Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.28b

TVL by Chain

Hyperliquid L1$6.892b

Arbitrum$388.12m

Key Metrics

Fees 30d$71.45m
Fees 30d by chain

Hyperliquid L1$71.45m

Fees 7d$13.84m

Hyperliquid L1$13.84m

Fees 24h$1.9m

Hyperliquid L1$1.9m

Cumulative Fees$1.599b

Hyperliquid L1$1.599b

Revenue 30d$55.36m
Revenue 30d by chain

Hyperliquid L1$55.36m

Revenue 7d$10.54m

Hyperliquid L1$10.54m

Revenue 24h$1.44m

Hyperliquid L1$1.44m

Cumulative Revenue$1.29b

Hyperliquid L1$1.29b

Holders Revenue 30d$55.36m
Holders Revenue 30d by chain

Hyperliquid L1$55.36m

Holders Revenue 7d$10.54m

Hyperliquid L1$10.54m

Holders Revenue 24h$1.44m

Hyperliquid L1$1.44m

Cumulative Holders Revenue$1.29b

Hyperliquid L1$1.29b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$684.25m

$55.36m

$10.54m

$1.44m

$1.29b

DEX Volume 30d$4.762b
DEX Volume 30d by chain

Hyperliquid L1$4.762b

DEX Volume 7d$841.83m

Hyperliquid L1$841.83m

DEX Volume 24h$115.88m

Hyperliquid L1$115.88m

Cumulative DEX Volume$169.252b

Hyperliquid L1$169.252b

Perp Volume 30d$207.763b
Perp Volume 30d by chain

Hyperliquid L1$207.763b

Perp Volume 7d$40.728b

Hyperliquid L1$40.728b

Perp Volume 24h$6.232b

Hyperliquid L1$6.232b

Cumulative Perp Volume$5.427t

Hyperliquid L1$5.427t

Liquidation Volume 30d$1.369b
Liquidation Volume 30d by chain

Hyperliquid L1$1.369b

Liquidation Volume 7d$203.85m

Hyperliquid L1$203.85m

Liquidation Volume 24h$20.06m

Hyperliquid L1$20.06m

Cumulative Liquidation Volume$34.047b

Hyperliquid L1$34.047b

$8.366b

Market Cap$19.503b

$HYPE Price$87.73

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$83.757b

$34.037b

$HYPE Volume 24h$875.89m

CEX Volume$290.91m

DEX Volume$654.88m(74.77% 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 $7.28b in total value locked. TVL has increased 8.3% 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 94.7%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $71.45m in fees. Of that, $55.36m was protocol revenue. Based on the trailing year, the annualized rate is $906.99m in fees and $684.25m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $87.73. Its circulating market capitalization is $19.503b, ranking it #12. Its fully diluted valuation is $83.757b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 5.8% over the past 7 days and up 5.8% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 10.4% 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 $4.762b in DEX volume over the past 30 days.