Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.314b

TVL by Chain

Hyperliquid L1$6.922b

Arbitrum$391.57m

Key Metrics

Fees 30d$70.15m
Fees 30d by chain

Hyperliquid L1$70.15m

Fees 7d$14.6m

Hyperliquid L1$14.6m

Fees 24h$865,801

Hyperliquid L1$865,801

Cumulative Fees$1.603b

Hyperliquid L1$1.603b

Revenue 30d$54.34m
Revenue 30d by chain

Hyperliquid L1$54.34m

Revenue 7d$11.19m

Hyperliquid L1$11.19m

Revenue 24h$669,744

Hyperliquid L1$669,744

Cumulative Revenue$1.293b

Hyperliquid L1$1.293b

Holders Revenue 30d$54.34m
Holders Revenue 30d by chain

Hyperliquid L1$54.34m

Holders Revenue 7d$11.19m

Hyperliquid L1$11.19m

Holders Revenue 24h$669,744

Hyperliquid L1$669,744

Cumulative Holders Revenue$1.293b

Hyperliquid L1$1.293b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$681.07m

$54.34m

$11.19m

$669,744

$1.293b

DEX Volume 30d$4.635b
DEX Volume 30d by chain

Hyperliquid L1$4.635b

DEX Volume 7d$886.59m

Hyperliquid L1$886.59m

DEX Volume 24h$59.21m

Hyperliquid L1$59.21m

Cumulative DEX Volume$169.483b

Hyperliquid L1$169.483b

Perp Volume 30d$203.285b
Perp Volume 30d by chain

Hyperliquid L1$203.285b

Perp Volume 7d$42.966b

Hyperliquid L1$42.966b

Perp Volume 24h$2.134b

Hyperliquid L1$2.134b

Cumulative Perp Volume$5.44t

Hyperliquid L1$5.44t

Liquidation Volume 30d$1.361b
Liquidation Volume 30d by chain

Hyperliquid L1$1.361b

Liquidation Volume 7d$283.62m

Hyperliquid L1$283.62m

Liquidation Volume 24h$5.96m

Hyperliquid L1$5.96m

Cumulative Liquidation Volume$34.16b

Hyperliquid L1$34.16b

$8.267b

Market Cap$19.977b

$HYPE Price$89.81

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$85.793b

$34.844b

$HYPE Volume 24h$447.62m

CEX Volume$113.49m

DEX Volume$369.63m(82.58% of total)

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:BridgeDerivativesDexs
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 (excluding builders 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, unit protocol fees, and HYPE burned in successful HIP-1 token-deployment auctions, excluding perps fees.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 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 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 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 GitHub

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

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 $7.314b in total value locked. TVL has increased 7.9% 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 94.6%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $70.15m in fees. Of that, $54.34m was protocol revenue. Based on the trailing year, the annualized rate is $903.11m in fees and $681.07m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $89.81. Its circulating market capitalization is $19.977b, ranking it #12. Its fully diluted valuation is $85.793b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 3.9% over the past 7 days and up 2.8% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 8.3% 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, and Hyperliquid Perps.

How much trading volume does Hyperliquid process?

Hyperliquid processed $4.635b in DEX volume over the past 30 days.