Overview
Every live Merkl reward campaign · 13 Nov 2026Live campaigns711across 32 chains
Rewards paid per day$817K$298M a year at today's rate
Followed after it ends71%of daily reward spend
Endings recorded160campaign endings recorded
Where the reward spend goes
by share of yield from rewardsAt least 40% of today's reward spend goes to positions that earn at least 90% of their yield from rewards.
Rewards ≥ 90% of yield$326K40% of spend
50–90%$158K19% of spend
Under 50%$130K16% of spend
Not classified$202K25% of spend
Share of yield from rewards = reward APR ÷ (reward APR + the pool's own APR). How we measure it
By venue
All venues →What stayed after rewards ended
Endings →Vantra has recorded 160 campaign endings; 21 can be measured.
The first 7-day results were due on 10 Nov 2026 and are being measured. A median is published once 5 endings have a 30-day result (0 so far).
Deposits in the rewarded market or vault, not only the depositors who claimed rewards.
Largest deposits with rewards ending soon
All campaigns by end date →| Campaign | Rewards a day | Ends in |
|---|---|---|
Lend USDe on Aave (looping required)Ethereum · Aave | $82K | 7 days |
Lend USDe on Aave (looping required)Plasma · Aave | $72K | 7 days |
Supply to Sentora RLUSD Main V2 vault on Morpho on EthereumEthereum · Morpho | $33K | 6 days |
Deposit USDe as collateral on USDe/USDC 91.5%Base · Morpho | $52K | 7 days |
Deposit USDe as collateral on USDe/USDG 91.5%Robinhood Chain · Morpho | $52K | 7 days |
$616K a day of rewards is in reward periods ending in the next 14 days. Many are weekly periods that get renewed. Vantra does not count an ending that is renewed within 30 days; for the rest it reports how much of the deposits stayed 7 and 30 days later.
Largest campaigns today
All 711 campaigns →| Campaign | Rewards a day | Ends in |
|---|---|---|
Lend USDe on Aave (looping required)Ethereum · Aave | $82K | 7 days |
Lend USDe on Aave (looping required)Plasma · Aave | $72K | 7 days |
Deposit USDe as collateral on USDe/USDC 91.5%Base · Morpho | $52K | 7 days |
Deposit USDe as collateral on USDe/USDG 91.5%Robinhood Chain · Morpho | $52K | 7 days |
[Robinhood Users Only] Supply to Steakhouse USDG V2 vault on MorphoRobinhood Chain · Morpho | $41K | 230 days |
Supply to Paypal USD Main V2 vault on Morpho on EthereumEthereum · Morpho | $34K | 6 days |
Supply to Sentora RLUSD Main V2 vault on Morpho on EthereumEthereum · Morpho | $33K | 6 days |
| $27K | 56 days |