Markets
1,275 active markets across 12 chains · $3.44B active loans · $165.93M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| HyperEVM | USDC | kHYPE | 63% | $16.78M | $15.03M | 89.6% | 5.66% | 6.34% | $952.59K | 271d |
| Katana | vbETH | weETH | 92% | $16.1M | $13.03M | 81.0% | 0.70% | 0.86% | $112.22K | 346d |
| Ethereum | USDC | stUSDS | 86% | $15.98M | $14.54M | 91.0% | 7.10% | 7.83% | $1.14M | 109d |
| Ethereum | USDC | PT-apyUSD-18JUN2026 | 86% | $15.95M | $13.36M | 83.8% | 10.50% | 12.65% | $1.69M | 79d |
| Ethereum | RLUSD | cbBTC | 86% | $15.84M | $14.35M | 90.6% | 2.86% | 3.16% | $453.81K | 98d |
| Ethereum | USDC | reUSD | 92% | $15.69M | $13.66M | 87.1% | 4.41% | 5.08% | $694.18K | 311d |
| Ethereum | USDT | stcUSD | 92% | $15.55M | $12.51M | 80.4% | 3.52% | 4.39% | $549.55K | 154d |
| Ethereum | USDT | USDT | 95% | $13.39M | $13.39M | 100.0% | N/A | N/A | N/A | 96d |
| Ethereum | AUSD | sUSDat | 86% | $13.24M | $12.25M | 92.6% | 18.34% | 19.95% | $2.44M | 62d |
| Ethereum | USDC | muBOND | 86% | $12.9M | $11.52M | 89.3% | 8.44% | 9.50% | $1.09M | 68d |
| Ethereum | USDC | mF-ONE | 92% | $12.48M | $11.21M | 89.8% | 5.46% | 6.10% | $683.47K | 356d |
| Monad | USDC | aHYPER | 77% | $11.29M | $10.21M | 90.4% | 7.17% | 7.96% | $813.27K | 138d |
| Stable | USDT0 | sthUSD | 86% | $11M | $9.92M | 90.2% | 3.26% | 3.63% | $359.68K | 30d |
| Ethereum | USDC | siUSD | 92% | $10.51M | $9.51M | 90.5% | 5.61% | 6.22% | $591.75K | 335d |
| Ethereum | USDC | PST | 86% | $10.2M | $9.29M | 91.1% | 3.50% | 3.85% | $357.58K | 12d |
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.