OptimizerPairsResponse
EVM chain ids, as decimal strings. See the ChainId schema.
Number of entries in items.
items object[]
The result set for this response.
EVM chain id, as a decimal string. See the ChainId schema.
Protocol identifier. See the LenderId schema.
fixedTerm objectnullable
Fixed-term descriptor for this pair's lender, joined by lender key. Absent on variable-rate lenders. For Term Finance (model: "term"), gate the borrow/loop CTA on fixedTerm.auction.canBorrow: origination only happens inside scheduled sealed-bid auction rounds and most repos sit between rounds, so a pair can carry a maturity, an LTV and a rate and still be impossible to borrow. Note also that aprBase/aprTotal on such a pair are computed against a variableBorrowRate of 0 and therefore read as an enormous leveraged yield with a free debt leg — show them as indicative, not obtainable, whenever canBorrow is false.
Underlying fixed-term protocol shape.
Possible values: [lista, midnight, term, exactly, teller, termmax]
termSingle fixed calendar maturity, unix seconds. Absent for rolling-duration menus (Lista) and multi-maturity markets (Exactly — the menu lives on terms[]).
fees object
Market-level fees: continuousFeeApr (%/yr lender-side haircut, Midnight), settlementFee (fraction at the current TTM, Midnight), latePenaltyApr (%/yr on overdue debt, Exactly), originationFeePercent (upfront % of principal, Teller). Empty for lenders without them.
Market-level fees: continuousFeeApr (%/yr lender-side haircut, Midnight), settlementFee (fraction at the current TTM, Midnight), latePenaltyApr (%/yr on overdue debt, Exactly), originationFeePercent (upfront % of principal, Teller). Empty for lenders without them.
earlyRepay object
Early-repayment policy: { kind: "none" | "penalty" | "discount" }. none = exit any time at market price; penalty = per-loan penalty (amount is position-level); discount = repaying early costs LESS than face value (Exactly).
Early-repayment policy: { kind: "none" | "penalty" | "discount" }. none = exit any time at market price; penalty = per-loan penalty (amount is position-level); discount = repaying early costs LESS than face value (Exactly).
provider object
Who fronts the term: { kind: "broker" | "orderbook" | "auction" | "pool", address? }. auction markets carry the auction window below and can only be borrowed inside a round.
Who fronts the term: { kind: "broker" | "orderbook" | "auction" | "pool", address? }. auction markets carry the auction window below and can only be borrowed inside a round.
auction object
Origination window for a fixed-term market whose terms are only obtainable during a bounded round rather than continuously — Term Finance (fixedTerm.provider.kind = "auction"). Served on fixedTerm.auction; ABSENT on lenders whose terms are continuously available, and absent is NOT the same as closed.
This is the difference between "the rate card is empty right now" and "this market cannot be borrowed at all": between rounds a Term repo still has a maturity, collateral params and a last-cleared rate, but nothing can be borrowed. Most repos are between rounds at any given time.
upcoming — a round is listed but not yet accepting submissions. open — accepting sealed bids/offers. revealing — bidding shut, sealed prices revealing and the round clearing. closed — no round is listed. Snapshot at fetch time; re-derive from the timestamps against the current clock when reading a cached response.
Possible values: [upcoming, open, revealing, closed]
openCan a NEW borrow be opened right now? Gate the borrow CTA on this, not on status and not on the presence of a rate — it stays correct if more statuses are added. True only inside an open round: Term borrow origination is a sealed bid, so there is no other entry point.
trueCan a NEW lend position be opened right now? Deliberately independent of canBorrow — the primary auction is only one of two lend surfaces, and buying repo tokens on the secondary market works between rounds. A closed round therefore leaves the market lend-only, not inert; greying out the whole market would be wrong.
trueSeconds until submissions close (revealTime − now). Absent unless a round is open. A snapshot — for a live countdown derive from revealTime, since responses are cached.
263000Ready-to-display consequences of this market's origination model, most important first (same convention as params.market.teller.implications). Auction mechanics are unusual enough that showing only a rate misleads.
Auction round id. Absent when status: "closed".
Submissions open, unix seconds. Absent when closed.
Submissions CLOSE and sealed prices begin revealing, unix seconds — the deadline to act. Absent when closed.
Round clears, unix seconds. Equal to revealTime on current deployments. Absent when closed.
Minimum bid (borrow) size for this round, loan-token BASE units. A real floor (e.g. "1000000000" = 1000 USDC) — a smaller amount cannot be submitted at all, so validate before building the action rather than surfacing a failed transaction.
1000000000Minimum offer (lend) size for this round, loan-token BASE units.
1000000000Market UID of the collateral side
Market UID of the debt side
Display name of the collateral market/vault (e.g. the Euler eVault name). Disambiguates rows that share the collateral/debt token symbols and lender.
Display name of the debt market/vault. For Euler this is the controller (debt) eVault — the primary way to tell otherwise-identical WETH→USDC rows apart.
Curator/brand of the collateral market (Euler: resolved from the vault governor). Null for lenders without a curator, or until the curator registry is seeded. Render as "curatorName + symbol", falling back to marketNameLong.
Curator/brand of the debt (controller) market. Same semantics as curatorNameLong.
Collateral token symbol
Collateral token name
Debt token symbol
Debt token name
Leverage-weighted net APR % EXCLUDING rewards — the SUSTAINABLE rate (reward incentives are typically transient).
