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 | AUSD | AA_FalconXUSDC | 77% | $129.76 | $103.16 | 79.5% | 3.57% | 4.51% | $4.65 | 267d |
| Ethereum | WETH | osETH | 86% | $129.22 | $53.54 | 41.4% | 13.16% | 35.58% | $19.05 | 954d |
| HyperEVM | WHYPE | kHYPE | 92% | $126.81 | $6.93 | 5.5% | 0.00% | 0.05% | $0 | 413d |
| Unichain | WETH | rsETH | 95% | $126.65 | $126.65 | 100.0% | N/A | N/A | N/A | 463d |
| Ethereum | WETH | n-st-weETH | 95% | $126.03 | $8.63 | 6.8% | 0.00% | 0.03% | $0 | 404d |
| Robinhood Chain | USDG | CRWV | 63% | $124.99 | $0 | 0.0% | 0.00% | 0.08% | N/A | 19d |
| Robinhood Chain | USDG | NBIS | 63% | $124.99 | $0 | 0.0% | 0.00% | 0.06% | N/A | 21d |
| Ethereum | USDC | LINK | 77% | $124.51 | $1.64 | 1.3% | 0.00% | 0.03% | $0 | 862d |
| Base | USDC | CLAWNCH | 39% | $124.49 | $0 | 0.0% | 0.00% | 0.03% | N/A | 222d |
| Ethereum | USDC | PT-USDe-25SEP2025 | 92% | $123.48 | $18.05 | 14.6% | 0.01% | 0.04% | $0.01 | 412d |
| Ethereum | wstETH | ezETH | 95% | $123.14 | $107.98 | 87.7% | 0.09% | 0.10% | $0.11 | 615d |
| HyperEVM | USD₮0 | beHYPE | 63% | $119.36 | $6.37 | 5.3% | 0.06% | 1.21% | $0.08 | 368d |
| Polygon | USDC | 77% | $118.21 | $0 | 0.0% | 0.00% | 0.54% | N/A | 265d | |
| Ethereum | DAI | PT-USDS-14AUG2025 | 97% | $117.88 | $5.03 | 4.3% | 0.04% | 0.93% | $0.05 | 476d |
| Polygon | USDT0 | compWETH | 86% | $117.87 | $108.28 | 91.9% | 5.34% | 5.83% | $6.31 | 507d |
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.