Vaults
576 active vaults across 11 chains · $2.02B AUM · $4.02M curator fees annualized · $61.49M 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: 787 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 | Steakhouse EURC | Steakhouse Financial | EURC | $715.44K | 3.17% | 5.0% | 5.0% | $23.92K | -4.6% | N/A |
| Ethereum | Re7 WETH | RE7 Labs | WETH | $715.34K | 0.00% | 20.0% | 20.0% | N/A | +30.3% | N/A |
| Base | UltraYield USDC | UltraYield | USDC | $711.32K | 5.22% | 0.0% | 0.0% | $37.12K | +71.2% | N/A |
| Base | King RSS USDC Vault | unattributed | USDC | $700.01K | 9.36% | 10.0% | 10.0% | $73.19K | +0.0% | N/A |
| Ethereum | August AUSD | August Digital | AUSD | $674.27K | 0.00% | 0.0% | 0.0% | N/A | +0.1% | N/A |
| Arbitrum | MEV Capital USDC | MEV Capital | USDC | $652.1K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | Waterline Reservoir USDC | Waterline | USDC | $649.05K | 5.73% | 5.0% | 5.0% | $27.48K | -4.3% | N/A |
| Base | Moonwell Frontier cbBTC | Anthias Labs | cbBTC | $646.58K | 0.32% | 15.0% | 15.0% | $90.33 | -69.5% | N/A |
| Ethereum | ALPHA USDC Core | AlphaPing | USDC | $630.63K | 3.34% | 50.0% | 50.0% | $42.89K | -44.1% | N/A |
| Ethereum | Hybrid Tandem Propulsion USDC | unattributed | USDC | $615.08K | 0.00% | 0.0% | 0.0% | $4.18 | +0.0% | N/A |
| Arbitrum | Gauntlet USDC Prime | Gauntlet | USDC | $598.85K | 3.38% | 10.0% | 10.0% | $22.54K | +1.9% | N/A |
| Unichain | Gauntlet WETH | Gauntlet | WETH | $587.34K | 8.19% | 10.0% | 10.0% | $53.68K | +16.9% | N/A |
| Base | Extrafi XLend WETH | Gauntlet | WETH | $572.04K | 1.53% | 10.0% | 10.0% | $9.76K | +22.3% | N/A |
| Base | Safe x Steakhouse USDC | Steakhouse Financial | USDC | $549.94K | 3.75% | 10.0% | 10.0% | $22.94K | -1.1% | N/A |
| Ethereum | Apostro Resolv USDC | Apostro | USDC | $525.06K | N/A | 10.0% | 10.0% | N/A | +89.7% | 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 9, 2026 from /vaults.