Rails
USDT

USDT markets

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 · 26,369,566 · every market’s stored totals rebuilt from the logs of the Morpho Blue singleton · roster censused at

Markets
134
Supplied
366.45M USDT
Borrowed
332.97M USDT
Utilisation
91%
118 hold supply · 107 have borrowing84.30B 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
wstETH
86.0%115.78Mutil 89%3.94% borrow3.50% supplyfee 0%0xe7e9…87d2oracle
WBTC
86.0%89.86Mutil 92%6.24% borrow5.73% supplyfee 0%0xa921…df99oracle
sUSDS
96.5%57.22Mutil 90%3.24% borrow2.93% supplyfee 0%0x26b1…4d96oracle
PT-reUSD-10DEC2026
91.5%17.87Mutil 90%8.43% borrow7.60% supplyfee 0%0x6acd…14caoracle
USDT
98.0%17.11Mutil 100%604.56% borrow604.56% supplyfee 0%0xb74a…4e1coracle
PT-USD3-17DEC2026
91.5%12.80Mutil 93%5.27% borrow4.90% supplyfee 0%0x37a5…f53boracle
PT-USDat-14JAN2027
91.5%9.25Mutil 89%6.64% borrow5.91% supplyfee 0%0xd8dd…c489oracle
cbBTC
86.0%9.13Mutil 89%3.96% borrow3.53% supplyfee 0%0x4fe7…d0d3oracle
sUSDai
91.5%8.04Mutil 90%6.50% borrow5.87% supplyfee 0%0xe615…f5b0oracle
WBTC
86.0%5.61Mutil 90%4.03% borrow3.63% supplyfee 0%0x3c5a…f510oracle
sUSDS
96.5%4.31Mutil 92%6.03% borrow5.53% supplyfee 0%0x3274…cf0boracle
v-wmtUSDT
86.0%3.54Mutil 90%7.24% borrow6.51% supplyfee 0%0x9396…f2c3oracle
USDT
94.5%3.00Mutil 100%604.58% borrow604.58% supplyfee 0%0xa23d…466doracle
wstETH
86.0%2.93Mutil 89%3.95% borrow3.53% supplyfee 0%0x6a57…f5c8oracle
XAUt
77.0%2.79Mutil 99%18.64% borrow18.50% supplyfee 0%0xb784…0877oracle
PT-sUSDS-26NOV2026
91.5%1.55Mutil 91%6.32% borrow5.73% supplyfee 0%0x0367…ff1boracle
weETH
86.0%1.21Mutil 90%3.94% borrow3.53% supplyfee 0%0xa6a4…1292oracle
reUSD
91.5%1.15Mutil 88%5.24% borrow4.63% supplyfee 0%0x9105…9e35oracle
weETH
86.0%986.4Kutil 91%5.23% borrow4.76% supplyfee 0%0xc2c5…a8f6oracle
cbBTC
86.0%829.5Kutil 92%6.23% borrow5.73% supplyfee 0%0x4567…5bcaoracle
PST
86.0%682.8Kutil 88%3.61% borrow3.18% supplyfee 0%0x42f3…7739oracle

97 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 97 markets
collateralborrow ÷ supplylltvsuppliedutilisationborrow aprsupply aprfeemarket
WETH
86.0%316.2Kutil 91%5.03% borrow4.58% supplyfee 0%0x3758…cfd2oracle
stUSDS
86.0%265.8Kutil 87%1.84% borrow1.60% supplyfee 0%0x710f…7d8aoracle
syrupUSDT
91.5%86.9Kutil 85%3.80% borrow3.24% supplyfee 0%0xa477…818aoracle
sUSDe
91.5%72.5Kutil 90%4.03% borrow3.63% supplyfee 0%0xdc53…51bforacle
idle — no collateral
