Vaults
577 active vaults across 11 chains · $2B AUM · $4.09M curator fees annualized · $61.79M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-11
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· |
|---|---|---|---|---|---|---|---|---|---|---|
| OP Mainnet | Gauntlet USDC Prime | Gauntlet | USDC | $879.05K | 3.97% | 10.0% | 10.0% | $38.84K | -20.9% | N/A |
| Ethereum | Waterline infiniFi USDC | Waterline | USDC | $884K | 7.37% | 5.0% | 5.0% | $68.72K | -26.7% | N/A |
| Base | Clearstar USDC Reactor | Clearstar | USDC | $902.7K | 3.33% | 25.0% | 25.0% | $40.32K | -28.4% | N/A |
| HyperEVM | MEV Capital HYPE | MEV Capital | WHYPE | $909.29K | 5.03% | 10.0% | 10.0% | $50.94K | -9.4% | N/A |
| Polygon | Compound USDC | Gauntlet | USDC | $931.98K | 2.66% | 10.0% | 10.0% | $27.57K | +0.1% | N/A |
| Arbitrum | frobUSDC | unattributed | USDC | $960.33K | N/A | 0.0% | 0.0% | N/A | +63.5% | N/A |
| Ethereum | Resolv USDC | Gauntlet | USDC | $1.03M | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| HyperEVM | OUSD Vault V1 | Yearn | USDC | $1.04M | 6.89% | 5.0% | 5.0% | $75.8K | +0.6% | N/A |
| Base | Moonwell Flagship EURC | Anthias Labs | EURC | $1.1M | 2.27% | 15.0% | 15.0% | $28.27K | -1.2% | N/A |
| Ethereum | Duplicated Key | unattributed | USDC | $1.17M | N/A | 0.0% | 0.0% | N/A | +89.7% | N/A |
| Base | OUSD Vault V1 | Yearn | USDC | $1.21M | 4.28% | 5.0% | 5.0% | $54.63K | +0.4% | N/A |
| Ethereum | Gauntlet EURC Core | Gauntlet | EURC | $1.25M | 1.96% | 10.0% | 10.0% | $27.17K | +0.6% | N/A |
| Ethereum | Cronos USDC | Steakhouse Financial | USDC | $1.28M | 4.27% | 0.0% | 0.0% | $54.88K | -6.0% | N/A |
| Ethereum | Clearstar USDC Reactor | Clearstar | USDC | $1.47M | 6.67% | 25.0% | 25.0% | $132.3K | -10.6% | N/A |
| Ethereum | Lulo USDC | unattributed | USDC | $1.71M | N/A | 0.0% | 0.0% | N/A | -58.7% | 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 11, 2026 from /vaults.