Key Metrics
Fees 30d$86.18m
Fees 30d by chain
Hyperliquid L1$86.18m
Fees 7d$20.92m
Hyperliquid L1$20.92m
Fees 24h$3.19m
Hyperliquid L1$3.19m
Cumulative Fees$1.65b
Hyperliquid L1$1.65b
Revenue 30d$66.8m
Revenue 30d by chain
Hyperliquid L1$66.8m
Revenue 7d$15.98m
Hyperliquid L1$15.98m
Revenue 24h$2.43m
Hyperliquid L1$2.43m
Cumulative Revenue$1.353b
Hyperliquid L1$1.353b
Holders Revenue 30d$66.8m
Holders Revenue 30d by chain
Hyperliquid L1$66.8m
Holders Revenue 7d$15.98m
Hyperliquid L1$15.98m
Holders Revenue 24h$2.43m
Hyperliquid L1$2.43m
Cumulative Holders Revenue$1.353b
Hyperliquid L1$1.353b
Perp Volume 30d$254.652b
Perp Volume 30d by chain
Hyperliquid L1$254.652b
Perp Volume 7d$68.522b
Hyperliquid L1$68.522b
Perp Volume 24h$10.144b
Hyperliquid L1$10.144b
Cumulative Perp Volume$5.739t
Hyperliquid L1$5.739t
Liquidation Volume 30d$2.753b
Liquidation Volume 30d by chain
Hyperliquid L1$2.753b
Liquidation Volume 7d$1.006b
Hyperliquid L1$1.006b
Liquidation Volume 24h$166.75m
Hyperliquid L1$166.75m
Cumulative Liquidation Volume$37.359b
Hyperliquid L1$37.359b
Open Interest$6.901b
Protocol Information
Hyperliquid is a Layer 1 blockchain best known for perpetual futures and spot trading. Beyond its flagship decentralized exchange (DEX), the ecosystem supports borrowing, lending, RWAs, and a full-fledged EVM.
Methodology
Fees: 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.View code on GitHubRevenue: 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees, plus Hyperliquid's 90% share of AQAv2 stablecoin reserve yield since 27 Aug 2026.View code on GitHubHolders Revenue: 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees, plus Hyperliquid's 90% share of AQAv2 stablecoin reserve yield since 27 Aug 2026.View code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubLiquidation Volume: Total USD notional of liquidated positions, from the `amountQuote` field of ClearingHouse `Liquidation` events.View code on GitHubHyperliquid Perps history
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $10.42m | $10.11m | $10.11m |
| Jan 2025 | $49.76m | $48.26m | $48.26m |
| Feb 2025 | $44.79m | $43.45m | $43.45m |
| Mar 2025 | $39.3m | $38.13m | $38.13m |
| Apr 2025 | $42.39m | $41.12m | $41.12m |
| May 2025 | $69.12m | $67.05m | $67.05m |
| Jun 2025 | $59.19m | $57.42m | $57.42m |
| Jul 2025 | $91.06m | $88.33m | $88.33m |
| Aug 2025 | $131.23m | $107.5m | $107.5m |
| Sep 2025 | $101.67m | $75.36m | $75.36m |
| Oct 2025 | $117.13m | $92.15m | $92.15m |
| Nov 2025 | $96.11m | $74.23m | $74.23m |
| Dec 2025 | $65.41m | $49.06m | $49.06m |
| Jan 2026 | $74.17m | $57.82m | $57.82m |
| Feb 2026 | $67.81m | $52.17m | $52.17m |
| Mar 2026 | $66.98m | $49.95m | $49.95m |
| Apr 2026 | $56.58m | $41.1m | $41.1m |
| May 2026 | $59.41m | $44.34m | $44.34m |
| Jun 2026 | $77.66m | $57.68m | $57.68m |
| Jul 2026 | $53.36m | $37.32m | $37.32m |
| Aug 2026 | $74.95m | $59.51m | $59.51m |
| Sep 2026 | $88.1m | $72.06m | $72.06m |
| Oct 2026 | $84.82m | $67.13m | $67.13m |
| Nov 2026 (to date) | $28.09m | $21.52m | $21.52m |
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-perps
Frequently asked questions
What chains does Hyperliquid Perps operate on?
Hyperliquid Perps operates on Hyperliquid L1.
How much has Hyperliquid Perps generated in fees and revenue?
Over the past 30 days, Hyperliquid Perps generated $86.18m in fees. Of that, $66.8m was protocol revenue. Based on the trailing year, the annualized rate is $859.86m in fees and $658.04m in revenue.
How does Hyperliquid Perps' TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Hyperliquid Perps ranks #343 by TVL. The category holds $1.794b across 422 protocols, and Hyperliquid Perps accounts for 0% of that total. Similar protocols include Hyperliquid HLP, Papertrade, Bounce.Tech, Derive V2, Hyper Tokens, SIR, Jupiter Perpetual Exchange, GMX EVM, Lighter Robinhood Perps, and Lighter LLP.
How much perpetual futures volume does Hyperliquid Perps process?
Hyperliquid Perps processed $254.652b in perpetual futures volume over the past 30 days.