Vaults
577 active vaults across 11 chains · $2.03B AUM · $4.12M curator fees annualized · $63.39M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-09
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 | Gauntlet WETH Core | Gauntlet | WETH | $30.44 | 0.24% | 10.0% | 10.0% | $0.08 | +33.1% | N/A |
| Ethereum | Re7 USDC Prime | RE7 Labs | USDC | $30.07 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Base | VAULT-TST | unattributed | USDC | $29.87 | N/A | 50.0% | 50.0% | N/A | +91.9% | N/A |
| Unichain | Kedao USDT Vault | unattributed | USDT0 | $29.82 | 0.47% | 0.0% | 0.0% | $0.14 | +0.1% | N/A |
| Base | Morph WETH | unattributed | WETH | $29.65 | 5.02% | 1.0% | 1.0% | $1.5 | +33.8% | N/A |
| Unichain | Re7 USDC | RE7 Labs | USDC | $29.49 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Base | Not Gauntlet | unattributed | USDC | $28.22 | N/A | 0.0% | 0.0% | N/A | +91.7% | N/A |
| Arbitrum | dForce USDC | unattributed | USDC | $27.84 | 2.36% | 5.0% | 5.0% | $0.69 | -99.8% | N/A |
| Arbitrum | ABRC | unattributed | USDC | $27.44 | N/A | 0.0% | 0.0% | N/A | +31.3% | N/A |
| Unichain | Maxshot USDC | unattributed | USDC | $27.41 | 0.00% | 5.0% | 5.0% | $0 | +0.0% | N/A |
| Base | vvv-usdc | unattributed | USDC | $26.56 | 4.10% | 0.0% | 0.0% | $1.09 | +0.4% | N/A |
| Unichain | Morph WETH | unattributed | WETH | $26.08 | 20.42% | 0.0% | 0.0% | $5.33 | +34.3% | N/A |
| Ethereum | IMF wstETH | unattributed | wstETH | $25.51 | 6.97% | 0.0% | 0.0% | $1.78 | +33.8% | N/A |
| Katana | TEST-VAULT | unattributed | vbETH | $25.21 | 0.00% | 0.0% | 0.0% | N/A | +32.8% | N/A |
| Ethereum | SwissBorg tBTC | Gauntlet | tBTC | $24.77 | 0.00% | 5.0% | 5.0% | N/A | +24.3% | 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 9, 2026 from /vaults.