---
title: "Borrow USDC on Aave V4"
description: "Earn rewards for net borrowing USDC on Aave V4 on Ethereum, net of USDC, USDT, GHO, RLUSD, USDG, frxUSD supplies"
canonical: "https://app.merkl.xyz/opportunities/13158230964923482281"
chain: "Ethereum"
protocol: "Aave"
type: "AAVE_V4_HUB_NET_BORROWING"
page: 1
items: 25
totalPages: 1
lastCampaignCreatedAt: 2026-10-01T12:05:09.000Z
generated: "2026-10-03T00:59:49.851Z"
---

# Borrow USDC on Aave V4

## Back to

- [Opportunities index (HTML)](https://app.merkl.xyz/)
- [Ethereum chain (markdown)](https://app.merkl.xyz/chains/ethereum.md)
- [Aave protocol (markdown)](https://app.merkl.xyz/protocols/aave.md)

Earn rewards for net borrowing USDC on Aave V4 on Ethereum, net of USDC, USDT, GHO, RLUSD, USDG, frxUSD supplies

## Key metrics

- **Total Value Locked**: $27,771,291.84
- **APR**: 2.00%
- **Protocol APR**: —
- **Daily rewards**: $1,521.71
- **Live campaigns**: 1
- **Chain**: Ethereum
- **Protocol**: Aave
- **Protocol trusted**: Yes, verified by DefiLlama (https://defillama.com/protocol/aave-v3)

## Tokens

- [USDG](https://app.merkl.xyz/tokens/USDG.md)
- [GHO](https://app.merkl.xyz/tokens/GHO.md)
- [frxUSD](https://app.merkl.xyz/tokens/frxUSD.md)
- [USDC](https://app.merkl.xyz/tokens/USDC.md)
- [RLUSD](https://app.merkl.xyz/tokens/RLUSD.md)
- [USDT](https://app.merkl.xyz/tokens/USDT.md)

## Campaigns : page 1 of 1 (1 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0xe4397c…](https://app.merkl.xyz/opportunities/13158230964923482281/campaigns/0xe4397c1bb034e72ad1e0e273364b88efe51aea23259426ca5cb3a38d41d48b2a.md) | live | [USDC](https://app.merkl.xyz/tokens/USDC.md) | 2.00% | $1,521.71 | 2026-10-01 | 2026-10-08 |

## Participate

- [Deposit](https://pro.aave.com/explore/asset/1/0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/13158230964923482281)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)