Morpho Watch

Morpho vaults

A Morpho vault takes deposits of one asset, such as USDC or ETH, and lends them out across several Morpho markets chosen by a curator. What you earn is the interest those borrowers pay, minus the curator's fee. Pick a vault to see where its money goes, its APY history and who controls it.

Data from Morpho's API · updated

Deposited in vaults

$6.78B

counted once, even when vaults feed other vaults

Vaults

326

177 hold over $1M

Average net APY

4.43%

weighted by deposits, vaults over $1M

Curators

41

on 13 networks

Morpho vaults
Vault Deposits Net APY 30‑day APY Fee Withdrawable
Steakhouse USDGV2⚠ Deposits switched offSteakhouse Financial · Robinhood Chain · $528.0M $528.0M528.10M USDG 4.63% 4.07% 0% $50.88M
Grove x Steakhouse USDCV2Steakhouse Financial · Base · $523.7M $523.7M523.85M USDC 4.50% 5.22% 0% $286.7M
Sentora x Spark RLUSDV2Sentora, SparkDAO · Ethereum · $499.9M $499.9M500.01M RLUSD 0.23% 0.16% 10% $464.4M
Steakhouse High Yield USDC EditionV2Steakhouse Financial · Base · $458.2M $458.2M458.33M USDC 3.33% 3.56% 25% $94.90M
Sentora RLUSD MainV2Sentora · Ethereum · $420.4M $420.4M420.46M RLUSD 5.69%incl. 2.86% rewards 3.24% 10% $27.89M
Gauntlet USDC PrimeGauntlet · Base · $398.2M $398.2M398.28M USDC 4.50% 5.20% 0% $306.4M
Spark USDC VaultSparkDAO · Base · $371.1M $371.1M371.23M USDC 4.04% 4.67% 10% $286.8M
Paypal USD MainV2Sentora · Ethereum · $355.5M $355.5M355.73M PYUSD 5.49%incl. 3.16% rewards 2.38% 0%+1.0% a year $38.40M
Gauntlet USDC PrimeV2Gauntlet · Base · $229.7M $229.7M229.79M USDC 4.50% 5.22% 0% $224.4M
Sentora PRIME MainV2Sentora · Ethereum · $187.2M $187.2M187.31M PYUSD 7.27%incl. 2.16% rewards 4.13% 15% $1.02M
Steakhouse Prime EURCVV2Steakhouse Financial · Ethereum · $158.7M $158.7M143.60M EURCV 3.00% 2.99% 0% $114.1M
Steakhouse Prime USDCV2Steakhouse Financial · Ethereum · $136.1M $136.1M136.18M USDC 4.38% 4.95% 0% $43.46M
Steakhouse Prime USDCV2Steakhouse Financial · Base · $134.1M $134.1M134.15M USDC 4.50% 5.22% 0% $121.0M
Gauntlet USDC PrimeV2Gauntlet · Ethereum · $110.5M $110.5M110.51M USDC 4.41% 4.86% 0% $46.94M
Steakhouse USDCSteakhouse Financial · Base · $104.5M $104.5M104.53M USDC 3.36% 3.87% 25% $104.5M
Ethena x Steakhouse USDCV2Steakhouse Financial · Base · $100.9M $100.9M100.92M USDC 3.98% 2.96% 5% $36.80M
Galaxy USDCV2Galaxy Curation · Arc · $92.63M $92.63M92.66M USDC 3.33% 3.18% 0% $19.75M
Sentora Huma PST MainV2Sentora · Ethereum · $86.05M $86.05M86.10M PYUSD 7.54%incl. 1.99% rewards 5.03% 15% $1.72M
Steakhouse USDG ProV2Steakhouse Financial · Arbitrum · $80.23M $80.23M80.24M USDG 7.11%incl. 4.50% rewards 2.72% 10% $13.92M
Steakhouse Prime USDTV2Steakhouse Financial · Ethereum · $75.64M $75.64M75.72M USDT 3.01% 3.94% 0% $22.55M
Keyrock Prime USDCV2Keyrock · Arc · $75.21M $75.21M75.23M USDC 2.09% 2.22% 0%+1.0% a year $23.96M
Steakhouse USDTSteakhouse Financial · Ethereum · $74.43M $74.43M74.51M USDT 2.86% 3.70% 5% $45.07M
