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Fees fell 17.7% weekly, yet Tether generated $16.7M daily: what explains the gap?Allocate $25K across Uniswap and Aave for 30 days based on fee trends—which gets more?Chart Tether, Circle, and Polymarket fees over 90 days; which leader is gaining share?Pump trades at 1.2x P/F while Hyperliquid sits at 18.9x: what drives the valuation gap?Enter Pump now or wait for Hyperliquid, using recent fees to compare their momentum?

As of Nov 12, 2026, fees across all chains totaled $64.24m in the last 24 hours and $467.77m in the last 7 days; the largest protocols are Tether ($16.72m), Circle ($6.71m) and Polymarket ($3.85m).

Fees (24h)

as of Nov 12, 2026

$64.24m

Fees (30d)$2.198b

Weekly Change-18.68%

Top gainers (7d)

See all

Central City$1.12m+476%

Venice$623,524+299%

JustLend$894,969+194%

Top losers (7d)

See all

Flashbots$2.44m-92.24%

Titan Builder$2.66m-90.16%

Ethereum$2.4m-80.99%

Combined

DWMQYC

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AllGainersLosers

6Columns93Category.csv

Name	Category	Definition	Fees 24h	Fees 7d	Change 7d	Fees 30d
Tether1 chain	Stablecoin Issuer	Asset yields from USDT backing investments: US Treasury Bills and other fixed-income assets like repos, commercial paper, money market funds and secured loans	$16.72m	$116.68m	-1.16%	$514m
Circle20 chains	Stablecoin Issuer	USYC: All yields are generated from USYC backing assets. USDC: All yields from USDC backing cash-equivalent assets, and US Treasury Bills. CCTP: Fast transfer fees(0-14 BPs) and forward fees charged by CCTP. Gateway: Includes transfer fees, gas fees and transaction fees, exact breakdown isn't available onchain	$6.71m	$46.99m	-1.02%	$205.94m
Polymarket2 chains	Prediction Market	International: Users pay fees when they trade binary options on polymarket. US: Taker fees computed as Θ × C × p × (1 - p), where C is contracts and p is trade price. Θ = 0.0695 from 11:59 PM ET 2026-09-16, Θ = 0.06 from 12:00 AM ET 2026-07-01, Θ = 0.05 from 2026-04-04, flat 1% from 2026-01-09 to 2026-04-03. Table Tennis markets pay Θ = 0.10 from 10:00 AM ET 2026-10-07 until 1:00 PM ET 2026-11-06. From 1:00 PM ET 2026-11-06 Θ is set per account by trailing 30-day taker volume (0.095 below $10k down to 0.0695 at $250k+); the public trade files carry no account, so the lowest tier (0.0695) is applied to every trade and fees from that date are a lower bound. Combo trades (launched 2026-08-11) use the same formula until 11:59 PM ET 2026-09-24, then pay C × p × [Θ × (1 - p) + k × (1 - p)^4], with k = 0.04, raised to 0.06 from 10:00 AM ET 2026-10-01, to 0.085 from 10:00 PM ET 2026-10-28 and back to 0.06 from 1:00 PM ET 2026-11-11. Revenue breakdowns are not available due to lack of per-trader volume data. Combos: Taker fees paid on combo position trades	$3.85m	$31.66m	-2.81%	$133.49m
Ethena1 chain	Basis Trading	Staking rewards + yield distribution + mint fees + extra fees	$3.75m	$4.43m	+4.30%	$17.25m
Pump5 chains	Dexs	pump.fun: Bonding-curve trade fees paid by users (pump's slice + creator/cashback slice), graduation fees, Mayhem-mode fees, and the app fee on pump.fun website trades. Swap: Total fees collected from all sources, including LP fees (0.20%) and protocol fees (0.05%) and coin creator fees (0.05%) from each trade. Terminal: Trading fees paid by users while using Pump Trading Terminal(previously known as Padre). pump.fun Mobile App: 0.45% app fee paid on pump.fun mobile app trades. pump.fun Perps: Actual builder-code fees paid on Hyperliquid perpetual trades carrying the Pump.fun builder code; excludes Hyperliquid exchange fees and bridge fees	$3.74m	$23.45m	-22.43%	$136.23m