Leverage-weighted net APR % INCLUDING rewards. The reward contribution is aprTotal − aprBase.
Highest leverage multiple reachable in this market.
Loan-to-value ratio, as a fraction between 0 and 1.
Effective deposit APR (depositRate + intrinsicYield)
Effective borrow APR % (borrowRate + intrinsicYield − rewards, plus any 1y-amortized origination fee — see originationFeeShort). For Liquity-family CDPs the amortized origination fee is the whole borrow cost (variable rate is 0).
One-time origination / mint fee on the debt side, PERCENT (Liquity-family CDPs: River, Felix, Nerite, Ebisu, Soneta, USDAf, Liquity). NOT an APR — it is already folded (1y-amortized) into borrowAprShort / aprTotal, and surfaced raw so consumers can re-amortize over a different holding horizon. Null/absent for markets without one.
Max borrowable amount given collateral (only when collateralAmount/collateralAmountUsd param provided)
USD value of maxDebtAmount
Min collateral needed for debt amount (only when debtAmount/debtAmountUsd param provided)
USD value of minCollateralAmount
Effective borrow APR % at the computed debt notional: the headline borrowAprShort with only its organic (IRM) component re-priced at the post-borrow utilization (intrinsic + rewards are size-invariant). Present when an amount is supplied; null for non-curve lenders and brokered debt markets.
Effective supply APR % at the collateral notional: the headline depositAprLong with only its organic (IRM) component re-priced at the post-deposit utilization. Present when an amount is supplied; null for non-curve lenders.
Leverage-weighted net position APR % on equity at the supplied amount, using the effective legs (INCLUDING rewards). Same components as aprTotal (directly comparable), but at the position's actual size/leverage. Null when equity is non-positive or a leg is unavailable.
Net APR % at the supplied amount EXCLUDING rewards — the sustainable at-size rate (netAprAtAmount with per-leg rewards stripped). The at-size reward contribution is netAprAtAmount − netAprAtAmountBase. Null when netAprAtAmount is.
borrowDepthShort objectnullable
Debt-market rate-vs-amount borrow grid. Only when depth=true.
Debt-market rate-vs-amount borrow grid. Only when depth=true.
supplyDepthLong objectnullable
Collateral-market rate-vs-amount supply grid. Only when depth=true.
Collateral-market rate-vs-amount supply grid. Only when depth=true.
risk object
Per-dimension risk for the pair. No composite headline score — take the worst (highest) breakdown entry if you need one.
Worse of the two sides' token risk scores.
breakdown object[]
One entry per dimension: config (market/e-mode configuration), chain, lender (protocol), tokenLong (collateral asset), tokenShort (debt asset), and curation — the last present ONLY for lenders that have curators (Morpho Blue, Euler). Scores are 1-5, higher = riskier; 0/null means unassessed and is labelled "unknown".
lenderNormalized risk score — lower is safer.
Possible values: [low, medium, high, unknown]
curation only: curator slugs of the pair's two markets, unioned. The pair's curation score is the WORSE of its two legs — an Euler position spanning a curated collateral vault and an uncurated controller is only as curated as the controller.
{
"chainIds": [
"string"
],
"collaterals": [
"string"
],
"debts": [
"string"
],
"collateralAmount": 0,
"collateralAmountUsd": 0,
"debtAmount": 0,
"debtAmountUsd": 0,
"start": 0,
"count": 0,
"items": [
{
"chainId": "string",
"lender": "string",
"fixedTerm": {
"model": "term",
"maturity": 0,
"fees": {},
"earlyRepay": {},
"provider": {},
"auction": {
"status": "open",
"canBorrow": true,
"canLend": true,
"secondsUntilClose": 263000,
"implications": [
"string"
],
"id": "string",
"startTime": 0,
"revealTime": 0,
"endTime": 0,
"minBorrowAmount": "1000000000",
"minLendAmount": "1000000000"
}
},
"marketLongUid": "string",
"marketShortUid": "string",
"marketNameLong": "string",
"marketNameShort": "string",
"curatorNameLong": "string",
"curatorNameShort": "string",
"assetLong": "string",
"assetShort": "string",
"assetGroupLong": "string",
"assetGroupShort": "string",
"symbolLong": "string",
"nameLong": "string",
"symbolShort": "string",
"nameShort": "string",
"aprBase": 0,
"aprTotal": 0,
"maxLeverage": 0,
"ltv": 0,
"depositAprLong": 0,
"borrowAprShort": 0,
"originationFeeShort": 0,
"totalDepositsUsdLong": 0,
"totalDepositsUsdShort": 0,
"totalDebtUsdLong": 0,
"totalDebtUsdShort": 0,
"totalLiquidityUsdLong": 0,
"totalLiquidityUsdShort": 0,
"borrowLiquidityShort": 0,
"utilizationLong": 0,
"utilizationShort": 0,
"maxDebtAmount": 0,
"maxDebtAmountUsd": 0,
"minCollateralAmount": 0,
"minCollateralAmountUsd": 0,
"borrowAprAtAmount": 0,
"depositAprAtAmount": 0,
"netAprAtAmount": 0,
"netAprAtAmountBase": 0,
"borrowDepthShort": {},
"supplyDepthLong": {},
"risk": {
"maxTokenScore": 0,
"breakdown": [
{
"category": "lender",
"score": 0,
"label": "low",
"curatorIds": [
"string"
]
}
]
}
}
]
}