Steakhouse USDCSteakhouse Financial · Ethereum · $66.58M $66.58M66.60M USDC 4.22% 4.69% 5% $56.18M
Gauntlet USDG PremiumV2Gauntlet · Arbitrum · $57.06M $57.06M57.07M USDG 7.11%incl. 4.50% rewards 2.75% 10% $40.0K
sky.money USDT SavingsV2Sky Money · Ethereum · $54.01M $54.01M54.07M USDT 4.36%incl. 0.72% rewards 2.85% 0% $5.03M
Grove x Steakhouse USDCV2Steakhouse Financial · Ethereum · $51.74M $51.74M51.75M USDC 4.43% 4.86% 0% $1.95M
Spark Blue Chip USDT VaultV2SparkDAO · Ethereum · $47.86M $47.86M47.91M USDT 2.70% 3.56% 10% $22.55M
Sentora OUSD MainV2Sentora · Tempo · $45.35M $45.35M45.25M OUSD 3.60%incl. 3.60% rewards <0.01% 0% $45.35M
Wintermute USDC SelectV2Armitage by Wintermute · Ethereum · $45.20M $45.20M45.21M USDC 5.61% 6.02% 0% $17.97M
Steakhouse High Yield USDCV2Steakhouse Financial · Ethereum · $42.73M $42.73M42.74M USDC 5.84% 6.62% 5% $4.45M
Clearstar cbAssets VaultV2Clearstar · Base · $35.33M $35.33M35.34M USDC 6.06%incl. 1.40% rewards 4.95% 10% $4.06M
Hyperithm USDC ApexV2Hyperithm · Monad · $35.32M $35.32M35.33M USDC 8.11%incl. 0.78% rewards 7.71% 5% $3.00
RockawayX USDC YieldV2RockawayX · Ethereum · $34.60M $34.60M34.60M USDC 8.15%incl. 0.72% rewards 7.95% 5% $15.41M
KPK USDC PrimeV2KPK · Ethereum · $30.75M $30.75M30.75M USDC 4.60% 4.97% 0% $13.84M
Flowdesk Confidential High Yield USDTV2Flowdesk · Ethereum · $28.17M $28.17M28.20M USDT 9.91%incl. 2.61% rewards 5.43% 10% $627K
sky.money USDS FlagshipV2Sky Money · Ethereum · $27.63M $27.63M27.64M USDS 5.57%incl. 4.26% rewards 0.81% 0% $20.78M
Steakhouse High Yield USDCV2Steakhouse Financial · Base · $25.51M $25.51M25.51M USDC 5.10% 6.05% 5% $9.53M
Steakhouse Prime ETHV2Steakhouse Financial · Ethereum · $24.11M $24.11M11.97K WETH 2.75% 1.92% 5% $5.28M
Gauntlet USDC FrontierV2Gauntlet · Ethereum · $23.35M $23.35M23.36M USDC 5.60% 6.12% 0% $6.24M
Steakhouse Confidential Prime USDCV2Steakhouse Financial · Ethereum · $22.75M $22.75M22.76M USDC 6.02% 6.23% 0% $16.64M
(Deprecated) Sentora pathUSDV2Sentora · Tempo · $22.53M $22.53M22.66M pathUSD 0.00% <0.01% 0% $22.53M
Gauntlet USDC PrimeGauntlet · Ethereum · $21.37M $21.37M21.38M USDC 4.17% 4.61% 5% $21.37M
Steakhouse Prime ETHV2Steakhouse Financial · Monad · $20.30M $20.30M10.11K WETH 2.44%incl. 1.19% rewards 1.42% 10% $3.44M
StableEarnV2Gauntlet · Stable · $20.22M $20.22M20.24M USDT0 6.24% 6.19% 0% $3.80M
Smokehouse USDTSteakhouse Financial · Ethereum · $20.20M $20.20M20.22M USDT 6.09% 4.61% 10% $14.44M
Gauntlet WETH PrimeV2Gauntlet · Ethereum · $19.85M $19.85M9.85K WETH 2.97% 2.03% 0% $19.5K
Pendle Ecosystem USDCV2Armitage by Wintermute · Ethereum · $19.12M $19.12M19.12M USDC 6.00%incl. 0.79% rewards 5.42% 5% $5.67M
RockawayX Confidential RWA USDCV2RockawayX · Ethereum · $18.18M $18.18M18.19M USDC 7.57% 7.88% 10% $15.41M
KPK USDC YieldV2KPK · Ethereum · $17.33M $17.33M17.34M USDC 6.44% 6.55% 0% $899K
