Vaults
553 active vaults across 11 chains · $2.4B AUM · $6.32M curator fees annualized · $91.4M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-10
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 $4.83K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 768 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 | Gauntlet USDC Prime | Gauntlet | USDC | $442.49M | 4.00% | 0.0% | 0.0% | $17.71M | +25.8% | N/A |
| Base | Steakhouse Prime USDC | Steakhouse Financial | USDC | $329.03M | 3.80% | 5.0% | 5.0% | $13.17M | -29.8% | N/A |
| Ethereum | Sentora PYUSD | Sentora | PYUSD | $289.81M | 2.43% | 0.0% | 0.0% | $7.04M | +19.4% | N/A |
| Base | Steakhouse USDC | Steakhouse Financial | USDC | $287.12M | 2.99% | 25.0% | 25.0% | $11.49M | -1.4% | N/A |
| Ethereum | Steakhouse Ethena USDtb | Steakhouse Financial | USDtb | $100.32M | 8.70% | 5.0% | 5.0% | $9.2M | +15.3% | N/A |
| Ethereum | Steakhouse USDC | Steakhouse Financial | USDC | $96.85M | 3.46% | 5.0% | 5.0% | $3.53M | -26.2% | N/A |
| Ethereum | Steakhouse USDT | Steakhouse Financial | USDT | $93.6M | 3.43% | 5.0% | 5.0% | $3.39M | -25.2% | N/A |
| Ethereum | Vault Bridge WBTC | Gauntlet | WBTC | $45.9M | 0.00% | 5.0% | 5.0% | $24.79 | +21.5% | N/A |
| Ethereum | Adpend USDC | unattributed | USDC | $35.5M | N/A | 50.0% | 50.0% | N/A | +94.1% | N/A |
| HyperEVM | Felix USDC (Frontier) | Felix | USDC | $34.08M | 9.40% | 10.0% | 10.0% | $3.58M | +59.1% | N/A |
| Ethereum | Gauntlet USDC Prime | Gauntlet | USDC | $33.45M | 3.63% | 0.0% | 0.0% | $1.21M | -76.9% | N/A |
| HyperEVM | Felix HYPE | Felix | WHYPE | $28.13M | 5.43% | 10.0% | 10.0% | $1.7M | -44.0% | N/A |
| Base | Pangolins USDC | Pangolins | USDC | $27.93M | 4.00% | 0.0% | 0.0% | $1.12M | +5.2% | N/A |
| Ethereum | Smokehouse USDT | Steakhouse Financial | USDT | $25.42M | 3.77% | 10.0% | 10.0% | $1.07M | -7.9% | N/A |
| Katana | Steakhouse Prime USDC | Steakhouse Financial | vbUSDC | $24.35M | 6.15% | 10.0% | 10.0% | $978.41K | -38.1% | 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 June 10, 2026 from /vaults.