Markets
1,655 active markets across 14 chains · $5.08B active loans · $283.38M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | WBTC | yb-WBTC | 86% | $161.22 | $88.33 | 54.8% | 0.26% | 0.48% | $0.42 | 43d |
| HyperEVM | USH | PURR | 39% | $157.01 | $0 | 0.0% | 0.00% | 0.03% | N/A | 407d |
| HyperEVM | USD₮0 | kHYPE | 77% | $152.11 | $78.4 | 51.5% | 12.79% | 26.31% | $20.62 | 425d |
| Base | USDC | PT-USR-24APR2025 | 92% | $151.53 | $2.06 | 1.4% | 0.00% | 0.03% | $0 | 566d |
| Katana | vbUSDT | BTC.b | 77% | $150.58 | $150.58 | 100.0% | 0.86% | 0.86% | $1.3 | 438d |
| Base | USDC | NVDA | 77% | $149.99 | $18.66 | 12.4% | 0.00% | 0.04% | $0.01 | 238d |
| Base | USDC | MSTR | 77% | $149.99 | $17.38 | 11.6% | 0.00% | 0.03% | $0.01 | 238d |
| Base | USDC | TSLA | 77% | $149.99 | $8.8 | 5.9% | 0.00% | 0.03% | $0 | 238d |
| Ethereum | WETH | hgETH | 92% | $149.96 | $125.28 | 83.5% | 5.47% | 6.58% | $8.24 | 316d |
| Ethereum | DAI | PT-sUSDE-27MAR2025 | 92% | $149.43 | $141.05 | 94.4% | N/A | N/A | N/A | 705d |
| Base | USR | N/A | 0% | $149.33 | $0 | 0.0% | 0.00% | 0.00% | N/A | 566d |
| Ethereum | DAI | USDe | 77% | $147.77 | $66.95 | 45.3% | 0.03% | 0.06% | $0.04 | 909d |
| Robinhood Chain | USDG | CASHCAT | 39% | $147.6 | $0 | 0.0% | 0.00% | 0.03% | $0 | 44d |
| HyperEVM | USH | WHLP | 86% | $147.49 | $0.19 | 0.1% | 0.00% | 0.03% | $0 | 407d |
| Base | USDC | uSOL | 77% | $147.36 | $105.84 | 71.8% | 22.93% | 33.32% | $35.26 | 710d |
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.