---
title: "Borrow USDC on Aave Horizon (net borrow)"
description: "Earn rewards by borrowing USDC on Aave Horizon. This is a net borrowing opportunity: borrowing & lending the same asset will make you earn rewards based only on the difference of the two amounts"
canonical: "https://app.merkl.xyz/opportunities/844529183104418612"
chain: "Ethereum"
protocol: "Aave"
type: "MULTILOG_DUTCH"
page: 1
items: 25
totalPages: 1
updated: 2025-11-04T13:57:12.000Z
---

# Borrow USDC on Aave Horizon (net borrow)

## 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 by borrowing USDC on Aave Horizon. This is a net borrowing opportunity: borrowing & lending the same asset will make you earn rewards based only on the difference of the two amounts

## Key metrics

- **Total Value Locked**: $16,860,886.32
- **APR**: 0.00%
- **Native APR**: —
- **Daily rewards**: $0
- **Live campaigns**: 0
- **Chain**: Ethereum
- **Protocol**: Aave
- **Protocol trusted**: Yes — verified by DefiLlama (https://defillama.com/protocol/aave-v3)

## Tokens

- [USDC](https://app.merkl.xyz/tokens/USDC.md)
- [variableDebtHorRwaUSDC](https://app.merkl.xyz/tokens/variableDebtHorRwaUSDC.md)

## Campaigns — page 1 of 1 (3 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0x2f9315…](https://app.merkl.xyz/opportunities/844529183104418612/campaigns/0x2f93150656810802fd748808870acc5cc926f52e0ef43c8015169df6dbf591e3.md) | past | [aHorRwaUSDC](https://app.merkl.xyz/tokens/aHorRwaUSDC.md) | 0.00% | $0 | 2025-11-04 | 2025-11-18 |
| [0x785ae3…](https://app.merkl.xyz/opportunities/844529183104418612/campaigns/0x785ae30420d9dfaead97146815d24a7fd0024aeeff20c5ba31dff9879d36cd52.md) | past | [aHorRwaUSDC](https://app.merkl.xyz/tokens/aHorRwaUSDC.md) | 0.00% | $0 | 2025-10-21 | 2025-11-04 |
| [0xd2da54…](https://app.merkl.xyz/opportunities/844529183104418612/campaigns/0xd2da54b44f3f84a37bf5ee7ce1f0e6cdac1c1de326c77753f92d70a6a5c5acfb.md) | past | [aHorRwaUSDC](https://app.merkl.xyz/tokens/aHorRwaUSDC.md) | 0.00% | $0 | 2025-10-07 | 2025-10-21 |

## Participate

- [Deposit](https://app.aave.com/reserve-overview/?underlyingAsset=0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48&marketName=proto_horizon_v3)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/844529183104418612)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)