | $6.23K | $2.94K | 47.2% | 0.03% | 0.06% | $1.89 | 496d |
| HyperEVM | USD₮0 | UETH | 86% | $6.15K | $4.44K | 72.3% | 8.54% | 12.01% | $533.25 | 489d |
| HyperEVM | USDHL | WHYPE | 63% | $6.14K | $6.14K | 100.0% | 16.38% | 16.38% | $1.01K | 457d |
| Robinhood Chain | USDG | AI | 39% | $6.01K | $0 | 0.0% | 0.00% | 0.82% | N/A | 2d |
| HyperEVM | USDHL | wstHYPE | 63% | $5.97K | $4.8K | 80.5% | 6.20% | 7.76% | $372.93 | 432d |
| Ethereum | USDf | N/A | 0% | $5.84K | $0 | 0.0% | 0.00% | 0.00% | N/A | 495d |
| Base | USDC | KTA | 77% | $5.79K | $3.91K | 67.5% | 4.36% | 6.53% | $255.04 | 384d |
| Base | jEUR | steakUSDC | 92% | $5.67K | $6.77 | 0.1% | 0.00% | 0.19% | $0.01 | 31d |
| Base | jEUR | gtusdcp | 92% | $5.66K | $0 | 0.0% | 0.00% | 0.22% | N/A | 29d |
| Base | jEUR | EUTBL | 95% | $5.65K | $0 | 0.0% | 0.00% | 0.19% | N/A | 30d |
| Base | USDC | sjEUR | 86% | $5.65K | $4.2K | 74.4% | 5.33% | 7.23% | $303.59 | 481d |
| Base | jEUR | USDC | 92% | $5.64K | $0 | 0.0% | 0.00% | 0.17% | N/A | 31d |
| Ethereum | apxUSD | PT-apyUSD-18JUN2026 | 86% | $5.53K | $5.53K | 100.0% | 3.77% | 3.77% | $208.51 | 170d |
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 10, 2026 from /markets.