How much lending money is already out on loan?

Every large tracked lender reports borrowing below four-fifths of our deposit estimate

This is a protocol-level estimate: reported value plus reported borrowing is treated as deposits. The amount not reported as borrowed is not guaranteed cash for withdrawals; different pools and assets are mixed together.

12 large systems with positive borrowing figures

Fluid Lending52% lent

Jupiter Lend48% lent

Kamino Lend42% lent

Aave V341% lent

Maple40% lent

Aave V437% lent

SparkLend34% lent

Morpho Blue34% lent

Estimated deposits$74.8BAcross the tracked systems

Money lent out$27.1B36.2% of estimated deposits

Money not lent out$47.7BA rough buffer, not guaranteed cash

Tight systems0 of 12At least 80% lent out

Largest borrowerAave V3$12.0B

Largest borrower share44.3%Of tracked money lent out

Typical depositor return2.76%Weighted by estimated deposits

Highest quoted returnMaple5.23%

Where is the unborrowed share smallest?

Money not reported as borrowed is the rough difference between estimated deposits and reported borrowing. Protocol totals can hide large differences between individual pools.

SystemEstimated depositsLent outNot reported borrowedShare lentDepositor return

Aave V3$29.3B$12.0B$17.3B41.0%Not available

Morpho Blue$16.9B$5.7B$11.2B33.8%Not available

SparkLend$7.8B$2.7B$5.1B34.5%1.31%

Maple$4.6B$1.8B$2.8B39.7%5.23%

JustLend V1$4.0B$210.8M$3.8B5.3%Not available

Kamino Lend$2.3B$953.2M$1.3B41.9%Not available

Jupiter Lend$2.2B$1.1B$1.1B48.2%Not available

Compound V3$2.1B$644.2M$1.4B31.0%Not available

Venus Core Pool$1.7B$380.6M$1.3B22.9%Not available

Fluid Lending$1.5B$755.2M$701.9M51.8%Not available

Lista Lending$1.4B$445.5M$983.4M31.2%Not available

Aave V4$1.1B$388.7M$666.9M36.8%Not available

High return does not cancel tight withdrawals.

Maple shows the highest available quoted return. Read it beside the share already lent out; the rate alone does not measure whether money can leave quickly.

5.23%quoted return39.7%already lent

What survives without the largest borrower?

Aave V3 explains 44.3% of tracked borrowing. Remove it and $15.1B remains. The risk is not one-protocol-only, but the leader materially changes the scale.