Markets
1,660 active markets across 14 chains · $5.07B active loans · $284.41M 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: 2,150 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Robinhood Chain | USDG | MRNA | 39% | $100 | $0 | 0.0% | 0.00% | 0.25% | N/A | 11d |
| Robinhood Chain | USDG | IONQ | 63% | $100 | $0 | 0.0% | 0.00% | 0.03% | N/A | 27d |
| Robinhood Chain | USDG | LLY | 39% | $100 | $0 | 0.0% | 0.00% | 0.80% | N/A | 3d |
| Robinhood Chain | USDG | HIMS | 39% | $100 | $0 | 0.0% | 0.00% | 0.46% | N/A | 7d |
| Robinhood Chain | USDG | AMC | 39% | $100 | $0 | 0.0% | 0.00% | 0.60% | N/A | 5d |
| Robinhood Chain | USDG | NVDA | 39% | $100 | $0 | 0.0% | 0.00% | 0.54% | N/A | 11d |
| Robinhood Chain | USDG | TTWO | 39% | $100 | $0 | 0.0% | 0.00% | 0.46% | N/A | 7d |
| Ethereum | VUSD | hemiBTC | 95% | $99.97 | $9.12 | 9.1% | 0.00% | 0.05% | $0 | 218d |
| Robinhood Chain | WETH | MDLP | 86% | $99.37 | $0 | 0.0% | 0.00% | 0.12% | N/A | 18d |
| Robinhood Chain | WETH | MDLP | 39% | $99.37 | $0 | 0.0% | 0.00% | 0.26% | N/A | 17d |
| Base | WETH | cbETH | 95% | $99.33 | $0.03 | 0.0% | 0.00% | 0.03% | $0 | 780d |
| Monad | cbBTC | triBTC | 86% | $98.24 | $88.91 | 90.5% | 0.37% | 0.41% | $0.37 | 178d |
| Base | USDC | NVDAc | 77% | $97.98 | $1 | 1.0% | 0.01% | 0.75% | $0.01 | 2d |
| Ethereum | USDS | PT-staking-USDS-25SEP2025 | 97% | $95.74 | $1.29 | 1.4% | 0.01% | 0.64% | $0.01 | 421d |
| Ethereum | AUSD | sUSDe | 95% | $93.15 | $26.35 | 28.3% | 0.70% | 2.51% | $0.66 | 716d |
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.