Hyperliquid1 chain	Derivatives	HLP: 1% of perp and spot trading revenue (after builder code fees, maker rebates, HIP-3 deployer and unit revenue) share for HLP. Perps: Include perps trading fees on crypto and HIP-3 deployed markets + builders fees, plus Hyperliquid's 90% share of cost-adjusted reserve yield from AQAv2 stablecoin deployers since 27 Aug 2026, excluding all spot fees. Spot Orderbook: Include spot trading fees (builder code fees included), unit protocol fees, and HYPE burned in successful HIP-1 token-deployment auctions, excluding perps fees. Outcomes: Fees users pay when closing or settling HIP-4 outcome positions, including builder-code fees added by front-ends. Hyperliquid charged no outcome fee of its own before 15 Aug 2026	$2.93m	$19.77m	-21.00%	$89.58m
Uniswap50 chains	Dexs	V1, V2: User pays 0.3% fees on each swap. V3: Swap fees from paid by users. V4: Swap fees paid by users, excluding wash trading and swaps settled with no tokens changing hands	$1.92m	$13.59m	-45.53%	$76.17m
Aave22 chains	Lending	V2: Include borrow interest, flashloan fee, liquidation fee and penalty paid by borrowers. V3: Include borrow interest, flashloan fee, liquidation fee, penalty paid by borrowers, swap fees from the Aave frontend (Paraswap, then CoW Swap), and Chainlink SVR (MEV recapture from Ethereum liquidations). V4: Borrow interest paid by borrowers plus protocol share of liquidation bonuses	$1.36m	$9.4m	-13.44%	$39.56m
Lido1 chain	Liquid Staking	Staking rewards earned by all ETH staked with Lido: consensus-layer validator rewards plus execution-layer rewards (priority fees and MEV), as booked by each daily oracle report	$1.34m	$10.38m	-47.55%	$55.77m
Fragment1 chain	NFT Marketplace	All TON and USDT payments received by Fragment wallets, excluding Telegram-controlled wallet flows and inter-Fragment wallet transfers. Covers: Telegram Stars, Ads, Premium, Gift Market, Gateway, username auctions, and Telegram Gifts. Bids passing through the Telegram Usernames NFT collection on their way to the auction contracts are not counted; what reaches a Fragment wallet afterwards is: the whole winning bid on a primary sale, the 5% royalty on a resale	$1.31m	$8.13m	+12.05%	$27.1m
Morpho31 chains	Lending	Blue: Total borrow interest paid by borrowers + liquidation bonues earned by liquidators. Midnight: Total borrow interest paid by borrowers: for every trade, the face value of the debt (units) minus the loan tokens the borrower received (sellerAssets), i.e. the fixed-rate discount locked in at execution	$1.31m	$8.33m	+17.20%	$28.5m
Meteora1 chain	Dexs	DAMM V1: Swap fees paid by traders — each pool's trade fee applied to its volume. DLMM: Swap fees paid by traders in DLMM pools, valued at the time of each swap. DAMM V2: Gross swap fees paid by traders (LP fees + protocol fees + referral fees). Dynamic Bonding Curve: Trading fees paid by users	$1.15m	$4.86m	-13.71%	$23.66m
Chainlink6 chains	Services	Requests: Sum of all fees from Chainlink Requests,Chainlink Keepers,Chainlink VRF V1,Chainlink VRF V2,Chainlink CCIP. Staking: All the tokens received by the fee aggregator contract	$1.06m	$1.12m	+1.19%	$4.46m
Hyper Foundation HYPE Staking1 chain	Staking Pool	Total staking rewards by running validators on Hyperliquid	$915,122	$6.73m	-12.84%	$30.63m
Sky1 chain	CDP	Lending: Stability fees charged on DAI/USDS loans, liquidation income from collateral auctions, and PSM (Peg Stability Module) fees from USDC/DAI conversions. Money: Total yields from deposited assets in all curated vaults	$839,057	$5.9m	-9.31%	$27.7m
Tron1 chain	Chain	Gas fees paid by users	$765,842	$5.38m	-17.47%	$24.72m
Spark2 chains	Onchain Capital Allocator	Lend: Include borrow interest, flashloan fee, liquidation fee and penalty paid by borrowers. Liquidity Layer: Yield the Spark Liquidity Layer earns on the USDS it borrows from Sky (its parent ecosystem) and deploys into lending markets, vaults and pools, after each venue's own cut (for SparkLend, its reserve factor)	$690,680	$4.85m	-2.79%	$20.7m
Binance staked ETH2 chains	Liquid Staking	Total validators fees and rewards from staked ETH	$682,850	$4.23m	-23.12%	$19.41m
