Markets
1,655 active markets across 14 chains · $5.07B active loans · $281.52M borrow interest annualized
Markets as lending products · Source: Morpho GraphQL · market_state_daily · as of 2026-09-10
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: 2,145 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 | vANELOUV | 63% | $656.42 | $0 | 0.0% | 0.00% | 0.20% | N/A | 85d |
| Monad | mUSD | syrupUSDC | 92% | $645.61 | $0.91 | 0.1% | 0.00% | 0.18% | $0 | 75d |
| Ethereum | USDC | XPC | 98% | $613.9 | $453.94 | 73.9% | 0.06% | 0.09% | $0.39 | 882d |
| Base | EURA | WETH | 86% | $582.33 | $421.46 | 72.4% | 63.96% | N/A | N/A | 811d |
| Ethereum | USDC | PT-sUSDE-27MAR2025 | 92% | $582.28 | $546.86 | 93.9% | N/A | N/A | N/A | 680d |
| Ethereum | USDC | PT-USD0++-27MAR2025 | 92% | $572.57 | $401.97 | 70.2% | 0.11% | 0.16% | $0.63 | 685d |
| Ethereum | USDC | PT-iUSD-4DEC2025 | 92% | $563.62 | $520.41 | 92.3% | 26.90% | 29.44% | $153.22 | 377d |
| Ethereum | USDC | mBASIS | 92% | $551.89 | $1.57 | 0.3% | 0.00% | 0.03% | $0 | 587d |
| Ethereum | USDC | mMEV | 92% | $543.54 | $175.02 | 32.2% | 0.02% | 0.05% | $0.09 | 545d |
| Monad | USDC | WETH | 86% | $536.43 | $291.65 | 54.4% | 0.61% | 1.13% | $3.29 | 131d |
| Katana | dUSD | weETH | 77% | $533.93 | $501.6 | 93.9% | N/A | N/A | N/A | 317d |
| Robinhood Chain | USDG | Index | 39% | $528.21 | $528.21 | 100.0% | 3.05% | 3.05% | $16.13 | 27d |
| Ethereum | USDCV | wstETH | 86% | $528.1 | $427.8 | 81.0% | 25.16% | 32.14% | $137.51 | 341d |
| Ethereum | msUSD | PRIME | 86% | $521.67 | $285.9 | 54.8% | 0.85% | 1.55% | $4.44 | 72d |
| Polygon | USDC | 77% | $514.14 | $0 | 0.0% | 0.00% | 0.03% | N/A | 276d |
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 10, 2026 from /markets.