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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Worldchain | WLD | N/A | 0% | $10.09M | $0 | 0.0% | 0.00% | 0.00% | N/A | 425d |
| Ethereum | USDC | stcUSD | 92% | $9.62M | $8.7M | 90.4% | 5.48% | 6.08% | $528.61K | 287d |
| Ethereum | EURCV | cbBTC | 86% | $9.47M | $8.24M | 87.0% | 0.76% | 0.88% | $72.48K | 365d |
| Base | WETH | wstETH | 95% | $9.39M | $8.05M | 85.7% | 1.56% | 1.82% | $146.77K | 729d |
| Ethereum | USDC | PRIME | 86% | $9.28M | $8.48M | 91.4% | 3.64% | 3.99% | $338.73K | 26d |
| Ethereum | USDC | PT-apxUSD-18JUN2026 | 86% | $8.77M | $7.31M | 83.3% | 10.23% | 12.41% | $906.56K | 79d |
| Ethereum | USDC | dCOMP | 63% | $8.76M | $7.86M | 89.8% | 9.02% | 10.10% | $794.01K | 105d |
| Arbitrum | USDC | GVLT | 63% | $8.44M | $8.44M | 100.0% | N/A | N/A | N/A | 64d |
| Ethereum | USDT | PT-reUSD-25JUN2026 | 92% | $8.11M | $6.86M | 84.6% | 5.45% | 6.47% | $444.25K | 64d |
| Ethereum | USDT | cbBTC | 86% | $8.08M | $7.32M | 90.6% | 4.60% | 5.09% | $372.72K | 54d |
| Ethereum | USDC | OETH | 86% | $7.93M | $6.82M | 86.0% | 4.17% | 4.86% | $331.66K | 261d |
| HyperEVM | USD₮0 | AVLT | 92% | $7.77M | $6.71M | 86.4% | 8.57% | 9.98% | $670K | 43d |
| Ethereum | USDT | cbBTC | 86% | $7.61M | $5.71M | 75.0% | 2.21% | 2.96% | $169.11K | 228d |
| Ethereum | PYUSD | N/A | 0% | $7.47M | $0 | 0.0% | 0.00% | 0.00% | N/A | 857d |
| Ethereum | USDC | wJAAA | 98% | $7.42M | $6.69M | 90.2% | 3.34% | 3.70% | $247.82K | 57d |
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.