Vaults
577 active vaults across 11 chains · $2.02B AUM · $4M curator fees annualized · $60.51M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-10
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 $1.64K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 788 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Unichain | usdc staging | unattributed | USDC | $11.1 | 6.34% | 0.0% | 0.0% | $0.7 | +0.9% | N/A |
| Base | VeloForge Vault USDC (Base) | unattributed | USDC | $11.16 | 5.38% | 0.0% | 0.0% | $0.6 | +0.6% | N/A |
| Ethereum | Grove x Steakhouse USDC High Yield | Steakhouse Financial | USDC | $11.26 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | Clearstar Boring USDC | Clearstar | USDC | $11.36 | 4.15% | 0.0% | 0.0% | $0.47 | +0.4% | N/A |
| Ethereum | Bachata USDC | unattributed | USDC | $11.41 | 9.80% | 0.0% | 0.0% | $1.12 | +4.7% | N/A |
| Base | V1 | unattributed | USDC | $12.43 | 3.73% | 10.0% | 10.0% | $0.52 | +0.4% | N/A |
| Ethereum | Hadjime EURC Prime | unattributed | EURC | $12.48 | 2.20% | 0.0% | 0.0% | $0.27 | +1.1% | N/A |
| Base | Muscadine USDC Vault | unattributed | USDC | $12.51 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | dForce WETH | unattributed | WETH | $12.66 | 1.48% | 5.0% | 5.0% | $0.2 | +33.2% | N/A |
| Ethereum | Hakutora WETH | unattributed | WETH | $12.71 | 1.38% | 15.0% | 15.0% | $0.21 | +33.2% | N/A |
| Base | PaperHands USDC Yield | unattributed | USDC | $13.05 | 1.82% | 0.0% | 0.0% | $0.24 | +0.2% | N/A |
| Base | test-455 | unattributed | USDC | $13.33 | 0.00% | 0.0% | 0.0% | $0 | +0.0% | N/A |
| Ethereum | AlphaPing USDC Core | AlphaPing | USDC | $13.48 | 4.07% | 10.0% | 10.0% | $0.61 | +0.4% | N/A |
| Arbitrum | Steakhouse Prime ETH | Steakhouse Financial | WETH | $13.61 | 0.00% | 0.0% | 0.0% | N/A | +33.2% | N/A |
| Arbitrum | Re7 USDC | RE7 Labs | USDC | $13.65 | 0.00% | 20.0% | 20.0% | N/A | +0.0% | 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 September 10, 2026 from /vaults.