Vaults
576 active vaults across 11 chains · $2.02B AUM · $4.07M curator fees annualized · $62.32M 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 | TFT USDC | unattributed | USDC | $903.51 | 3.40% | 0.0% | 0.0% | $30.73 | N/A | N/A |
| Katana | Clearstar USDC Reactor | Clearstar | vbUSDC | $867.62 | 4.75% | 20.0% | 20.0% | $51.78 | -13.8% | N/A |
| Arbitrum | Yearn OG WETH | Yearn | WETH | $860.87 | 0.09% | 5.0% | 5.0% | $0.77 | +33.1% | N/A |
| HyperEVM | MYRMIDONS USDT0 | unattributed | USD₮0 | $814.08 | 1.49% | 0.0% | 0.0% | $12.11 | +0.2% | N/A |
| Base | base-test | unattributed | USDC | $773.1 | N/A | 0.0% | 0.0% | N/A | +90.3% | N/A |
| Ethereum | LeadBlock USDC RWA | unattributed | USDC | $766.45 | 0.84% | 50.0% | 50.0% | $12.87 | +0.2% | N/A |
| HyperEVM | Hyperstable HWHLP/USH | unattributed | USH | $761.86 | 0.07% | 50.0% | 50.0% | $1.03 | +4.5% | N/A |
| Base | Gauntlet sUSDS Core | Gauntlet | sUSDS | $714.91 | 0.14% | 0.0% | 0.0% | $1 | +3.4% | N/A |
| Arbitrum | Only Trust | unattributed | USDC | $701.13 | 12.44% | 0.0% | 0.0% | $87.21 | +0.0% | N/A |
| Monad | Steakhouse High Yield USD1 | Steakhouse Financial | USD1 | $691.3 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Ethereum | Hadjime USDC Prime | unattributed | USDC | $662 | 2.67% | 5.0% | 5.0% | $18.62 | -99.8% | N/A |
| Base | Max Yield USDC | unattributed | USDC | $650.93 | 4.16% | 0.0% | 0.0% | $27.05 | +0.4% | N/A |
| Ethereum | Pangolins USDT | Pangolins | USDT | $648.24 | 2.66% | 10.0% | 10.0% | $19.18 | +0.3% | N/A |
| Base | Steakhouse sUSDS | Steakhouse Financial | sUSDS | $646.15 | 0.00% | 0.0% | 0.0% | N/A | +0.3% | N/A |
| Base | Relend ETH | B.Protocol | WETH | $624.15 | 0.00% | 10.0% | 10.0% | N/A | +33.3% | 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.