Bitget x Steakhouse USDT on Arbitrum
V2A Morpho V2 vault on Arbitrum that lends out USDT0 deposits, curated by Steakhouse Financial. Depositors earn 5.16% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
5.16%
after fees, paid to depositors
30-day APY
2.40%
7-day 4.34%, from the share price
Deposits
$1.12M
1.12M USDT0
Withdrawable now
$59.7K
5% of deposits
Performance fee
10%
of the interest earned
Depositors
7,699
largest holds 40.1%
Bitget x Steakhouse USDT APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| WBTC / USDT0LLTV 86% | $1.03M | 53.5% |
| sUSDS / USDT0LLTV 94.5% | $155K | 8.0% |
| wstETH / USDT0LLTV 86% | $80.6K | 4.2% |
| WETH / USDT0LLTV 86% | $63.8K | 3.3% |
| XAUt0 / USDT0LLTV 77% | $19.8K | 1.0% |
| weETH / USDT0LLTV 86% | $16.3K | 0.8% |
| sUSDe / USDT0LLTV 91.5% · under $1,000, not tracked here | $35.00 | <0.01% |
| bitgetUSDC / USDT0LLTV 96.5% · under $1,000, not tracked here | $7.00 | <0.01% |
| Idle cashnot lent out | $562K | 29.1% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| WBTC | 76.2% |
|---|---|
| sUSDS | 14.1% |
| WETH | 5.2% |
| XAUt0 | 3.1% |
| wstETH | 0.9% |
| weETH | 0.6% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 3.13% |
|---|---|
| Last 7 days | 4.34% |
| Last 30 days | 2.40% |
| Last 90 days | 2.60% |
Who controls this vault
| Curator | Steakhouse Financial |
|---|---|
| Owner | 0xca9f…f5ee |
| Timelock to raise a cap | 7 dayswait before more can go into a market |
| Timelock to add an adapter | 7 dayswait before a new kind of investment |
| Timelock to raise fees | None |
| Allocators | 7addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | December 15, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDT0price $0.9990 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 5.75% |
| Vault contract | 0xbeef…492F |
| USDT0 token | 0xFd08…Cbb9 |
| Network | Arbitrum |
The curator's description: "The Steakhouse High Yield USDT0 vault aims to optimize for yield on a wide range of collaterals."
Largest depositors
7,699 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x0F99…62E7 | $449K | 40.1% |
| 0xa544…1a69 | $408K | 36.4% |
| 0xD846…3a49 | $106K | 9.4% |
| 0x9c32…6ADc | $101K | 9.0% |
| 0x09e6…9984 | $97.8K | 8.7% |
| 0xF629…830a | $80.3K | 7.2% |
| 0x24CD…14A7 | $61.9K | 5.5% |
| 0x95d9…3997 | $54.1K | 4.8% |
| 0xC629…2a24 | $53.1K | 4.7% |
| 0xa1AD…d0d8 | $51.2K | 4.6% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Bitget x Steakhouse USDT
Bitget x Steakhouse USDT is a Morpho V2 vault on Arbitrum, created on December 15, 2025. It takes USDT0 deposits and lends them to borrowers in 8 Morpho markets. The curator, Steakhouse Financial, decides which markets it may use and how much can go into each.
It holds $1.12M (1.12M USDT0) from 7,699 depositors and pays a net APY of 5.16% after its 10% performance fee. Over the last 30 days depositors actually earned 2.40% a year.
Its largest position is WBTC / USDT0 at 53% of its deposits, followed by sUSDS / USDT0 (8%) and wstETH / USDT0 (4%). 29% sits idle, not lent out. Counting every market, its loans are backed mainly by WBTC (76%), sUSDS (14%) and WETH (5%). 5% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 7 days, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Bitget x Steakhouse USDT: quick answers
What is the APY of Bitget x Steakhouse USDT on Arbitrum?
Bitget x Steakhouse USDT pays 5.16% net APY right now, after its fees. Measured from the growth of its share price, it paid 2.40% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Bitget x Steakhouse USDT lend against?
It lends USDT0 through 8 Morpho markets. The biggest is WBTC / USDT0 with 53% of its deposits. 29% sits idle. Overall its loans are backed mainly by WBTC (76%), sUSDS (14%) and WETH (5%).
Can I withdraw from Bitget x Steakhouse USDT right now?
About $59.7K of its $1.12M in deposits (5%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Bitget x Steakhouse USDT and what does it charge?
Steakhouse Financial curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Bitget x Steakhouse USDT?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Adding a market or raising a cap waits behind a timelock of 7 days. This is not advice.
Other USDT0 vaults
The same deposit asset, other curators and networks
| Vault | Net APY |
|---|---|
| StableEarnV2Gauntlet · Stable · $20.22M | 6.24% |
| Compound USDT⚠ Deposits switched offGauntlet · Polygon · $162K | 1.35% |
