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Morpho vaults

DeFi protocol

Morpho lists 152 reported yield opportunities. Top-ranked: Wintermute USDC Select (V2) (USDC, Ethereum) at 5.78% APY.

Updated 11 Nov 2026, 03:01 UTC
Top-ranked rate
5.78% APY
USDC, grade B
Deposits in listed markets
$5.8B
Best grade available
A, lower risk
across this platform's offers

Chains: Ethereum, Base, Arc, Stable, Monad, Hyperliquid L1, Arbitrum, OP Mainnet

How Morpho vaults work, and how to choose one

Morpho’s record

Launched
December 28, 2023, over 2 years ago.
Exploits
  • April 10, 2025: Morpho App front-end misconfiguration (Bundler3 switch sent token approvals to the wrong contract); one user's bundle intercepted by whitehat MEV bot c0ffeebabe.eth, funds returned; contracts unaffected. $2.6M lost, funds returned or users made whole. morpho.org
Audits
Audited. Reports on github.com
Getting out

$2.7B of the $5.8B deposited in its listed markets can be withdrawn at once right now.

Why its top-ranked rate is graded B

B (Moderate risk)USDC Wintermute USDC Select (V2) · Ethereum
  • Lends 46% of deposits against tokens we cannot classify and credit-backed dollars+1
  • A curator decides where the deposits go (curator risk)+1
  • Moderate liquidity (under $25M, $17.3M available of $44.7M deposited)+1
  • Weighed at no points: immaterial past exploit (users made whole), under 0.1% of the protocol's value locked.
3 risk points → grade B. How we grade.

Reported Morpho yield opportunities

BTC2 rates

Below this offer’s grade D, the best BTC yield right now is 0.13% APY on Venus Core Pool (BTCB), at grade C.

BTC icon
cbBTC · Hyperithm cbBTC Apex (V2)

BTC

Not a pick: it is graded D, the highest risk.

Yield vault
1.99%APY
Monad
30d avg 2.23%. This rate has held close to its 30-day average.
Earn
BTC icon
cbBTC · Moonwell Frontier cbBTC

BTC

Not a pick: it is graded D, the highest risk.

Yield vault
0.15%APY
Base
incl. 0.12% temporary rewards: that part of the 0.15% rate is incentives a sponsor pays for now, not organic yield30d avg 0.15%. This rate has held close to its 30-day average.
Earn
ETHTop 5 of 17. Every ETH rate

The best ETH yield at grade C right now is 2.85% APY on Origin Ether (superOETHb).

ETH icon
WETH · Re7 WETH (V2)

ETH

Not a pick: it can pay out only $102K to depositors today; picks need $10M.

Yield vault
3.06%APY
OP Mainnet
30d avg 4.08%. This rate has drifted modestly from its 30-day average.
Earn
ETH icon
WETH · KPK ETH Yield (V2)

ETH

Not a pick: it can pay out only $479K to depositors today; picks need $10M.

Yield vault
2.59%APY
Ethereum
30d avg 2.91%. This rate has held close to its 30-day average.
Earn
ETH icon
WETH · Galaxy WETH Quality (V2)

ETH

Not a pick: it can pay out only $1.8M to depositors today; picks need $10M.

Yield vault
1.79%APY
Ethereum
30d avg 2.14%. This rate has drifted modestly from its 30-day average.
Earn
ETH icon
WETH · Yearn OG WETH

ETH

Not a pick: it can pay out only $1.0M to depositors today; picks need $10M.

Yield vault
1.78%APY
Ethereum
30d avg 1.95%. This rate has held close to its 30-day average.
Earn
ETH icon
WETH · Steakhouse Prime ETH (V2)

ETH

Not a pick: it can pay out only $6.8M to depositors today; picks need $10M.

Yield vault
1.76%APY
Ethereum
30d avg 1.89%. This rate has held close to its 30-day average.
Earn
USDCTop 5 of 88. Every USDC rate

No USDC offer at grade B pays materially more than grade A’s 5.58% APY on Aave V3 over the same day, week and month.

USDC icon
Wintermute USDC Select (V2)

USDC

Yield vault
5.78%APY
Ethereum
30d avg 6.05%. This rate has held close to its 30-day average.
Earn
USDC icon
RockawayX USDC Yield (V2)

USDC

Yield vault
7.87%APY
Ethereum
30d avg 8.50%. This rate has held close to its 30-day average.
Earn
USDC icon
Gauntlet USDC Prime (V1)

USDC

Yield vault
4.51%APY
Base
30d avg 5.21%. This rate has held close to its 30-day average.
Earn
USDC icon
Grove x Steakhouse USDC (V2)

USDC

Yield vault
4.51%APY
Base
30d avg 5.23%. This rate has held close to its 30-day average.
Earn
USDC icon
Gauntlet USDC Prime (V2)

USDC

Yield vault
4.51%APY
Base
30d avg 5.23%. This rate has held close to its 30-day average.
Earn
USDTTop 5 of 19. Every USDT rate

The best USDT yield at grade B right now is 5.31% APY on Compound V3.

