Vaults
577 active vaults across 11 chains · $2.03B AUM · $4.04M curator fees annualized · $61.07M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Bandit USDC | unattributed | USDC | $62.01 | N/A | 5.0% | 5.0% | N/A | +78.3% | N/A |
| Ethereum | Smokehouse cbBTC | Steakhouse Financial | cbBTC | $62.23 | 0.00% | 10.0% | 10.0% | N/A | +22.5% | N/A |
| Katana | Steakhouse High Yield AUSD | Steakhouse Financial | AUSD | $63.22 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | Degen USDC | RE7 Labs | USDC | $63.25 | 0.00% | 10.0% | 10.0% | N/A | -0.1% | N/A |
| Ethereum | August USDC | August Digital | USDC | $64.78 | 0.15% | 0.0% | 0.0% | $0.09 | -97.5% | N/A |
| Ethereum | Sentora RLUSD | Sentora | RLUSD | $68.02 | 0.00% | 0.0% | 0.0% | $0 | +0.0% | N/A |
| Ethereum | Alpha ZCHF Safe Vault | AlphaPing | ZCHF | $69.32 | 29.94% | 10.0% | 10.0% | $23.41 | -92.6% | N/A |
| Polygon | Gondor Conservative v1.e | unattributed | USDC | $72.14 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | kpk USDC Yield | KPK | USDC | $73.62 | N/A | 0.0% | 0.0% | N/A | +3.1% | N/A |
| Ethereum | Apostro Resolv USR | Apostro | USR | $76.01 | 0.01% | 10.0% | 10.0% | $0.01 | -10.2% | N/A |
| Ethereum | Steakhouse WBTC | Steakhouse Financial | WBTC | $77.72 | 0.00% | 5.0% | 5.0% | N/A | +22.5% | N/A |
| Ethereum | SolvBTC Babylon Vault | Gauntlet | xSolvBTC | $81.36 | 0.00% | 20.0% | 20.0% | N/A | +22.1% | N/A |
| Ethereum | Alpha MUSD | AlphaPing | MUSD | $82.16 | 0.00% | 10.0% | 10.0% | $0 | +0.1% | N/A |
| Base | Testing with Frens | unattributed | USDC | $83.76 | 4.20% | 0.0% | 0.0% | $3.52 | +0.4% | N/A |
| Ethereum | Alpha WETH (installer) | unattributed | WETH | $88.57 | N/A | 0.0% | 0.0% | N/A | +76.4% | 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.