Markets
1,275 active markets across 12 chains · $3.44B 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| HyperEVM | USDC | kHYPE | 77% | $4.98M | $4.37M | 87.7% | 6.55% | 7.50% | $327.84K | 207d |
| Monad | AUSD | WBTC | 86% | $4.83M | $4.25M | 87.9% | 3.80% | 4.34% | $184.18K | 201d |
| Base | USDC | cbETH | 86% | $4.65M | $4.11M | 88.5% | 4.04% | 4.58% | $188.27K | 698d |
| Ethereum | WETH | savETH | 92% | $4.63M | $3.77M | 81.4% | 3.39% | 4.18% | $157.7K | 146d |
| Stable | USDT0 | sthUSD | 77% | $4.5M | $3.45M | 76.7% | 1.62% | 2.11% | $72.92K | 30d |
| Ethereum | USDC | v-wmtUSDC | 86% | $4.5M | $4.07M | 90.5% | 5.18% | 5.74% | $233.46K | 44d |
| Ethereum | USDC | AVLT | 86% | $4.45M | $4.34M | 97.5% | 9.50% | 9.75% | $423.09K | 5d |
| Ethereum | AUSD | upGAMMAusdc | 92% | $4.27M | $3.84M | 89.9% | 4.50% | 5.02% | $192.92K | 133d |
| Ethereum | PYUSD | WBTC | 86% | $4.27M | $3.87M | 90.7% | 2.90% | 3.20% | $123.95K | 72d |
| Monad | USDC | earnAUSD | 92% | $4.21M | $3.67M | 87.2% | 5.43% | 6.24% | $229.28K | 78d |
| OP Mainnet | USDC | WBTC | 86% | $4.03M | $3.21M | 79.7% | 2.36% | 2.97% | $95.41K | 246d |
| Base | USDC | HERMES | 98% | $4.02M | $4.02M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $4.02M | $4.02M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $4.02M | $4.02M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $4.02M | $4.02M | 100.0% | N/A | N/A | N/A | 87d |
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.