0.0%31.3Kutil 0%no IRMno IRMfee 0%0x5c6a…02d1no oracle
WETH
91.5%10.2Kutil 100%14.30% borrow14.30% supplyfee 0%0xdbff…c0c5oracle
PT-cUSD-23JUL2026
91.5%4.8Kutil 0%2.07% borrow0.01% supplyfee 0%0xfd03…554boracle
wstETH
86.0%1.3Kutil 0%0.12% borrow0.00% supplyfee 0%0x6a6c…62e8oracle
hsUSDf
91.5%1.0Kutil 0%0.50% borrow0.00% supplyfee 0%0xcaed…d46foracle
sUSDD
91.5%493.24util 75%1.85% borrow1.40% supplyfee 0%0x29ae…e476oracle
PENDLE-LPT-WRAPPED
91.5%478.47util 0%0.02% borrow0.00% supplyfee 0%0xfd2e…23c8oracle
PENDLE-LPT-WRAPPED
91.5%328.01util 3%0.03% borrow0.00% supplyfee 0%0x2545…cf74oracle
PT-cUSDO-19JUN2025
91.5%191.35util 98%675.07% borrow661.01% supplyfee 0%0xa46c…d402oracle
USDe
91.5%162.53util 10%0.03% borrow0.00% supplyfee 0%0xcec8…e86foracle
LBTC
86.0%70.43util 0%2.34% borrow0.00% supplyfee 0%0x9a22…56b9oracle
PT-sUSDE-31JUL2025
94.5%35.41util 89%173.00% borrow153.38% supplyfee 0%0x83e1…3048oracle
PT-reUSD-25JUN2026
91.5%33.1util 100%248.12% borrow248.12% supplyfee 0%0x3fea…8253oracle
WETH
86.0%20.13util 38%0.06% borrow0.02% supplyfee 0%0x6089…833aoracle
PT-syrupUSDC-28AUG2025
91.5%13.43util 70%122.77% borrow85.39% supplyfee 0%0x96a4…eaa8oracle
USR
91.5%12.14util 100%600.10% borrow600.10% supplyfee 0%0x0ec5…3cb0oracle
PT-wsrUSD-30OCT2025
91.5%11.07util 9%0.36% borrow0.03% supplyfee 0%0x5021…2c5boracle
PT-USDe-25SEP2025
91.5%10.35util 90%0.14% borrow0.13% supplyfee 0%0xb0a9…955boracle
ezUSD
91.5%10util 55%0.67% borrow0.37% supplyfee 0%0x44e1…c36coracle
wsrUSD
94.5%7.47util 75%157.12% borrow117.78% supplyfee 0%0xa9f7…700eoracle
syrupUSDC
91.5%6.28util 99%8.09% borrow8.01% supplyfee 0%0xdb19…bc28oracle
PT-USDG-24SEP2026
91.5%5.01util 100%131.16% borrow131.16% supplyfee 0%0x02bb…100doracle
PT-RUSD-31JUL2025
91.5%4.04util 0%12.52% borrow0.00% supplyfee 0%0x7110…ccbaoracle
PT-wsrUSD-31JUL2025
91.5%4.03util 0%12.54% borrow0.00% supplyfee 0%0x6623…eb01oracle
stcUSD
91.5%3.99util 0%12.52% borrow0.00% supplyfee 0%0x6b52…a070oracle
PT-cUSD-29JAN2026
91.5%3.92util 0%12.52% borrow0.00% supplyfee 0%0xe1fe…014aoracle
PT-stcUSD-29JAN2026
91.5%3.92util 0%12.52% borrow0.00% supplyfee 0%0x2269…6341oracle
PT-cUSD-29JAN2026
91.5%3.92util 0%12.52% borrow0.00% supplyfee 0%0x944f…b55coracle
sUSDD
94.5%3.84util 0%12.52% borrow0.00% supplyfee 0%0x3f4d…bebcoracle
sUSDS
94.5%3.78util 0%2.91% borrow0.01% supplyfee 0%0xb5b0…e8d5oracle
cbBTC
86.0%3.55util 0%12.52% borrow0.00% supplyfee 0%0x4045…481eoracle
PENDLE-LPT-WRAPPED