Axiom Pro8 chains	Trading App	Axiom: Every trading fee Axiom users pay, measured as the SOL that lands in Axiom's fee wallets on swaps routed through Axiom, plus the referral payouts users later claim from referral vaults (funded inside the swap). Cashback is paid from the fee wallets, so it is already included. On its EVM chains it is the native token the trade contracts pay into Axiom's fee distributors. Axiom Perps: Builder Code Fees paid by users for perps	$671,332	$3.78m	-8.05%	$20.15m
Paxos2 chains	Stablecoin Issuer	Gold: Fees paid by users while transferring PAXG token. Stablecoin Issuer: Yields from various stablecoins backing assets (Tbills, money market funds, repurchase agreements) issued by Paxos	$612,014	$4.23m	-6.33%	$19.4m
Grayscale1 chain	RWA	Management fees paid by ETP holders	$505,424	$3.69m	-3.60%	$16.78m
Solana1 chain	Chain	Transaction fees paid by users	$500,869	$3.12m	-6.30%	$16.89m
Papertrade1 chain	Derivatives	2% fee on realized PnL at close, 2% fee on margin lost in liquidations, and LP profits above the $5M cap swept to PAPER stakers. Trader wins and losses that stay in the LP are not counted	$486,261	$3.63m	-3.05%	$41.5m
trade[XYZ]1 chain	Interface	Trading fees paid by users on Hyperliquid markets deployed by Trade.xyz	$486,218	$2.77m	+14.12%	$9.73m
ether.fi3 chains	Liquid Staking	Stake: Total rewards generated from ether.fi staking services: ETH staking, Eigenlayer restaking, validator operations. Liquid: Total rewards generated from ether.fi liquid vaults: management fees and staking rewards on vault holdings. EtherFi Borrowing Market: Total borrow interest generated from EtherFi Cash services on Scroll and OP Mainnet, including Cash borrows on the Aave V4 instance ether.fi operates, since 2026-08-04. EtherFi Cash Liquid: Estimated 1.38% transaction fee on EtherFi Cash card spending, plus cashback paid to card users	$460,981	$3.05m	-21.33%	$13.93m
Flap sh4 chains	Launchpad	Protocol revenue (quote tokens received by the Flap fee Safe, including wrapped-native transfers such as WBNB) plus token-tax amounts routed to marketing/vault recipients and token-holder dividends	$458,622	$3.43m	-18.93%	$19.8m
Jupiter1 chain	Derivatives	Aggregator: Jupiter platform fees on swaps routed through Jupiter, including its share of positive slippage. Perpetual Exchange: Trading, swap, borrow, liquidation and JLP mint/burn fees paid by users, plus staking rewards on the pool's SOL and JLP Loans interest. Ape Jupiter: Token trading and launching fees. Staked SOL: Staking rewards, Jito MEV tips and Jupiter validator priority fees earned by the jupSOL pool, Jupiter's validator commission on the pool's stake, plus deposit and withdrawal fees. DCA: Fees paid by users on DCA (recurring) orders. Studio: Trading fees paid by users on Jup Studio bonding curves, and the fees Jupiter's LP position earns in graduated Meteora DAMM v2 pools, counted when claimed. Lend: All interest paid by borrowers from all markets. Prediction: Trading fees paid by users on prediction market buys and sells through Jupiter, including Combos, plus the 1% Arcade fee on winnings. JupUSD: Yield earned on JupUSD reserves and fees paid to mint and redeem JupUSD. Limit: Fees paid by users on limit orders. z: Fees on JupiterZ RFQ fills, charged to market makers and, on v2, to takers. Offerbook: Borrow interest paid by borrowers as it accrues, plus loan origination, repayment and collateral claim fees. Lend DEX: Swap fees paid by traders on Jupiter Lend DEX pools. YOLO: 2% fee on the profit of every winning trade, taken from the payout. Opening, losing trades and liquidations are free. The house bankroll's trading profit is not counted. Native Staking: Fees earned by Jupiter's validators on native stake: inflation commission, priority fees and MEV passed to stakers. Stakers' inflation rewards are not counted. VRFD: Fees paid for token verification and metadata updates, retail and enterprise. Developer Platform: Fees developers pay for Jupiter API access, and Jupiter's share of fees settled for integrators. Rent Reclaim: Jupiter's 2% cut of the rent returned to users when their empty token accounts are closed. Vaults: Fees paid by vault depositors: instant and queued exit fees, performance fees and management fees, read from the program's events. Interest earned by vault deposits is counted in the Jupiter Lend and Jupiter Offerbook adapters, so it is not repeated here	$423,945	$3.8m	-28.10%	$17.99m
