Every borrow marketMax LTV is the liquidation line, not a target. Cost is the annual interest on the loan. The stock itself usually earns nothing while posted as collateral.
Yes. As of 23 Oct 2026 we track 39 markets that accept a tokenized stock as collateral, across Kamino, Jupiter Lend, Morpho and Aave. The maximum loan-to-value we see is 86%, and the median cost of borrowing is 6.70% a year.
What is the cheapest way to borrow against a tokenized stock?+
The cheapest market we track is Morpho (SPY / USDG 62.5% LLTV), borrowing USDG against SPY (Robinhood) at 0.09% with a maximum LTV of 63%. A low rate usually reflects a small or quiet market, so check the depth before borrowing size.
Why borrow against a tokenized stock instead of selling it?+
Borrowing keeps your exposure to the share and avoids realising a taxable disposal, which is the usual reason people do it. The cost is a liquidation price: tokenized stocks trade around the clock while the underlying exchange does not, so the oracle has to quote a price over the weekend and the reopening gap can liquidate you before you can react.
