Morpho Blue · Liquidation Early-Warning · Live Snapshot v0

$170.55M of directional debt is inside the 10% warning buffer across 1,176 positions

Snapshot Jun 10, 2026 18:33 UTC · 245 markets on Ethereum + Base · base block 47,163,539 · ethereum block 25,288,863 · health read on-chain from each market's own oracle · warning rule: health < 1.10 · plus $562.92M in healthy correlated pairs and $10.61M in depegged/anomalous markets (both shown separately below)

Directional markets — top 10 by debt at risk

MarketActiveVerified on-chain At riskDebt at risk
cbBTC/USDC base 29,805 17,332 699 $50.68M
PRIME/PYUSD ethereum 48 42 29 $43.27M
muBOND/USDC ethereum 2 2 2 $11.52M
wstUSR/USDC ethereum 33 21 21 $10.02M
PRIME/USDC ethereum 2 1 1 $8.48M
wstETH/USDT ethereum 184 114 1 $6.49M
RLP/USDC ethereum 96 59 59 $6.45M
WBTC/USDT ethereum 311 200 9 $6.22M
msY/USDC ethereum 21 20 4 $4.64M
PST/USDC ethereum 8 7 3 $4.32M
+ 129 more directional markets 19,738 8,070 348 $18.47M

Most critical positions — directional markets

HealthTo thresholdDebt MarketChainBorrower
0.0000 +-100.0% $700,100 RLP/USDC ethereum 0x14bC…4550
0.0434 +-95.7% $515,212 RLP/USDC ethereum 0xBb13…95A0
0.2943 +-70.6% $634,082 RLP/USDC ethereum 0xE08D…D015
0.2943 +-70.6% $79,942 RLP/USDC ethereum 0x50f0…8eDd
0.2943 +-70.6% $1,781 RLP/USDC ethereum 0xf1D2…7B50
0.2944 +-70.6% $179,219 RLP/USDC ethereum 0xDC5F…8F98
0.2944 +-70.6% $29,737 RLP/USDC ethereum 0x1a3E…C70c
0.2945 +-70.5% $19,576 RLP/USDC ethereum 0x108C…6B0d
0.2947 +-70.5% $522,045 RLP/USDC ethereum 0x339c…4338
0.2947 +-70.5% $29,737 RLP/USDC ethereum 0x7236…D4a1
0.2950 +-70.5% $143,407 RLP/USDC ethereum 0x0000…0CAc
0.2951 +-70.5% $276,966 RLP/USDC ethereum 0x80BF…D4e4
0.2953 +-70.5% $119,866 RLP/USDC ethereum 0x2D48…1088
0.2954 +-70.5% $1,780 RLP/USDC ethereum 0x8050…92fB
0.2960 +-70.4% $37,390 RLP/USDC ethereum 0x0AC3…Aaf2

Health distribution of at-risk positions (directional)

1.00–1.03
15 positions · $6.99M
1.03–1.06
188 positions · $42.15M
1.06–1.10
885 positions · $102.91M

Correlated pairs (peg-checked) — intentional high leverage, low liquidation risk

Collateral and debt move together (stable/stable, LST/underlying) and every stable side trades at or above ~97% of its native peg (yield-bearing wrappers above par are normal). Positions are commonly run near the threshold by design. $562.92M across 749 positions sits inside the buffer — shown for transparency, excluded from the headline.

MarketVerifiedIn buffer Debt in buffer
sUSDe/USDtb ethereum 72 59 $99.18M
syrupUSDC/PYUSD ethereum 14 11 $57.21M
wstETH/WETH ethereum 48 38 $53.01M
sUSDS/USDT ethereum 33 19 $47.17M
syrupUSDC/RLUSD ethereum 27 22 $34.93M
+ 81 more correlated markets 889 600 $271.42M

Anomalous / depegged — a "stable" side is off its peg

These pairs would be classified as correlated, but a stable side trades below ~97% of its native peg (or has no price) — they are NOT safe-leverage markets right now, and their USD figures are valued at the depegged price (treat with caution). $10.61M across 196 positions in the buffer.

MarketDepegged assetVerified In bufferDebt in buffer
USR/USDC base USR $0.124 33 33 $2.38M
PT-apyUSD-18JUN2026/USDC ethereum PT-apyUSD-18JUN2026 $0.911 169 34 $2.00M
PT-apyUSD-18JUN2026/apxUSD ethereum PT-apyUSD-18JUN2026 $0.911, apxUSD $0.957 44 18 $1.47M
PT-apxUSD-18JUN2026/USDC base PT-apxUSD-18JUN2026 (no price) 41 26 $1.17M
PT-apxUSD-18JUN2026/USDC ethereum PT-apxUSD-18JUN2026 $0.954 41 5 $936,434
apyUSD/apxUSD ethereum apxUSD $0.957 18 13 $671,976
sUSDat/AUSD ethereum sUSDat $0.967 39 6 $581,303
USR/USDC ethereum USR $0.124 38 38 $567,037
ROY-ST-apyUSD/USDC ethereum ROY-ST-apyUSD (no price) 3 3 $245,485
ROY-ST-apyUSD/apxUSD ethereum ROY-ST-apyUSD (no price), apxUSD $0.957 4 4 $239,482
PT-apxUSD-5NOV2026/USDC ethereum PT-apxUSD-5NOV2026 $0.901 5 1 $220,771
deUSD/USDC ethereum deUSD (no price) 9 9 $70,539
PT-apxUSD-18JUN2026/apxUSD ethereum PT-apxUSD-18JUN2026 $0.954, apxUSD $0.957 8 3 $41,264
PT-apyUSD-5NOV2026/USDC ethereum PT-apyUSD-5NOV2026 $0.861 4 1 $14,498
PT-slvlUSD-25SEP2025/lvlUSD ethereum PT-slvlUSD-25SEP2025 (no price) 2 2 $5,267
BONDUSD/USR ethereum BONDUSD (no price), USR $0.124 1 0 $0
USDT/USDT ethereum USDT (no price) 1 0 $0
USDT/USDT ethereum USDT (no price) 1 0 $0
mM1-USD/USDC ethereum mM1-USD (no price) 1 0 $0
bdUSD/USDC ethereum bdUSD (no price) 2 0 $0