BSC1 chain	Chain	Transaction fees paid by users	$421,142	$2.67m	+14.02%	$11.8m
Titan Builder1 chain	Block Builders	Total transactions fees and MEV rewards collected by building blocks on Ethereum blockchain	$400,572	$2.66m	-90.16%	$32.99m
Raydium1 chain	Dexs	AMM: Total trading fees collected from users across all pool types. LaunchLab: All fees deducted from trades on the bonding curves: Raydium's protocol fee, the launch platform's fee and the token creator's fee, denominated in each pool's quote token	$399,945	$3.59m	+19.45%	$13.01m
Ethereum1 chain	Chain	Total ETH gas fees (base fees + priority fees) plus blob fees (post-EIP-4844, type-3 blob-carrying transactions) paid by users	$368,073	$2.4m	-80.99%	$19.99m
Aero16 chains	Dexs	Velodrome V1: Token swap fees paid by users. Velodrome V2: Per-pool swap fee read from PoolFactory.getFee (default vAMM 0.30% / sAMM 0.05%, customizable per pool) applied to each swap, plus external bribes deposited by third parties to voter-incentive contracts. drome V1, drome Slipstream: Swap fees paid by traders, plus bribes deposited for veAERO voters until voting ended with the Aero upgrade on 2026-10-22. Velodrome V3: Total swap fees paid by users. Slipstream, Basic: Swap fees paid by traders, plus bribes paid to the protocol to attract AERO Rewards to pools	$356,978	$2.3m	-2.55%	$10.08m
Relay58 chains	Cross Chain Bridge	Platform fees, integrator app fees and swap costs paid by users on Relay bridges and swaps, excluding execution costs (network gas)	$354,405	$2.24m	-29.93%	$16.3m
fomo9 chains	Trading App	Wallet: Trading fees paid by FOMO users on native Solana swaps and on cross-chain trades via Relay, attributed to the chain the trade settled on (Robinhood Chain, Base, BNB Chain, Ethereum, Arc, Monad, Elysium). Relay fees FOMO cannot attribute to a chain are counted on Solana. Perps: Builder code revenue from Hyperliquid Perps Trades. Spot: Builder-code fees paid by users on Hyperliquid spot trades placed through the builder code. Outcome: Builder-code fees paid by users on Hyperliquid HIP-4 outcome trades placed through the builder code	$346,214	$2m	-9.80%	$9.87m
World Liberty Financial1 chain	Lending	All yields from USD1 backing assets investments (Fidelity money market funds)	$307,103	$2.27m	-9.88%	$10.88m
Lunar Lander1 chain	Transaction Execution	SOL tips traders pay to land transactions through Lunar Lander, at the tip accounts in Hello Moon's docs plus the 100 accounts that receive Axiom users' bribes (published by Circular and confirmed on-chain to be landed by Lunar); revenue is not reported because what Lunar pays validators and order-flow partners happens off-chain	$296,674	$1.61m	-10.98%	$9.26m
PancakeSwap12 chains	Dexs	AMM: All fees comes from the user. StableSwap: Total swap fees charged to traders, using each pool's on-chain fee rate. AMM V3: Total trading fees - sum of LP fees and protocol fees. LP fees vary by pool type (0.25% for most pools, with some special pools having different rates). Protocol fees are 0.05% for most pools. Infinity: Total swap fees paid by users. Prediction: 3% of each round's total pot, counting both the winning and the losing stakes, taken when the round settles. When a round ends with nobody to pay out - the price finishes exactly where it started, or every bet was on the losing side — the whole pot goes to the treasury instead. Lottery: 20% of the lottery amount goes to CAKE buy-back and burn	$288,345	$2.19m	-25.47%	$10.64m