Pendle Ecosystem High Yield USDCV2Armitage by Wintermute · Ethereum · $17.00M $17.00M17.01M USDC 8.05%incl. 0.45% rewards 7.28% 10% $9.28M
Metronome msUSD VaultGauntlet · Ethereum · $16.97M $16.97M20.95M msUSD <0.01% 0.11% 10% $16.44M
Saturn USDCV2Hyperithm · Monad · $15.86M $15.86M15.87M USDC 7.42%incl. 0.91% rewards 7.60% 8% $109
3F x Steakhouse USDCV2Steakhouse Financial · Ethereum · $15.61M $15.61M15.61M USDC 4.84% 5.02% 0% $4.45M
StableEarn Prime PYUSDV2Galaxy Curation · Stable · $15.32M $15.32M15.33M PYUSD 9.00%incl. 6.84% rewards – 0% $5.00M
Felix USDC V2V2Felix · HyperEVM · $15.15M $15.15M15.15M USDC 7.62%incl. 3.19% rewards 5.39% 10% $1.65M
August USDC V2V2August Digital · Monad · $14.90M $14.90M14.90M USDC 8.28%incl. 0.82% rewards 7.58% 0%+0.2% a year $1.47M
3Jane Ecosystem VaultV2Clearstar · Ethereum · $14.17M $14.17M14.17M USDC 8.93% 6.84% 15% $1.71M
RockawayX Tori EcosystemV2RockawayX · Ethereum · $14.11M $14.11M14.11M USDC 10.32% 8.06% 10% $999K
Huma USDC MainV2RockawayX · Ethereum · $13.77M $13.77M13.77M USDC 6.50% 7.04% 0% $2.11M
Vault Bridge WETH⚠ Deposits switched offGauntlet · Ethereum · $12.63M $12.63M6.27K WETH 2.81% 1.73% 5% $7.01M
Waterline Reservoir USDCV2Waterline · Ethereum · $11.91M $11.91M11.91M USDC 7.06%incl. 0.89% rewards 6.27% 5% $836K
Steakhouse Prime USDCSteakhouse Financial · Base · $11.53M $11.53M11.54M USDC 4.27% 4.95% 5% $11.53M
RockawayX f(x) Protocol Ecosystem USDCV2RockawayX · Ethereum · $11.24M $11.24M11.24M USDC 9.16%incl. 4.54% rewards 3.09% 10% $2.16M
Hakutora USDCHakutora · Ethereum · $11.05M $11.05M11.05M USDC 3.75% 4.11% 15% $11.05M
RockawayX USPC ecosystem vaultV2RockawayX · Ethereum · $10.96M $10.96M10.97M USDC 5.60%incl. 1.52% rewards 4.21% 10% $1.92M
Galaxy USDT QualityV2Galaxy Curation · Ethereum · $10.87M $10.87M10.88M USDT 3.01% 3.96% 0% $4.39M
Uniswap USDCV2Gauntlet · Ethereum · $10.84M $10.84M10.84M USDC 4.43% 4.86% 0% $6.13M
Smokehouse USDCSteakhouse Financial · Ethereum · $10.74M $10.74M10.74M USDC 5.46% 6.20% 10% $10.74M
Galaxy USDC QualityV2Galaxy Curation · Ethereum · $10.20M $10.20M10.20M USDC 4.43% 4.87% 0% $2.66M
Yearn OG USDCYearn · Ethereum · $10.03M $10.03M10.03M USDC 9.08% 6.92% 5% $5.14M
Osero x Gauntlet USDC PrimeV2Gauntlet · Ethereum · $10.02M $10.02M10.02M USDC 4.39% 4.87% 0% $8.51M
Wintermute USDT SelectV2Armitage by Wintermute · Ethereum · $9.98M $9.98M9.99M USDT 7.75% 5.97% 0% $1.98M
Galaxy USDC EnhancedV2Galaxy Curation · Ethereum · $9.44M $9.44M9.44M USDC 5.19% 5.76% 0%+0.4% a year $3.36M
Vault Bridge USDCSteakhouse Financial · Ethereum · $9.43M $9.43M9.43M USDC 4.21% 4.61% 5% $9.43M
Api3 dCOMP USDCV2Api3 · Ethereum · $8.69M $8.69M8.69M USDC 11.78% 16.21% 5% $368
M1 USDCV2Waterline · Ethereum · $8.62M $8.62M8.62M USDC 7.73% 7.47% 5% $860K
Re Ecosystem VaultV2Clearstar · Ethereum · $8.44M $8.44M8.44M USDC 6.78% 7.20% 10% $5.85M
Vault Bridge WBTCGauntlet · Ethereum · $8.39M $8.39M116.83 WBTC 0.00% 0.00% 5% $8.39M
