---
title: "Borrow USDC on Aave"
description: "Earn rewards on your net borrowing position (USDC borrow minus USDC, RLUSD supplies) on Aave on Ethereum"
canonical: "https://app.merkl.xyz/opportunities/983324139769455536"
chain: "Ethereum"
protocol: "Aave"
type: "AAVE_NET_BORROWING"
page: 1
items: 25
totalPages: 1
updated: 2026-07-02T19:09:20.000Z
---

# Borrow USDC on Aave

## 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 on your net borrowing position (USDC borrow minus USDC, RLUSD supplies) on Aave on Ethereum

## Key metrics

- **Total Value Locked**: $3,905,779.05
- **APR**: 1.75%
- **Native APR**: —
- **Daily rewards**: $187.26
- **Live campaigns**: 1
- **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 (1 total)

| Campaign | Status | Reward | APR | Daily $ | Start | End |
| --- | --- | --- | --- | --- | --- | --- |
| [0x075800…](https://app.merkl.xyz/opportunities/983324139769455536/campaigns/0x075800d170a2a3a885cfbdece23ceedbbb5e6aa8510a017a96188570e61d54fb.md) | live | [aHorRwaUSDC](https://app.merkl.xyz/tokens/aHorRwaUSDC.md) | 1.75% | $187.26 | 2026-07-02 | 2026-07-16 |

## Participate

- [Deposit](https://app.aave.com/reserve-overview/?underlyingAsset=0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48&marketName=proto_mainnet_v3)

## Links

- [Open in Merkl App (HTML)](https://app.merkl.xyz/opportunities/983324139769455536)
- [Ethereum chain page](https://app.merkl.xyz/chains/ethereum)
- [Aave protocol page](https://app.merkl.xyz/protocols/aave)