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· |
|---|---|---|---|---|---|---|---|---|---|---|
| OP Mainnet | usdc staging | unattributed | USDC | $10.37 | 4.43% | 0.0% | 0.0% | $0.46 | +0.5% | N/A |
| Ethereum | Hyperithm Bastion USDT | unattributed | USDT | $10.32 | 3.11% | 0.0% | 0.0% | $0.32 | +0.1% | N/A |
| Katana | usdc staging | unattributed | vbUSDC | $10.25 | 6.12% | 0.0% | 0.0% | $0.27 | -0.1% | N/A |
| Base | usdc staging | unattributed | USDC | $10.23 | 4.27% | 0.0% | 0.0% | $0.44 | +0.4% | N/A |
| Arbitrum | usdc staging | unattributed | USDC | $10.21 | 4.12% | 0.0% | 0.0% | $0.42 | +0.4% | N/A |
| Base | USDCvault | unattributed | USDC | $10 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Unichain | jvatest | unattributed | USDC | $10 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Unichain | Clearstar USDT0 Reactor | Clearstar | USDT0 | $9.79 | 0.00% | 10.0% | 10.0% | $0 | -0.0% | N/A |
| Base | Poindexter | unattributed | USDC | $9.63 | 4.28% | 0.0% | 0.0% | $0.41 | +0.4% | N/A |
| Base | Starta USDC Pre-Deposit Vault | unattributed | USDC | $9.51 | N/A | 0.0% | 0.0% | N/A | +45.8% | N/A |
| Polygon | MEV Capital USDC Vault | MEV Capital | USDC | $8.75 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Ethereum | Hyperithm cbBTC Apex | Hyperithm | cbBTC | $8.41 | 0.00% | 5.0% | 5.0% | N/A | +18.5% | N/A |
| Base | Balloon Morpho Strategy 1 | unattributed | USDC | $8.26 | 4.28% | 0.0% | 0.0% | $0.35 | +0.4% | N/A |
| Base | Re7 Resolv USR | RE7 Labs | USR | $8.22 | 0.00% | 10.0% | 10.0% | N/A | -10.9% | N/A |
| Ethereum | Safe x Smokehouse WBTC | Steakhouse Financial | WBTC | $8.19 | 0.00% | 11.5% | 11.5% | N/A | +21.7% | 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.