Vaults
576 active vaults across 11 chains · $2.04B AUM · $4.29M curator fees annualized · $64.77M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-08
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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Re7 WETH | RE7 Labs | WETH | $717.48K | 0.00% | 20.0% | 20.0% | N/A | +27.3% | N/A |
| Base | Steakhouse EURC | Steakhouse Financial | EURC | $715.22K | 3.19% | 5.0% | 5.0% | $24.07K | -7.5% | N/A |
| Base | UltraYield USDC | UltraYield | USDC | $703.26K | 5.28% | 0.0% | 0.0% | $37.11K | +70.1% | N/A |
| Base | King RSS USDC Vault | unattributed | USDC | $700.01K | 9.36% | 10.0% | 10.0% | $73.19K | +0.0% | N/A |
| Ethereum | August AUSD | August Digital | AUSD | $674.22K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Arbitrum | MEV Capital USDC | MEV Capital | USDC | $652.05K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | Moonwell Frontier cbBTC | Anthias Labs | cbBTC | $649.21K | 0.31% | 15.0% | 15.0% | $90.49 | -70.0% | N/A |
| Ethereum | Waterline Reservoir USDC | Waterline | USDC | $648.98K | 5.90% | 5.0% | 5.0% | $29.09K | -4.4% | N/A |
| Ethereum | ALPHA USDC Core | AlphaPing | USDC | $630.55K | 3.34% | 50.0% | 50.0% | $42.86K | -44.2% | N/A |
| Ethereum | Hybrid Tandem Propulsion USDC | unattributed | USDC | $615.03K | 0.00% | 0.0% | 0.0% | $4.03 | +0.0% | N/A |
| Unichain | Gauntlet WETH | Gauntlet | WETH | $588.44K | 9.00% | 10.0% | 10.0% | $59.16K | +13.9% | N/A |
| Arbitrum | Gauntlet USDC Prime | Gauntlet | USDC | $581.85K | 3.69% | 10.0% | 10.0% | $23.89K | +13.4% | N/A |
| Base | Extrafi XLend WETH | Gauntlet | WETH | $573.74K | 1.36% | 10.0% | 10.0% | $8.67K | +19.4% | N/A |
| Base | Safe x Steakhouse USDC | Steakhouse Financial | USDC | $549.88K | 3.86% | 10.0% | 10.0% | $23.63K | -1.1% | N/A |
| Ethereum | Smokehouse WSTETH | Steakhouse Financial | wstETH | $528.77K | 0.00% | 10.0% | 10.0% | N/A | -20.0% | 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 8, 2026 from /vaults.