USDT
Every market here lends USDT and measures in it — every figure on this page is a quantity of USDT, never dollars. A market’s loan-to-value is its whole risk surface: the borrow limit and the liquidation line at once, fixed when the market was created. Sizes are the balance each market last settled, left as the contract stores them; the rates are live.
Chain snapshot · block 25,884,919 · every market’s state read from the Morpho Blue singleton · roster censused at block 25,540,377
118 markets · 102 hold supply · 91 have borrowing352.92M supplied · 299.81M borrowed, in USDT · 85% utilisation88.31B USDT exists
The markets that carry the book
Biggest book first. The bar is borrow ÷ supply, the one aggregate ratio Blue keeps; the lltv beside it is the market’s whole risk surface. Sizes are the balance each market last settled, never projected forward; the rates are live.
collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
wstETH86.0%120.68Mutil 83%2.97% borrow2.47% supplyfee 0%0xe7e9…87d2oracle WBTC86.0%80.35Mutil 83%2.99% borrow2.47% supplyfee 0%0xa921…df99oracle sUSDS96.5%62.38Mutil 90%2.75% borrow2.49% supplyfee 0%0x26b1…4d96oracle cbBTC86.0%24.45Mutil 82%2.98% borrow2.45% supplyfee 0%0x4fe7…d0d3oracle sUSDS96.5%22.00Mutil 84%2.94% borrow2.47% supplyfee 0%0x3274…cf0boracle USDT98.0%17.11Mutil 100%604.56% borrow604.56% supplyfee 0%0xb74a…4e1coracle PT-reUSD-10DEC202691.5%8.51Mutil 73%6.25% borrow4.57% supplyfee 0%0x6acd…14caoracle reUSD91.5%3.29Mutil 89%4.98% borrow4.45% supplyfee 0%0x9105…9e35oracle WBTC86.0%3.06Mutil 82%3.01% borrow2.47% supplyfee 0%0x3c5a…f510oracle USDT94.5%3.00Mutil 100%604.58% borrow604.58% supplyfee 0%0xa23d…466doracle XAUt77.0%2.89Mutil 84%4.08% borrow3.44% supplyfee 0%0xb784…0877oracle weETH86.0%1.68Mutil 82%3.01% borrow2.48% supplyfee 0%0xc2c5…a8f6oracle cbBTC86.0%969.8kutil 73%2.69% borrow1.97% supplyfee 0%0x4567…5bcaoracle wstETH86.0%909.5kutil 82%3.00% borrow2.47% supplyfee 0%0x6a57…f5c8oracle stUSDS86.0%497.3kutil 93%8.84% borrow8.19% supplyfee 0%0x710f…7d8aoracle idle — no collateral0.0%367.4kutil 0%no IRMno IRMfee 0%0x5c6a…02d1no oracle WETH86.0%358.4kutil 81%3.04% borrow2.45% supplyfee 0%0x3758…cfd2oracle 85 more funded markets, each below 0.1% of the book
Funded, and real, and each holding less than a thousandth of what the markets above hold between them. Every figure on their rows carries the same receipt as the rows above.
Show 85 marketsHide them
collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
Created, never funded
16 USDT markets hold no supply at this block. Creating a market on Blue is permissionless and costs only gas, so most of them were simply never used — they carry the parameters they were born with and nothing else. They are listed because the roster is the protocol’s, not ours; markets born with the same collateral and the same loan-to-value are one line with a count.
Show 16 empty marketsHide empty markets
PKZZZ / USDT · 91.5% ×2cbBTC / USDT · 86.0% ×2ysUSDS / USDT · 96.5%USDT / USDT · 96.5%sUSDS / USDT · 94.5%ysUSDS / USDT · 94.5%SyStUSD / USDT · 94.5%PT-AIDaUSDT-14AUG2025 / USDT · 91.5%PENDLE-LPT-WRAPPED / USDT · 91.5%stcUSD / USDT · 91.5%PT-stcUSD-29JAN2026 / USDT · 91.5%MUSD / USDT · 91.5%tBTC / USDT · 86.0%BCPGOLD / USDT · 38.5%