Vaults
577 active vaults across 11 chains · $2.03B AUM · $4.05M curator fees annualized · $62.03M 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: 788 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 | Seamless USDC Vault | unattributed | USDC | $5.93 | N/A | 0.0% | 0.0% | N/A | N/A | N/A |
| Monad | Unified Labs RWA USDC | unattributed | USDC | $5.75 | 0.17% | 10.0% | 10.0% | $0 | +0.0% | N/A |
| Base | bf test | unattributed | USDC | $5.56 | 3.68% | 10.0% | 10.0% | $0.23 | +0.5% | N/A |
| Base | Ceres USDC Vault | unattributed | USDC | $5.55 | N/A | 0.0% | 0.0% | N/A | N/A | N/A |
| Arbitrum | MetaMorphoV1_1 | unattributed | MYRC | $5.51 | 0.00% | 5.0% | 5.0% | N/A | +0.6% | N/A |
| Worldchain | test-usdc-vault | unattributed | USDC | $5.28 | 1.17% | 0.0% | 0.0% | $0.06 | +0.0% | N/A |
| Ethereum | Api3 Core USDC | unattributed | USDC | $5.16 | 2.84% | 5.0% | 5.0% | $0.15 | +0.0% | N/A |
| Arbitrum | Tridust USDC | unattributed | USDC | $5.15 | 2.21% | 15.0% | 15.0% | $0.13 | +0.0% | N/A |
| Polygon | Steakhouse Prime USDT0 | Steakhouse Financial | USDT0 | $3.86 | 5.36% | 0.0% | 0.0% | $0.21 | +0.0% | N/A |
| Polygon | Morpho Test | unattributed | USDC | $3.3 | 0.00% | 0.0% | 0.0% | $0 | +0.0% | N/A |
| Unichain | Smokehouse WSTETH | Steakhouse Financial | wstETH | $2.51 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Unichain | Pangolins USDT0 | unattributed | USDT0 | $2.22 | 5.47% | 10.0% | 10.0% | $0.14 | +0.0% | N/A |
| Polygon | Steakhouse Prime ETH | Steakhouse Financial | WETH | $2.07 | 1.78% | 0.0% | 0.0% | $0.04 | +0.0% | N/A |
| Monad | Kedao USDT0 Vault | unattributed | USDT0 | $2.02 | 3.35% | 0.0% | 0.0% | $0.01 | +0.0% | N/A |
| Polygon | Steakhouse Prime USDC | Steakhouse Financial | USDC | $1.51 | 7.00% | 0.0% | 0.0% | $0.11 | +0.0% | 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.