Vaults
576 active vaults across 11 chains · $2.04B AUM · $4.02M curator fees annualized · $61.49M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Apostro Resolv USDC | Apostro | USDC | $522.16K | N/A | 10.0% | 10.0% | N/A | +92.8% | N/A |
| HyperEVM | Gauntlet USDT0 Vault | Gauntlet | USD₮0 | $484.96K | 5.84% | 10.0% | 10.0% | $31.59K | -4.1% | N/A |
| Base | Gauntlet WETH Core | Gauntlet | WETH | $471.16K | 1.63% | 10.0% | 10.0% | $8.56K | +19.0% | N/A |
| Base | Gauntlet cbBTC Core | Gauntlet | cbBTC | $466.1K | 0.04% | 10.0% | 10.0% | $206.74 | +83.6% | N/A |
| Ethereum | Gauntlet eUSD Core | Gauntlet | eUSD | $442.38K | 2.92% | 10.0% | 10.0% | $14.39K | -10.9% | N/A |
| Base | Extrafi XLend USDC | Gauntlet | USDC | $433.18K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Arbitrum | Hyperithm USDC Apex | Hyperithm | USDC | $409.72K | 3.08% | 10.0% | 10.0% | $14.02K | -8.4% | N/A |
| Ethereum | Safe x Steakhouse ETH | Steakhouse Financial | WETH | $404.11K | 1.52% | 10.0% | 10.0% | $6.82K | +305.3% | N/A |
| Ethereum | Longtail Strategy USDS | unattributed | USDS | $371.42K | 0.01% | 50.0% | 50.0% | $37.53 | -0.0% | N/A |
| Base | Term Prime USDC | unattributed | USDC | $371.09K | 4.64% | 0.0% | 0.0% | $17.24K | +0.0% | N/A |
| HyperEVM | Felix USDe | Felix | USDe | $370.69K | 7.26% | 10.0% | 10.0% | $30.02K | -27.6% | N/A |
| Ethereum | Avantgarde USDC Core | Avantgarde | USDC | $343.15K | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| HyperEVM | Felix USDT0 (Frontier) | Felix | USD₮0 | $310.54K | 5.71% | 10.0% | 10.0% | $19.75K | -59.1% | N/A |
| Ethereum | MEV Capital USD0 | MEV Capital | USD0 | $290.71K | N/A | 10.0% | 10.0% | N/A | +42.1% | N/A |
| Base | Apostro Resolv USDC | Apostro | USDC | $283.95K | N/A | 10.0% | 10.0% | N/A | +92.6% | 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.