Markets
1,649 active markets across 14 chains · $5.06B active loans · $296.61M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-09
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: 2,139 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 | EURCV | WBTC | 86% | $5.04M | $4.55M | 90.3% | 1.82% | 2.02% | $91.95K | 344d |
| Ethereum | AUSD | sUSDai | 92% | $4.94M | $4.11M | 83.2% | 2.24% | 2.70% | $110.81K | 70d |
| HyperEVM | USD₮0 | AVLT | 92% | $4.7M | $4.7M | 100.0% | N/A | N/A | N/A | 133d |
| Ethereum | USDC | wJAAA | 98% | $4.38M | $3.85M | 87.8% | 3.26% | 3.72% | $143.38K | 147d |
| Ethereum | USDC | PT-sUSDE-26NOV2026 | 92% | $4.27M | $3.89M | 91.1% | 3.61% | 3.97% | $154.53K | 20d |
| Ethereum | USDS | cbBTC | 86% | $4.14M | $3.77M | 91.1% | 3.18% | 3.49% | $131.74K | 208d |
| Worldchain | USDC | WBTC | 86% | $3.94M | $3.57M | 90.7% | 0.42% | 0.47% | $16.7K | 515d |
| Base | EURC | cbBTC | 86% | $3.92M | $3.42M | 87.2% | 3.37% | 3.88% | $132.58K | 723d |
| Ethereum | USDC | PT-apyUSD-18JUN2026 | 86% | $3.91M | $3.47M | 88.9% | 10.34% | 11.71% | $406.82K | 169d |
| Ethereum | WETH | savETH | 92% | $3.88M | $3.52M | 90.6% | 3.89% | 4.30% | $151.34K | 236d |
| Ethereum | USDC | PT-USDG-24SEP2026 | 92% | $3.87M | $3.48M | 90.0% | 1.78% | 1.97% | $68.71K | 75d |
| Monad | cbBTC | mHyperBTC | 77% | $3.79M | $3.42M | 90.0% | 2.40% | 2.67% | $91.23K | 174d |
| Ethereum | AUSD | syrupUSDC | 92% | $3.64M | $2.98M | 82.0% | 3.54% | 4.34% | $129.3K | 229d |
| Worldchain | USDC | WETH | 86% | $3.63M | $3.29M | 90.5% | 2.58% | 2.86% | $93.92K | 515d |
| Monad | cbBTC | aHyperBTC | 77% | $3.39M | $1.69M | 49.9% | 0.16% | 0.32% | $5.39K | 144d |
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 9, 2026 from /markets.