GMGN11 chains	Trading App	All trading fees paid by users while using GMGN AI bot (1% per trade), collected in both the native gas token and USDC, tracked via Dune. Solana = native-SOL + USDC inflows to the fee wallets; EVM = native gas-token + USDC inflows to the fee collector	$275,907	$1.52m	-1.25%	$8.21m
Curve Finance21 chains	Dexs	Curve DEX: Swap and liquidity fees charged by Curve pools, plus bribes paid to veCRV voters. Fee rates are set per pool - around 0.01%-0.04% on stable pools and up to a few percent on volatile pools. crvUSD: All borrow interest paid by borrowers. Curve LlamaLend, Curve LlamaLend V2: Total borrow interest paid by borrowers plus AMM swap fees from LLAMMA liquidation AMMs	$273,979	$2.15m	-11.97%	$6.44m
Ripple USD1 chain	Stablecoin Issuer	All yields from RLUSD backing assets (U.S. Treasury bills and government money-market funds)	$271,294	$1.85m	+6.70%	$7.5m
Spiko7 chains	RWA	Net NAV growth from Spiko funds (USTBL/EUTBL/UKTBL/SPKCC/eurSPKCC and the SAFO Amundi Overnight Swap funds) distributed to holders, plus Spiko's annual management fee. The published NAV is already net of fees, so the management fee is added on top to reconstruct gross fees	$267,562	$1.76m	-0.97%	$12.54m
Jito1 chain	MEV	Liquid Staking: Staking rewards from staked SOL on jito staked solana. Jito MEV tips claimed by the pool are counted in Jito MEV Tips, under the same parent. MEV Tips: MEV/tips paid by users/searchers. DAO: Fee accrued to the Jito DAO (JitoSOL Stake Pool Fees including 4% of staking rewards, Interceptor Fees, Tip Router Fees, BAM Fees, 80% of JTX platform fees)	$262,793	$1.8m	-3.18%	$8.37m
Steakhouse Financial8 chains	Risk Curators	Total yields from deposited assets in all curated vaults	$257,199	$1.91m	+6.25%	$7.42m
Securitize14 chains	RWA	BlackRock BUIDL: Total yields generated from the fund's underlying assets (U.S. Treasuries and repo agreements) plus the management fees charged by BlackRock. Apollo Diversified Credit Securitize Fund: Increase yields calculated from ACRED price change and 0.5% management fees. VanEck Treasury Fund: Increase yields calculated from VBill daily yield percentage and 0.2% management fees. Blockchain Capital: Includes 2.5% management fees collected by the protocol. Hamilton Lane Senior Credit Opportunities Securitize Fund: Includes yields calculated from HLSCOPE price change and 2% management fees. Mantle Index Four Fund: 1% total deposited assets charged as management fees annually. Tokenized AAA CLO Fund: Increase yields calculated from STAC CLO price change and 0.3% management fees	$256,798	$2.32m	-19.59%	$11.12m
Sanctum1 chain	Liquid Staking	Reserve: Reserve + Router fees. Infinity: Total Infinity fees (LPs + Sanctum). Validator LSTs: Staking rewards + withdrawal/deposit fees from Sanctum LSTs	$256,024	$1.87m	-8.59%	$8.28m
Ondo Finance11 chains	RWA	The daily yield earned by USDY and OUSG holders, calculated as each token's price increase over the day times the amount of tokens in circulation	$243,826	$1.73m	-5.38%	$7.74m
Flashbots1 chain	MEV	Total ETH fees paid to block proposers by users	$243,664	$2.44m	-92.24%	$36.99m
NEAR Protocol2 chains	Bridge	NEAR Intents: Gross fees charged on NEAR Intents swaps - the protocol fee plus the affiliate (distribution) fee each frontend collects, summed across all integrators. Near Perps: Builder code revenue from Hyperliquid Perps Trades	$237,330	$1.67m	+12.47%	$6.1m
Predict Fun1 chain	Prediction Market	Trading fees charged on prediction market trades. Fees are collected in the taker token; non-USDT tokens are converted to USD using the trade price at the relevant hour	$236,690	$1.37m	-17.01%	$8m
GMX4 chains	Derivatives	V1 EVM: Fees from open/close position (0.1%), swap (0.2% to 0.8%), mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%). EVM: Fees from opening/closing perpetual positions, borrowing fees, swap fees, liquidation fees, and positive price impact distributed from the impact pool, decoded from EventEmitter logs. Solana: Opening/closing fees for perpetual positions, swap fees, liquidation fees, and borrowing fees	$233,004	$922,606	-26.38%	$4.71m