USDT icon
Smokehouse USDT

USDT

Yield vault
4.97%APY
Ethereum
30d avg 4.52%. This rate has held close to its 30-day average.
Earn
USDT icon
Steakhouse USDT

USDT

Yield vault
2.86%APY
Ethereum
30d avg 3.68%. This rate has drifted modestly from its 30-day average.
Earn
USDT icon
Steakhouse Prime USDT (V2)

USDT

Yield vault
3.01%APY
Ethereum
30d avg 3.92%. This rate has drifted modestly from its 30-day average.
Earn
Less proven below: each rate says what keeps it from being a pick. Why
USDT icon
Wintermute USDT Select (V2)

USDT

Not a pick: it can pay out only $1.9M to depositors today; picks need $10M.

Yield vault
6.14%APY
Ethereum
30d avg 5.91%. This rate has held close to its 30-day average.
Earn
USDT icon
USDT0 · StableEarn (V2)

USDT

Not a pick: it can pay out only $3.8M to depositors today; picks need $10M.

Yield vault
6.08%APY
Stable
30d avg 6.26%. This rate has held close to its 30-day average.
Earn
DAI3 rates

Among graded offers, the best DAI yield right now is 4.73% APY on sDAI (sDAI), at grade B.

DAI icon
USDS · sky.money USDS Flagship (V2)

DAI

Not a pick: it is paid mostly in incentive rewards, which last only while funded.

Yield vault
5.04%APY
Ethereum
incl. 3.90% temporary rewards: that part of the 5.04% rate is incentives a sponsor pays for now, not organic yield30d avg 4.96%. This rate has held close to its 30-day average.
Earn
DAI icon
USDS · sky.money USDS Risk Capital (V2)

DAI

Not a pick: it can pay out only $100K to depositors today; picks need $10M.

Yield vault
3.77%APY
Ethereum
30d avg 3.76%. This rate has held close to its 30-day average.
Earn
DAI icon
Gauntlet DAI Core

DAI

Not a pick: it is graded D, the highest risk.

Yield vault
7.57%APY
Ethereum
30d avg 6.81%. This rate has drifted modestly from its 30-day average.
Earn
PYUSD4 rates

Morpho’s 5.31% is the best PYUSD yield at grade C right now. At grade A, the best is 0.85% APY on SparkLend.

PYUSD icon
Paypal USD Main (V2)

PYUSD

Yield vault
5.31%APY
Ethereum
incl. 3.18% temporary rewards: that part of the 5.31% rate is incentives a sponsor pays for now, not organic yield30d avg 5.52%. This rate has held close to its 30-day average.
Earn
Less proven below: each rate says what keeps it from being a pick. Why
PYUSD icon
StableEarn Prime PYUSD (V2)

PYUSD

Not a pick: it has been tracked for under a month; picks need a month of steady rates.

Yield vault
9.00%APY
Stable
incl. 6.70% temporary rewards: that part of the 9.00% rate is incentives a sponsor pays for now, not organic yield
Earn
PYUSD icon
Sentora Huma PST Main (V2)

PYUSD

Not a pick: it can pay out only $3.2M to depositors today; picks need $10M.

Yield vault
6.57%APY
Ethereum
incl. 1.74% temporary rewards: that part of the 6.57% rate is incentives a sponsor pays for now, not organic yield30d avg 6.83%. This rate has held close to its 30-day average.
Earn
PYUSD icon
Sentora PRIME Main (V2)

PYUSD

Not a pick: it can pay out only $3.7M to depositors today; picks need $10M.

Yield vault
6.04%APY
Ethereum
incl. 2.19% temporary rewards: that part of the 6.04% rate is incentives a sponsor pays for now, not organic yield30d avg 6.16%. This rate has held close to its 30-day average.
Earn
RLUSD2 rates

Morpho’s 5.76% is the best RLUSD yield at grade B right now. At grade A, the best is 2.10% APY on SparkLend.

RLUSD icon
Sentora RLUSD Main (V2)

RLUSD

Yield vault
5.76%APY
Ethereum
incl. 2.90% temporary rewards: that part of the 5.76% rate is incentives a sponsor pays for now, not organic yield30d avg 6.06%. This rate has held close to its 30-day average.
Earn
RLUSD icon
Sentora x Spark RLUSD (V2)

RLUSD

Yield vault
0.12%APY
Ethereum
30d avg 0.16%. This rate has drifted modestly from its 30-day average.
Earn
USDG2 rates

Among graded offers, the best USDG yield right now is 0.44% APY on Orca DEX (USDG-USDC), at grade B.

USDG icon
Steakhouse USDG Pro (V2)

USDG

Not a pick: it is paid mostly in incentive rewards, which last only while funded.

