Vaults
553 active vaults across 11 chains · $2.41B AUM · $6.12M curator fees annualized · $86.73M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-10
Top 10 vaults by AUM
Bars colored by chain · hover for net APY delivered + curator.
Vault performance landscape
Fee rate vs net APY delivered. Bubble size = AUM, color = asset class. Each dot is one vault; the top 5 by AUM are the largest bubbles.
Vault AUM distribution
Median vault AUM $4.42K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 768 matches
Click a header to sort, a row to copy its identifier (chain:address). Vaults with APY > 100% are dropped as non-economic.
| Chain· | Vault· | Curator· | Asset· | AUM↓ | Net APY· | Fee Rate· | Fee Take· | Borrow Int.· | AUM 30d Δ· | Util· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Gauntlet USDC Prime | Gauntlet | USDC | $442.34M | 4.00% | 0.0% | 0.0% | $17.7M | +25.7% | N/A |
| Base | Steakhouse Prime USDC | Steakhouse Financial | USDC | $333.94M | 3.80% | 5.0% | 5.0% | $13.37M | -28.8% | N/A |
| Ethereum | Sentora PYUSD | Sentora | PYUSD | $289.88M | 2.43% | 0.0% | 0.0% | $7.05M | +19.5% | N/A |
| Base | Steakhouse USDC | Steakhouse Financial | USDC | $286.64M | 2.99% | 25.0% | 25.0% | $11.47M | -1.6% | N/A |
| Ethereum | Steakhouse Ethena USDtb | Steakhouse Financial | USDtb | $110.33M | 2.31% | 5.0% | 5.0% | $2.68M | +26.8% | N/A |
| Ethereum | Steakhouse USDC | Steakhouse Financial | USDC | $102.28M | 3.36% | 5.0% | 5.0% | $3.62M | -22.0% | N/A |
| Ethereum | Steakhouse USDT | Steakhouse Financial | USDT | $93.69M | 3.18% | 5.0% | 5.0% | $3.14M | -25.1% | N/A |
| Ethereum | Vault Bridge WBTC | Gauntlet | WBTC | $47.21M | 0.00% | 5.0% | 5.0% | $24.08 | +25.0% | N/A |
| Ethereum | Adpend USDC | unattributed | USDC | $35.3M | N/A | 50.0% | 50.0% | N/A | +93.0% | N/A |
| HyperEVM | Felix USDC (Frontier) | Felix | USDC | $33.61M | 5.91% | 10.0% | 10.0% | $2.21M | +56.9% | N/A |
| Ethereum | Gauntlet USDC Prime | Gauntlet | USDC | $33.46M | 3.53% | 0.0% | 0.0% | $1.18M | -76.9% | N/A |
| HyperEVM | Felix HYPE | Felix | WHYPE | $29.25M | 8.67% | 10.0% | 10.0% | $2.83M | -41.8% | N/A |
| Base | Pangolins USDC | Pangolins | USDC | $27.91M | 4.00% | 0.0% | 0.0% | $1.12M | +5.1% | N/A |
| Ethereum | Smokehouse USDT | Steakhouse Financial | USDT | $25.43M | 4.52% | 10.0% | 10.0% | $1.28M | -7.9% | N/A |
| Katana | Steakhouse Prime USDC | Steakhouse Financial | vbUSDC | $24.41M | 7.16% | 10.0% | 10.0% | $1.24M | -37.9% | N/A |
Vaults are MetaMorpho's curated allocators. Depositors put capital into a vault, and the curator allocates across Morpho markets. AUM = total assets supplied to the vault. Net APY is after-fee yield delivered to depositors. Fee Rate is the curator's performance fee on yield. Fee Take Rate = curator fees ÷ borrow interest captured = the share of borrower-paid yield the curator retains (per-vault this reduces to the performance fee). Borrow interest captured = AUM × pre-fee APY.
Vaults reporting APY ≥ 100% are excluded from weighted aggregates as data artifacts (a saturated-utilization underlying market with a runaway IRM). The utilization column shows ". " until vault_allocations_daily backfills.
Datum Labs. (2026). Morpho Research Terminal: Vault directory. Retrieved June 10, 2026 from /vaults.