Keyrock USDCV2Keyrock · Ethereum · $8.30M $8.30M8.30M USDC 6.80%incl. 0.19% rewards 6.66% 5% $2.11M
Gauntlet USDT FrontierGauntlet · Ethereum · $8.13M $8.13M8.14M USDT 2.85% 3.69% 5% $7.51M
SwissBorg Morpho USDC⚠ Name flagged by MorphoGauntlet · Ethereum · $8.08M $8.08M8.08M USDC 3.99% 4.37% 5% $8.08M
Hyperithm USDC ApexV2Hyperithm · Ethereum · $7.50M $7.50M7.50M USDC 6.28% 6.56% 10% $5.0K
Steakhouse ETHSteakhouse Financial · Ethereum · $7.15M $7.15M3.55K WETH 2.75% 1.91% 5% $5.04M
Pangolins USDCPangolins · Base · $6.90M $6.90M6.90M USDC 4.04% 4.67% 10% $6.90M
Gauntlet USDC RWAGauntlet · Ethereum · $6.71M $6.71M6.72M USDC 5.71% 5.19% 0% $1.77M
Gauntlet WETH Prime⚠ Deposits switched offGauntlet · Ethereum · $6.24M $6.24M3.10K WETH 3.04% 1.92% 5% $5.46M
Yearn USDCYearn · Ethereum · $6.22M $6.22M6.22M USDC 4.43% 4.85% 0% $6.22M
SharpByte AUSD Tori EcosystemV2SharpByte · Monad · $6.21M $6.21M6.21M AUSD 7.02%incl. 2.45% rewards 6.68% 10% $2.67M
Metronome msETH VaultGauntlet · Base · $6.19M $6.19M3.54K msETH <0.01% 0.01% 5% $6.18M
KPK wARS YieldV2KPK · Ethereum · $6.07M $6.07M10.09B wARS 24.50%incl. 24.39% rewards 0.10% 0% $5.86M
Y10k AUSD VaultV2RockawayX, Y10k Capital · Monad · $5.80M $5.80M5.81M AUSD 6.15%incl. 1.48% rewards 5.20% 10% $56.8K
August USPCV2August Digital · Monad · $5.76M $5.76M5.76M USDC 6.47%incl. 1.27% rewards 4.20% 0% $534K
Wintermute Confidential WBTCV2Armitage by Wintermute · Ethereum · $5.74M $5.74M79.84 WBTC 4.80%incl. 3.63% rewards 0.89% 0% $3.14M
Belem RWA EURCVV2RockawayX · Ethereum · $5.65M $5.65M5.12M EURCV 5.65% 4.15% 10% $664K
sky.money USDC Risk CapitalV2Sky Money · Ethereum · $5.47M $5.47M5.47M USDC 8.26% 4.42% 0% $452K
Steakhouse Prime USDCV2Steakhouse Financial · Arc · $5.29M $5.29M5.29M USDC 3.44% 3.23% 0% $5.29M
KPK USDC YieldV2KPK · Base · $5.20M $5.20M5.20M USDC 6.61%incl. 0.65% rewards 6.47% 0% $910K
Hakutora USDTHakutora · Ethereum · $5.17M $5.17M5.18M USDT 2.54% 3.30% 15% $5.17M
Steakhouse tGBPV2Steakhouse Financial · Ethereum · $5.16M $5.16M3.90M tGBP 3.58%incl. 3.50% rewards 0.06% 0% $4.72M
Gauntlet USDC FrontierV2Gauntlet · Base · $4.87M $4.87M4.87M USDC 5.50% 6.06% 0% $2.92M

How to read this table

Net APY is what depositors earn right now after the curator's fee, including any token rewards. It moves every block, so the 30-day APY, measured from the growth of the vault's share price (so without token rewards, which are paid out separately), is the steadier guide. Withdrawable is how much could leave the vault right now without waiting for borrowers to repay. V1 vaults, also called MetaMorpho vaults, lend only into Morpho markets; V2 vaults are Morpho's newer design, can use other lending venues too, and can also charge a small yearly management fee. Read how Morpho vaults work and Morpho APY explained.

Only vaults listed in the Morpho app are shown. Anyone can create a Morpho vault, and unlisted ones include tests, private vaults and vaults tied to failed markets.