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Hyperliquid(HYPE)

Total Value Locked$7.142b

TVL by Chain

Hyperliquid L1$6.742b

Arbitrum$399.65m

Key Metrics

Fees 30d$85.87m
Fees 30d by chain

Hyperliquid L1$85.87m

Fees 7d$17.89m

Hyperliquid L1$17.89m

Fees 24h$2m

Hyperliquid L1$2m

Cumulative Fees$1.654b

Hyperliquid L1$1.654b

Revenue 30d$69.75m
Revenue 30d by chain

Hyperliquid L1$69.75m

Revenue 7d$14.39m

Hyperliquid L1$14.39m

Revenue 24h$1.7m

Hyperliquid L1$1.7m

Cumulative Revenue$1.339b

Hyperliquid L1$1.339b

Holders Revenue 30d$69.75m
Holders Revenue 30d by chain

Hyperliquid L1$69.75m

Holders Revenue 7d$14.39m

Hyperliquid L1$14.39m

Holders Revenue 24h$1.7m

Hyperliquid L1$1.7m

Cumulative Holders Revenue$1.339b

Hyperliquid L1$1.339b

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$696.03m

Earnings 30d$69.75m

Earnings 7d$14.39m

Earnings 24h$1.7m

Cumulative Earnings$1.339b

DEX Volume 30d$4.479b
DEX Volume 30d by chain

Hyperliquid L1$4.479b

DEX Volume 7d$872.52m

Hyperliquid L1$872.52m

DEX Volume 24h$127.51m

Hyperliquid L1$127.51m

Cumulative DEX Volume$170.676b

Hyperliquid L1$170.676b

DEX Notional Volume 30d$79.03m
DEX Notional Volume 30d by chain

Hyperliquid L1$79.03m

DEX Notional Volume 7d$21.24m

Hyperliquid L1$21.24m

DEX Notional Volume 24h$8.68m

Hyperliquid L1$8.68m

Cumulative DEX Notional Volume$537.62m

Hyperliquid L1$537.62m

Perp Volume 30d$199.813b
Perp Volume 30d by chain

Hyperliquid L1$199.813b

Perp Volume 7d$42.544b

Hyperliquid L1$42.544b

Perp Volume 24h$3.901b

Hyperliquid L1$3.901b

Cumulative Perp Volume$5.486t

Hyperliquid L1$5.486t

Liquidation Volume 30d$1.511b
Liquidation Volume 30d by chain

Hyperliquid L1$1.511b

Liquidation Volume 7d$431.22m

Hyperliquid L1$431.22m

Liquidation Volume 24h$22.14m

Hyperliquid L1$22.14m

Cumulative Liquidation Volume$34.606b

Hyperliquid L1$34.606b

Open Interest$7.861b

Market Cap$18.744b

$HYPE Price$84.28

All Time High$97.96

All Time Low$3.81

View $HYPE token page

Fully Diluted Valuation$80.498b

Outstanding FDV$32.944b

$HYPE Volume 24h$595.58m

CEX Volume$159.52m

DEX Volume$495.25m(83.15% of total)

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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.

WebsiteGitHubX/Twitter
Categories:BridgeDerivativesDexsPrediction Market
Products:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Hyperliquid HLP - 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 GitHubHyperliquid Perps - Include perps trading fees on crypto and HIP-3 deployed markets + builders fees, excluding all spot fees.View code on GitHubHyperliquid 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.View code on GitHubHyperliquid 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.View code on GitHub

Revenue:

Hyperliquid HLP - No revenue.View code on GitHubHyperliquid Perps - 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees.View code on GitHubHyperliquid Spot Orderbook - 97% of spot trading fees before 30 Aug 2025 and 99% thereafter, after builder code fees and maker rebates, go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees; HYPE paid in successful HIP-1 token-deployment auctions is burned.View code on GitHubHyperliquid Outcomes - 99% of outcome fees net of builder-code fees, sent to the Assistance Fund to buy HYPE.View code on GitHub

Holders Revenue:

Hyperliquid HLP - Fees going to governance token holdersView code on GitHubHyperliquid Perps - 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees.View code on GitHubHyperliquid Spot Orderbook - 97% of spot trading fees before 30 Aug 2025 and 99% thereafter, after builder code fees and maker rebates, go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees; HYPE paid in successful HIP-1 token-deployment auctions is permanently burned.View code on GitHubHyperliquid Outcomes - 99% of outcome fees net of builder-code fees, used by the Assistance Fund to buy back HYPE.View code on GitHub

DEX Volume: Volume of all spot token swaps on the DEX

Notional Volume: Notional volume of all trades on protocol

Perp Volume: Notional volume of all trades including leverage on the perp exchange

Liquidation Volume: USD value of positions liquidated by the protocol

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Frequently asked questions

What is Hyperliquid's TVL?

Hyperliquid currently has $7.142b in total value locked. TVL has increased 5.8% over the past 30 days.

What chains does Hyperliquid operate on?

Hyperliquid operates on 2 chains: Hyperliquid L1 and Arbitrum. Hyperliquid L1 holds the largest share at 94.4%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $85.87m in fees. Of that, $69.75m was protocol revenue. Based on the trailing year, the annualized rate is $914.76m in fees and $696.03m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $84.28. Its circulating market capitalization is $18.744b, ranking it #12. Its fully diluted valuation is $80.498b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 7.3% over the past 7 days and up 6.6% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 14% below that level.

Which protocols are included in Hyperliquid?

Hyperliquid is a parent protocol whose tracked products include Hyperliquid Bridge, Hyperliquid HLP, Hyperliquid Spot Orderbook, Hyperliquid Perps, and Hyperliquid Outcomes.

How much trading volume does Hyperliquid process?

Hyperliquid processed $4.479b in DEX volume over the past 30 days.