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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Arbitrum | Clearstar USDC Reactor | Clearstar | USDC | $2.51K | 2.49% | 20.0% | 20.0% | $78.4 | -0.8% | N/A |
| Ethereum | Hakutora DAI | unattributed | DAI | $2.51K | 0.00% | 15.0% | 15.0% | N/A | -0.0% | N/A |
| Ethereum | kpk ETH Yield | KPK | WETH | $2.57K | 0.00% | 0.0% | 0.0% | $0.02 | +0.0% | N/A |
| Ethereum | kpk EURC Yield | KPK | EURC | $2.57K | 2.11% | 0.0% | 0.0% | $54.2 | +1.0% | N/A |
| Monad | Steakhouse High Yield USDT0 | Steakhouse Financial | USDT0 | $2.59K | 12.05% | 10.0% | 10.0% | $349.44 | +1.8% | N/A |
| Katana | Yearn OG ETH | Yearn | vbETH | $2.71K | 0.00% | 10.0% | 10.0% | N/A | -30.9% | N/A |
| Base | Re7 RWA | unattributed | verUSDC | $2.76K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Base | Morpho Degen | RE7 Labs | DEGEN | $2.94K | 0.00% | 10.0% | 10.0% | N/A | -14.9% | N/A |
| Ethereum | Pendle WBTC | MEV Capital | WBTC | $2.98K | 0.14% | 10.0% | 10.0% | $4.74 | +22.6% | N/A |
| Ethereum | Steakhouse High Yield AUSD | Steakhouse Financial | AUSD | $3K | 0.00% | 5.0% | 5.0% | N/A | +0.0% | N/A |
| Ethereum | LlamaRisk crvUSD Vault | unattributed | crvUSD | $3.01K | 0.00% | 20.0% | 20.0% | N/A | +0.1% | N/A |
| Ethereum | Elixir USDC | Gauntlet | USDC | $3.07K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Ethereum | alpha8USDC | unattributed | USDC | $3.19K | N/A | 10.0% | 10.0% | N/A | +164.0% | N/A |
| Ethereum | Re7 USDC | RE7 Labs | USDC | $3.26K | 0.00% | 20.0% | 20.0% | N/A | +0.0% | N/A |
| Ethereum | kpk USDC Prime | KPK | USDC | $3.44K | 0.00% | 0.0% | 0.0% | N/A | -14.7% | 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.