Markets
1,272 active markets across 12 chains · $3.43B active loans · $163.16M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-06-10
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: 1,777 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | USDC | cbXRP | 63% | $32.18M | $28.13M | 87.4% | 5.20% | 5.97% | $1.68M | 146d |
| Ethereum | WETH | weETH | 95% | $31.14M | $26.27M | 84.3% | 1.54% | 1.83% | $480.89K | 625d |
| HyperEVM | WHYPE | kHYPE | 86% | $29.93M | $28.49M | 95.2% | 6.00% | 6.31% | $1.8M | 331d |
| Ethereum | USDC | PT-reUSD-25JUN2026 | 92% | $28.58M | $25.84M | 90.4% | 7.48% | 8.31% | $2.15M | 183d |
| Monad | WETH | wstETH | 95% | $26.83M | $24.11M | 89.9% | 1.54% | 1.72% | $414.62K | 147d |
| Katana | vbUSDC | vbWBTC | 86% | $25.16M | $21.82M | 86.7% | 4.00% | 4.63% | $1.01M | 349d |
| Ethereum | USDC | wstUSR | 92% | $22.98M | $22.98M | 100.0% | N/A | N/A | N/A | 525d |
| Base | USDC | HERMES | 98% | $22.45M | $22.45M | 100.0% | N/A | N/A | N/A | 87d |
| Ethereum | AUSD | syrupUSDC | 92% | $21.35M | $19.54M | 91.5% | 5.17% | 5.66% | $1.11M | 139d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 100.0% | N/A | N/A | N/A | 87d |
| Base | USDC | HERMES | 98% | $19.96M | $19.96M | 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 10, 2026 from /markets.