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· |
|---|---|---|---|---|---|---|---|---|---|---|
| HyperEVM | Gauntlet USDT0 Vault | Gauntlet | USD₮0 | $485K | 5.89% | 10.0% | 10.0% | $31.84K | -4.2% | N/A |
| Base | Gauntlet cbBTC Core | Gauntlet | cbBTC | $476.08K | 0.04% | 10.0% | 10.0% | $206.4 | +91.5% | N/A |
| Base | Gauntlet WETH Core | Gauntlet | WETH | $469.78K | 2.02% | 10.0% | 10.0% | $10.58K | +24.1% | N/A |
| Ethereum | Gauntlet eUSD Core | Gauntlet | eUSD | $442.41K | 2.92% | 10.0% | 10.0% | $14.4K | -10.7% | N/A |
| Base | Extrafi XLend USDC | Gauntlet | USDC | $433.21K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Arbitrum | Hyperithm USDC Apex | Hyperithm | USDC | $409.76K | 3.03% | 10.0% | 10.0% | $13.8K | -8.4% | N/A |
| Ethereum | Safe x Steakhouse ETH | Steakhouse Financial | WETH | $402.91K | 1.53% | 10.0% | 10.0% | $6.85K | +315.0% | N/A |
| Ethereum | Longtail Strategy USDS | unattributed | USDS | $371.45K | 0.01% | 50.0% | 50.0% | $37.67 | +0.0% | N/A |
| HyperEVM | Felix USDe | Felix | USDe | $371.24K | 7.01% | 10.0% | 10.0% | $29.01K | -25.8% | N/A |
| Base | Term Prime USDC | unattributed | USDC | $371.09K | 4.64% | 0.0% | 0.0% | $17.24K | +0.0% | N/A |
| Ethereum | Avantgarde USDC Core | Avantgarde | USDC | $343.18K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| HyperEVM | Felix USDT0 (Frontier) | Felix | USD₮0 | $310.56K | 5.82% | 10.0% | 10.0% | $20.15K | -60.1% | N/A |
| Ethereum | Smokehouse WSTETH | Steakhouse Financial | wstETH | $304.04K | 0.00% | 10.0% | 10.0% | N/A | -52.8% | N/A |
| Ethereum | MEV Capital USD0 | MEV Capital | USD0 | $291.78K | N/A | 10.0% | 10.0% | N/A | +40.9% | N/A |
| Base | Apostro Resolv USDC | Apostro | USDC | $285.53K | N/A | 10.0% | 10.0% | N/A | +89.5% | 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.