Yield vault
7.04%APY
Arbitrum
incl. 4.50% temporary rewards: that part of the 7.04% rate is incentives a sponsor pays for now, not organic yield30d avg 7.89%. This rate has held close to its 30-day average.
Earn
USDG icon
Gauntlet USDG Premium (V2)

USDG

Not a pick: it is graded D, the highest risk.

Yield vault
7.03%APY
Arbitrum
incl. 4.50% temporary rewards: that part of the 7.03% rate is incentives a sponsor pays for now, not organic yield30d avg 7.90%. This rate has held close to its 30-day average.
Earn
AUSDTop 5 of 6. Every AUSD rate
AUSD icon
Y10k AUSD Vault (V2)

AUSD

Not a pick: it is graded D, the highest risk.

Yield vault
7.93%APY
Monad
incl. 4.27% temporary rewards: that part of the 7.93% rate is incentives a sponsor pays for now, not organic yield30d avg 7.86%. This rate has held close to its 30-day average.
Earn
AUSD icon
SharpByte AUSD Tori Ecosystem (V2)

AUSD

Not a pick: it is graded D, the highest risk.

Yield vault
7.50%APY
Monad
incl. 3.46% temporary rewards: that part of the 7.50% rate is incentives a sponsor pays for now, not organic yield30d avg 10.2%. This rate has drifted modestly from its 30-day average.
Earn
AUSD icon
Clearstar Accountable AUSD (V2)

AUSD

Not a pick: it is graded D, the highest risk.

Yield vault
6.27%APY
Monad
30d avg 7.09%. This rate has held close to its 30-day average.
Earn
AUSD icon
RockawayX infiniFi AUSD (V2)

AUSD

Not a pick: it is graded D, the highest risk.

Yield vault
5.96%APY
Monad
incl. 1.36% temporary rewards: that part of the 5.96% rate is incentives a sponsor pays for now, not organic yield30d avg 6.31%. This rate has held close to its 30-day average.
Earn
AUSD icon
Flowdesk AUSD RWA Strategy (V2)

AUSD

Not a pick: it is graded D, the highest risk.

Yield vault
5.06%APY
Ethereum
30d avg 7.35%. This rate has drifted modestly from its 30-day average.
Earn
HYPE2 rates

Among graded offers, the best HYPE yield right now is 1.89% APY on Kinetiq kHYPE (kHYPE), at grade B.

HYPE icon
wHYPE · Felix HYPE

HYPE

Not a pick: it can pay out only $765K to depositors today; picks need $10M.

Yield vault
0.63%APY
Hyperliquid L1
30d avg 0.59%. This rate has held close to its 30-day average.
Earn
HYPE icon
wHYPE · Felix HYPE V2 (V2)

HYPE

Not a pick: it can pay out only $759K to depositors today; picks need $10M.

Yield vault
0.63%APY
Hyperliquid L1
30d avg 0.59%. This rate has held close to its 30-day average.
Earn
APXUSD1 rate
APXUSD icon
Apyx apxUSD (V2)

APXUSD

Not a pick: it is graded D, the highest risk.

Yield vault
6.39%APY
Ethereum
30d avg 11.0%. This rate has swung well away from its 30-day average.
Earn
EURC5 rates

Among graded offers, the best EURC yield right now is 2.38% APY on Aave V3, at grade A.

EURC icon
Gauntlet EURC Balanced (V2)

EURC

Not a pick: it can pay out only $1.4M to depositors today; picks need $10M.

Yield vault
2.45%APY
Base
30d avg 3.44%. This rate has drifted modestly from its 30-day average.
Earn
EURC icon
Steakhouse EURC

EURC

Not a pick: it can pay out only $1.4M to depositors today; picks need $10M.

Yield vault
2.33%APY
Base
30d avg 3.54%. This rate has drifted modestly from its 30-day average.
Earn
EURC icon
Steakhouse Prime EURC (V2)

EURC

Not a pick: it can pay out only $1.4M to depositors today; picks need $10M.

Yield vault
2.32%APY
Base
30d avg 3.53%. This rate has drifted modestly from its 30-day average.
Earn
EURC icon
Steakhouse Prime EURC (V2)

EURC

Not a pick: it can pay out only $197K to depositors today; picks need $10M.

Yield vault
2.48%APY
Ethereum
30d avg 2.73%. This rate has held close to its 30-day average.
Earn
EURC icon
Gauntlet EURC Core

EURC

Not a pick: it can pay out only $305K to depositors today; picks need $10M.

Yield vault
2.19%APY
Ethereum
30d avg 2.43%. This rate has held close to its 30-day average.
Earn
EURE1 rate
KPK EURe Yield (V2)

EURE

Not a pick: it is paid mostly in incentive rewards, which last only while funded.

Yield vault
3.00%APY
Arbitrum
incl. 2.94% temporary rewards: that part of the 3.00% rate is incentives a sponsor pays for now, not organic yield30d avg 2.89%. This rate has held close to its 30-day average.
Earn

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