---
title: "Borrow USDC on SPX/USDC 62.5%"
description: "Earn rewards by borrowing USDC using SPX on Morpho on Ethereum"
canonical: "https://campaigns.morpho.org/opportunities/4373082318952317144"
chain: "Ethereum"
protocol: "Morpho"
type: "MORPHOBORROW"
page: 1
items: 25
totalPages: 1
updated: 2026-07-07T09:36:20.000Z
---

# Borrow USDC on SPX/USDC 62.5%

## Back to

- [Opportunities index (HTML)](https://campaigns.morpho.org/)
- [Ethereum chain (markdown)](https://campaigns.morpho.org/chains/ethereum.md)
- [Morpho protocol (markdown)](https://campaigns.morpho.org/protocols/morpho.md)

Earn rewards by borrowing USDC using SPX on Morpho on Ethereum

## Key metrics

- **Total Value Locked**: $12,795.3
- **APR**: 25.00%
- **Native APR**: —
- **Daily rewards**: $8.76
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Morpho
- **Protocol trusted**: Yes — verified by DefiLlama (https://defillama.com/protocol/morpho-blue)

## Tokens

- [USDC](https://campaigns.morpho.org/tokens/USDC.md)

## Campaigns — page 1 of 1 (2 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0xd239a6…](https://campaigns.morpho.org/opportunities/4373082318952317144/campaigns/0xd239a66bb4a3a6a37e6889af57c1e06c588f31371fab937f87b4516d7eed30ae.md) | live | [USDC](https://campaigns.morpho.org/tokens/USDC.md) | 25.00% | $8.76 | 2026-07-08 | 2026-09-06 |
| [0xc5f500…](https://campaigns.morpho.org/opportunities/4373082318952317144/campaigns/0xc5f500edb6f13d7e2294663f33a3a665a103542a4382f2e91466a109691ea07d.md) | past | [USDC](https://campaigns.morpho.org/tokens/USDC.md) | 0.00% | $0 | 2026-07-01 | 2026-07-08 |

## Participate

- [Deposit](https://app.morpho.org/ethereum/market/0x31a277fde40c1bd37dd00cb2167fe1d5831b450efecc63323679228a101e9979)

## Links

- [Open in Merkl App (HTML)](https://campaigns.morpho.org/opportunities/4373082318952317144)
- [Ethereum chain page](https://campaigns.morpho.org/chains/ethereum)
- [Morpho protocol page](https://campaigns.morpho.org/protocols/morpho)