Total Value Locked$173.97m
TVL by Chain
Hyperliquid L1$173.97m
Key Metrics
Fees 30d$475,942
Fees 30d by chain
Hyperliquid L1$475,942
Fees 7d$110,829
Hyperliquid L1$110,829
Fees 24h$9,030
Hyperliquid L1$9,030
Cumulative Fees$23.58m
Hyperliquid L1$23.58m
Revenue 30d$0
Revenue 30d by chain
Hyperliquid L1$0
Revenue 7d$0
Hyperliquid L1$0
Revenue 24h$0
Hyperliquid L1$0
Cumulative Revenue$0
Hyperliquid L1$0
Protocol Information
Hyperliquidity Provider (HLP) is a protocol vault that provides liquidity to Hyperliquid through multiple market making strategies, performs liquidations, supplies USDC in Earn, and accrues a portion of trading fees. HLP democratizes strategies typically reserved for privileged parties on other exchanges. HLP is fully community-owned.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: 1% of perp and spot trading revenue (after builder code fees, maker rebates, HIP-3 deployer and unit revenue) share for HLP.View code on GitHubRevenue: No revenue.View code on GitHubYields
Pools Tracked1
Average Supply APY3.88%
Competitors
Hyperliquid HLP history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Dec 1, 2024 to Oct 26, 2026.
All-time high TVL: $609.4m on Aug 31, 2025. All-time low TVL: $148.23m on Apr 9, 2025.
Daily TVL, Sep 27, 2026 to Oct 26, 2026
| Date | TVL |
|---|---|
| Sep 27, 2026 | $182.87m |
| Sep 28, 2026 | $182.7m |
| Sep 29, 2026 | $183.07m |
| Sep 30, 2026 | $182.94m |
| Oct 1, 2026 | $182.92m |
| Oct 2, 2026 | $183.05m |
| Oct 3, 2026 | $182.97m |
| Oct 4, 2026 | $182.32m |
| Oct 5, 2026 | $181.62m |
| Oct 6, 2026 | $181.55m |
| Oct 7, 2026 | $180.67m |
| Oct 8, 2026 | $180.11m |
| Oct 9, 2026 | $179.65m |
| Oct 10, 2026 | $180.8m |
| Oct 11, 2026 | $180.35m |
| Oct 12, 2026 | $180.2m |
| Oct 13, 2026 | $181.29m |
| Oct 14, 2026 | $180.15m |
| Oct 15, 2026 | $179.81m |
| Oct 16, 2026 | $179.18m |
| Oct 17, 2026 | $177.75m |
| Oct 18, 2026 | $178.11m |
| Oct 19, 2026 | $179.37m |
| Oct 20, 2026 | $179.02m |
| Oct 21, 2026 | $178.16m |
| Oct 22, 2026 | $177.33m |
| Oct 23, 2026 | $177.09m |
| Oct 24, 2026 | $177.1m |
| Oct 25, 2026 | $175.3m |
| Oct 26, 2026 | $175.19m |
TVL at each month end, Dec 2024 to Oct 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $398.65m |
| Jan 31, 2025 | $401.61m |
| Feb 28, 2025 | $508.69m |
| Mar 31, 2025 | $177.36m |
| Apr 30, 2025 | $199.84m |
| May 31, 2025 | $378.1m |
| Jun 30, 2025 | $385.12m |
| Jul 31, 2025 | $382.65m |
| Aug 31, 2025 | $609.4m |
| Sep 30, 2025 | $429.7m |
| Oct 31, 2025 | $588.51m |
| Nov 30, 2025 | $448.24m |
| Dec 31, 2025 | $336.22m |
| Jan 31, 2026 | $252.94m |
| Feb 28, 2026 | $382.11m |
| Mar 31, 2026 | $463.4m |
| Apr 30, 2026 | $371.59m |
| May 31, 2026 | $356.98m |
| Jun 30, 2026 | $268.73m |
| Jul 31, 2026 | $222.9m |
| Aug 31, 2026 | $187.99m |
| Sep 30, 2026 | $182.94m |
| Oct 26, 2026 (latest) | $175.19m |
Fees and revenue by UTC calendar month, Dec 2024 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Dec 2024 | $280,842 | $0 |
| Jan 2025 | $1.52m | $0 |
| Feb 2025 | $1.01m | $0 |
| Mar 2025 | $1.04m | $0 |
| Apr 2025 | $1.29m | $0 |
| May 2025 | $2.13m | $0 |
| Jun 2025 | $1.84m | $0 |
| Jul 2025 | $2.81m | $0 |
| Aug 2025 | $3.48m | $0 |
| Sep 2025 | $861,386 | $0 |
| Oct 2025 | $983,544 | $0 |
| Nov 2025 | $784,648 | $0 |
| Dec 2025 | $517,211 | $0 |
| Jan 2026 | $605,585 | $0 |
| Feb 2026 | $545,413 | $0 |
| Mar 2026 | $520,275 | $0 |
| Apr 2026 | $427,840 | $0 |
| May 2026 | $467,932 | $0 |
| Jun 2026 | $605,778 | $0 |
| Jul 2026 | $388,064 | $0 |
| Aug 2026 | $517,498 | $0 |
| Sep 2026 | $562,354 | $0 |
| Oct 2026 (to date) | $402,830 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/hyperliquid-hlp
Frequently asked questions
What is Hyperliquid HLP's TVL?
As of Oct 26, 2026, Hyperliquid HLP has $173.97m in total value locked. TVL has decreased 4.8% over the past 30 days.
What chains does Hyperliquid HLP operate on?
Hyperliquid HLP operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.
How much has Hyperliquid HLP generated in fees and revenue?
Over the past 30 days, Hyperliquid HLP generated $475,942 in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $6.52m in fees.
How does Hyperliquid HLP's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Hyperliquid HLP ranks #3 by TVL. The category holds $1.972b across 425 protocols, and Hyperliquid HLP accounts for 8.8% of that total. Similar protocols include Papertrade, Bounce.Tech, Derive V2, SIR, Racks, Jupiter Perpetual Exchange, GMX EVM, Lighter Robinhood Perps, Extended Perps, and Lighter LLP.
How many yield pools does Hyperliquid HLP have?
DefiLlama tracks 1 Hyperliquid HLP yield pool with an average APY of 3.9%.