Vaults
577 active vaults across 11 chains · $2.01B AUM · $4.09M curator fees annualized · $61.61M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Re7 WETH | RE7 Labs | WETH | $65.68K | 0.00% | 10.0% | 10.0% | N/A | +31.4% | N/A |
| Base | Steakhouse ETH | Steakhouse Financial | WETH | $72.09K | 0.00% | 5.0% | 5.0% | N/A | -33.3% | N/A |
| Unichain | Gauntlet USDC | Gauntlet | USDC | $75.66K | 2.57% | 10.0% | 10.0% | $2.17K | -9.6% | N/A |
| Ethereum | Re7 WBTC | RE7 Labs | WBTC | $75.96K | 0.00% | 10.0% | 10.0% | N/A | +18.6% | N/A |
| Ethereum | Gauntlet LBTC Core | Gauntlet | LBTC | $81.65K | 0.04% | 10.0% | 10.0% | $37.8 | +21.8% | N/A |
| Base | Yearn OG WETH | Yearn | WETH | $92.42K | 2.10% | 10.0% | 10.0% | $2.16K | +29.4% | N/A |
| Worldchain | Re7 WARS | unattributed | wARS | $95.8K | 24.93% | 10.0% | 10.0% | $68.28 | +14.0% | N/A |
| Ethereum | Hakutora cbBTC | unattributed | cbBTC | $96.32K | 0.00% | 15.0% | 15.0% | N/A | +21.8% | N/A |
| Base | Clearstar ETH Reactor | Clearstar | WETH | $97.7K | 1.72% | 8.0% | 8.0% | $1.83K | -1.5% | N/A |
| Ethereum | Cap Ecosystem USDC | Gauntlet | USDC | $103.12K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Arbitrum | MS-sUSDC | unattributed | sUSDC | $103.81K | 0.00% | 0.0% | 0.0% | $0 | +0.3% | N/A |
| Ethereum | Flagship ETH | unattributed | WETH | $104.4K | 0.00% | 0.0% | 0.0% | N/A | +31.8% | N/A |
| Arbitrum | MS-sUSDe | unattributed | sUSDe | $106.74K | 0.00% | 0.0% | 0.0% | $0.01 | +0.3% | N/A |
| Ethereum | Tanken USDC | unattributed | USDC | $110.36K | N/A | 10.0% | 10.0% | N/A | +91.1% | N/A |
| Base | Seamless cbBTC Vault | unattributed | cbBTC | $110.87K | 0.00% | 15.0% | 15.0% | N/A | +7.9% | 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 September 10, 2026 from /vaults.