Vaults
553 active vaults across 11 chains · $2.32B AUM · $6.25M curator fees annualized · $88.22M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-12
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 $4.73K · 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | V1 | unattributed | USDC | $12.3 | 3.93% | 10.0% | 10.0% | $0.54 | +0.3% | N/A |
| Ethereum | Api3 Core USDC | unattributed | USDC | $12.23 | 2.40% | 5.0% | 5.0% | $0.31 | -100.0% | N/A |
| Arbitrum | ABRC | unattributed | USDC | $11.29 | N/A | 0.0% | 0.0% | N/A | +45.0% | N/A |
| Ethereum | Grove x Steakhouse USDC High Yield | Steakhouse Financial | USDC | $11.23 | 4.38% | 0.0% | 0.0% | $0.49 | +0.3% | N/A |
| Arbitrum | Steakhouse Prime ETH | Steakhouse Financial | WETH | $10.97 | 0.00% | 0.0% | 0.0% | N/A | -28.5% | N/A |
| Base | VeloForge Vault USDC (Base) | unattributed | USDC | $10.81 | 21.91% | 0.0% | 0.0% | $2.37 | +1.1% | N/A |
| Ethereum | Cypher Capital Core USDC | unattributed | USDC | $10.75 | 3.76% | 7.0% | 7.0% | $0.44 | +0.3% | N/A |
| Base | Morph USDC | unattributed | USDC | $10.59 | 3.75% | 1.0% | 1.0% | $0.4 | +0.3% | N/A |
| Ethereum | Bachata USDC | unattributed | USDC | $10.5 | 65.44% | 0.0% | 0.0% | $6.87 | +1.2% | N/A |
| Base | Snow USDC | unattributed | USDC | $10.37 | 4.29% | 2.0% | 2.0% | $0.45 | +0.4% | N/A |
| Base | tstcntrct | unattributed | USDC | $10.28 | 3.93% | 10.0% | 10.0% | $0.45 | +0.3% | N/A |
| Base | USDC Madness | unattributed | USDC | $10.26 | 3.94% | 10.0% | 10.0% | $0.45 | +0.3% | N/A |
| Ethereum | Hyperithm Bastion USDT | unattributed | USDT | $10.26 | 4.51% | 0.0% | 0.0% | $0.46 | +0.3% | N/A |
| Ethereum | Clearstar Institutional USDT | Clearstar | USDT | $10.23 | 5.05% | 0.0% | 0.0% | $0.52 | +0.4% | N/A |
| Unichain | usdc staging | unattributed | USDC | $10.23 | 44.16% | 0.0% | 0.0% | $4.52 | +0.9% | 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 12, 2026 from /vaults.