91.5%3.16util 38%86.65% borrow33.06% supplyfee 0%0xfc23…61f0oracle
PENDLE-LPT-WRAPPED
86.0%2.71util 98%675.26% borrow661.22% supplyfee 0%0xe09b…dd72oracle
stcUSD
91.5%2.41util 90%3.85% borrow3.46% supplyfee 0%0xdbf4…d4aaoracle
stUSD
96.5%2.14util 0%7.27% borrow0.00% supplyfee 0%0xa9b1…9025oracle
PT-syrupUSDC-28AUG2025
91.5%2.1util 0%36.01% borrow0.00% supplyfee 0%0x9df0…770foracle
bUSD0
86.0%1.92util 0%18.92% borrow0.00% supplyfee 0%0x9ba3…8cfboracle
PT-csUSDL-31JUL2025
91.5%1.85util 0%0.02% borrow0.00% supplyfee 0%0xf42b…7d43oracle
PT-sUSDE-27NOV2025
91.5%1.83util 56%0.17% borrow0.09% supplyfee 0%0x0f84…dfd2oracle
PT-RUSD-26FEB2026
91.5%1.63util 0%0.27% borrow0.00% supplyfee 0%0xdeca…d8d8oracle
PT-wsrUSD-26FEB2026
91.5%1.63util 77%1.08% borrow0.83% supplyfee 0%0xcf30…e4d0oracle
XAUE
77.0%1.59util 100%14.16% borrow14.16% supplyfee 0%0xd524…8c27oracle
wstUSR
91.5%1.4util 100%624.52% borrow623.89% supplyfee 0%0xac5e…2d3foracle
PT-stcUSD-23JUL2026
91.5%1.32util 79%0.25% borrow0.20% supplyfee 0%0x5eaa…cec1oracle
PT-srUSDe-2APR2026
91.5%1.3util 2%0.03% borrow0.00% supplyfee 0%0xb2f8…4691oracle
PT-sUSDE-25SEP2025
91.5%1.27util 80%0.23% borrow0.19% supplyfee 0%0x92fa…398boracle
PT-USDe-27NOV2025
91.5%1.26util 80%0.09% borrow0.07% supplyfee 0%0x89c3…2c1coracle
PT-syrupUSDC-30OCT2025
91.5%1.26util 89%1.20% borrow1.07% supplyfee 0%0xa315…34edoracle
sDAI
94.5%1.16util 82%0.09% borrow0.08% supplyfee 0%0x1ca7…f706oracle
thBILL
94.5%1.14util 90%2.42% borrow2.18% supplyfee 0%0xfb83…6e28oracle
PT-RUSD-30OCT2025
91.5%1.04util 48%4.32% borrow2.09% supplyfee 0%0x02a2…8785oracle
PT-cUSDO-20NOV2025
91.5%1.03util 0%0.24% borrow0.00% supplyfee 0%0x7fd6…9f32oracle
weETH
77.0%1.02util 91%3.78% borrow3.43% supplyfee 0%0x19cc…e1f3oracle
zkBTC
86.0%1.02util 0%0.02% borrow0.00% supplyfee 0%0x0fa8…ca58oracle
FLHYon
86.0%1.02util 90%3.80% borrow3.43% supplyfee 0%0x04f8…ee7boracle
wbIB01
96.5%1.02util 90%17.72% borrow15.98% supplyfee 0%0xae18…92b7oracle
TSLAon
62.5%1.02util 91%8.35% borrow7.60% supplyfee 0%0x0fa9…65e4oracle
PT-srUSDe-25JUN2026
91.5%1.01util 91%18.97% borrow17.27% supplyfee 0%0x1bd9…e41eoracle
PT-sUSDE-29MAY2025
94.5%1.01util 1%0.04% borrow0.00% supplyfee 0%0x4239…392doracle
PT-USDG-28MAY2026
94.5%1.01util 89%0.48% borrow0.43% supplyfee 0%0x1e6f…4b52oracle
wsrUSD
91.5%1.01util 91%13.37% borrow12.17% supplyfee 0%0x705b…de34oracle
sUSDat
86.0%1util 50%4.83% borrow2.43% supplyfee 0%0x9c71…901foracle
