Vaults
553 active vaults across 11 chains · $2.4B AUM · $6.01M curator fees annualized · $85.77M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-11
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 $4.72K · 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Relend USDC | B.Protocol | USDC | $15.84K | 1.48% | 0.0% | 0.0% | $234.32 | -34.7% | N/A |
| Ethereum | Gauntlet WETH Ecosystem | Gauntlet | WETH | $15.27K | 1.53% | 10.0% | 10.0% | $259.14 | -30.2% | N/A |
| Base | Earn Max USDC by Mo Wallet | unattributed | USDC | $14.17K | 7.59% | 10.0% | 10.0% | $1.2K | -50.8% | N/A |
| Base | Pyth USDC | unattributed | USDC | $14.11K | 0.01% | 10.0% | 10.0% | $1.61 | -0.1% | N/A |
| Base | 9Summits WETH Core 1.1 | 9Summits | WETH | $13.77K | 0.00% | 10.0% | 10.0% | N/A | -46.1% | N/A |
| Ethereum | AlphaPing PT Frontier | AlphaPing | USDC | $13.39K | 8.77% | 10.0% | 10.0% | $1.31K | +0.5% | N/A |
| Base | Zircuit Finance USDC on Base | unattributed | USDC | $13.31K | 4.00% | 0.0% | 0.0% | $532.95 | -11.8% | N/A |
| Monad | Steakhouse High Yield AUSD | Steakhouse Financial | AUSD | $12.94K | 5.82% | 10.0% | 10.0% | $478.29 | -98.6% | N/A |
| Base | Pyth ETH | unattributed | WETH | $12.3K | 0.00% | 10.0% | 10.0% | $0.68 | -37.6% | N/A |
| Monad | Steakhouse High Yield USDC | Steakhouse Financial | USDC | $11.81K | 5.90% | 10.0% | 10.0% | $455.48 | +0.5% | N/A |
| Base | Morpho MAI | unattributed | MAI | $11.71K | 5.49% | 10.0% | 10.0% | $716.98 | -65.9% | N/A |
| Ethereum | SovaBase USDC | unattributed | USDC | $11.56K | 7.08% | 5.0% | 5.0% | $863.44 | +0.5% | N/A |
| Ethereum | Spark USDS Vault | SparkDAO | USDS | $11.21K | 0.00% | 10.0% | 10.0% | $0.03 | -0.0% | N/A |
| Ethereum | Falcon USDf Core | AlphaPing | USDf | $10.36K | 0.61% | 10.0% | 10.0% | $70.5 | -9.6% | N/A |
| Polygon | Re7 wPOL | unattributed | WPOL | $10.33K | N/A | 10.0% | 10.0% | N/A | -89.8% | 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 11, 2026 from /vaults.