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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Monad | Steakhouse Prime ETH | Steakhouse Financial | WETH | $287.41 | 2.79% | 10.0% | 10.0% | $4.41 | +33.3% | N/A |
| Ethereum | Turtle ETH | 9Summits | WETH | $298.23 | 1.41% | 10.0% | 10.0% | $4.68 | -91.4% | N/A |
| Base | CPT48 Selection | unattributed | USDC | $303.97 | 6.15% | 0.0% | 0.0% | $18.7 | -28.0% | N/A |
| Polygon | Brazilian Power House | unattributed | BRLA | $304.52 | 0.05% | 0.0% | 0.0% | $0.16 | +1.5% | N/A |
| Base | Gneiss Pioneer USDC | unattributed | USDC | $309.86 | 0.01% | 0.0% | 0.0% | $0.03 | +0.0% | N/A |
| Base | Morpho MAI | RE7 Labs | MAI | $327.17 | 0.00% | 10.0% | 10.0% | N/A | -0.0% | N/A |
| Ethereum | Steakhouse Prime EURC | Steakhouse Financial | EURC | $361.44 | 0.00% | 5.0% | 5.0% | N/A | +0.8% | N/A |
| Katana | Gauntlet WBTC | Gauntlet | vbWBTC | $376.86 | 0.00% | 10.0% | 10.0% | N/A | +22.0% | N/A |
| Base | 0xequity RWA USDC | unattributed | USDC | $382.22 | N/A | 0.0% | 0.0% | N/A | +11.6% | N/A |
| Ethereum | Super USDC Vault | unattributed | USDC | $388.71 | N/A | 0.0% | 0.0% | N/A | +91.0% | N/A |
| Ethereum | MaxEarn USDC | unattributed | USDC | $394.88 | 0.02% | 10.0% | 10.0% | $0.09 | +0.0% | N/A |
| Ethereum | Relend cbBTC | unattributed | cbBTC | $398.82 | 0.00% | 10.0% | 10.0% | $0.01 | +22.5% | N/A |
| Katana | Yearn OG USDT | Yearn | vbUSDT | $400.45 | 6.05% | 10.0% | 10.0% | $26.99 | -22.2% | N/A |
| Base | Magic Genie USDC | unattributed | USDC | $428.65 | N/A | 3.0% | 3.0% | N/A | +91.8% | N/A |
| Base | Testing USDC | unattributed | USDC | $443.53 | N/A | 0.0% | 0.0% | N/A | +53.7% | 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.