sUSN
86.0%1util 90%9.94% borrow8.95% supplyfee 0%0x0b5b…c355oracle
CANA
86.0%1util 100%226.20% borrow226.20% supplyfee 0%0x30fe…c5daoracle
PT-sUSDD-26NOV2026
91.5%1util 93%1.09% borrow1.01% supplyfee 0%0xad65…610aoracle
bUSD0
86.0%1util 70%0.08% borrow0.06% supplyfee 0%0x7559…9cd8oracle
csUSDL
96.5%1util 0%0.02% borrow0.00% supplyfee 0%0xf9e5…b6a9oracle
PT-SY wstUSR-25JUN2026
91.5%1util 100%599.47% borrow598.87% supplyfee 0%0xbd13…38f0oracle
wstUSR
91.5%1util 91%35.97% borrow32.70% supplyfee 0%0xaaf6…f63aoracle
WBTC
86.0%1util 91%23.46% borrow21.33% supplyfee 0%0xa4b7…8ae5oracle
cbBTC
86.0%1util 91%26.99% borrow24.54% supplyfee 0%0x18a2…9ac5oracle
WBTC
86.0%1util 91%26.97% borrow24.51% supplyfee 0%0xfb7c…0c36oracle
cbBTC
86.0%1util 91%26.96% borrow24.51% supplyfee 0%0x4760…2185oracle
weETH
77.0%1util 91%22.62% borrow20.56% supplyfee 0%0xeb9a…aa95oracle
weETH
77.0%1util 91%22.63% borrow20.57% supplyfee 0%0x1f9d…b6f3oracle
PT-SIERRA-6AUG2026
86.0%1util 90%3.96% borrow3.56% supplyfee 0%0x5eb1…2cf1oracle
TSLAon
62.5%1util 91%10.60% borrow9.64% supplyfee 0%0xfb91…462doracle
PT-siUSD-7JAN2027
91.5%1util 91%6.90% borrow6.27% supplyfee 0%0xaf90…7082oracle
PT-siUSD-22OCT2026
91.5%1util 91%6.63% borrow6.03% supplyfee 0%0x3552…e6d3oracle
PRIME
86.0%1util 91%5.20% borrow4.73% supplyfee 0%0xf171…6ba9oracle
PENDLE-LPT-WRAPPED
91.5%1util 90%4.35% borrow3.91% supplyfee 0%0x6f25…bd6coracle
sDAI
96.5%1util 90%3.99% borrow3.59% supplyfee 0%0xf213…87adoracle
spUSDT
96.5%1util 90%4.00% borrow3.60% supplyfee 0%0xe675…30c4oracle
cbBTC
86.0%0.9576util 0%0.03% borrow0.00% supplyfee 0%0x2b80…ef4boracle
PT-tUSDe-18DEC2025
91.5%0.8072util 0%0.02% borrow0.00% supplyfee 0%0xa7de…301aoracle
PT-sUSDD-27AUG2026
91.5%0.1139util 90%4.56% borrow4.11% supplyfee 0%0xdf6c…22e0oracle
stUSD
94.5%0.1087util 0%0.02% borrow0.00% supplyfee 0%0xa44f…bf3aoracle
wUSDM
96.5%0.1022util 89%1.97% borrow1.76% supplyfee 0%0x231b…155doracle
USDC
77.0%0.1util 0%0.26% borrow0.00% supplyfee 0%0x4f19…0e8eoracle
PENDLE-LPT-WRAPPED
91.5%0.0445util 100%800.00% borrow800.00% supplyfee 0%0x134c…ab6foracle
SyStUSD
94.5%0.0055util 0%0.37% borrow0.00% supplyfee 0%0x05c3…5cb9oracle
reUSD
96.5%0.001util 0%0.27% borrow0.00% supplyfee 0%0x007f…5b61oracle
PT-csUSDL-30OCT2025
91.5%0.000005util 20%20.86% borrow4.17% supplyfee 0%0x2183…2f86oracle

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 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%