Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.048b

TVL by Chain

Hyperliquid L1$6.452b

Arbitrum$595.89m

Key Metrics

Fees 30d$79.9m
Fees 30d by chain

Hyperliquid L1$79.9m

Fees 7d$18.48m

Hyperliquid L1$18.48m

Fees 24h$1.9m

Hyperliquid L1$1.9m

Cumulative Fees$1.568b

Hyperliquid L1$1.568b

Revenue 30d$62.5m
Revenue 30d by chain

Hyperliquid L1$62.5m

Revenue 7d$14.39m

Hyperliquid L1$14.39m

Revenue 24h$1.51m

Hyperliquid L1$1.51m

Cumulative Revenue$1.266b

Hyperliquid L1$1.266b

Holders Revenue 30d$62.5m
Holders Revenue 30d by chain

Hyperliquid L1$62.5m

Holders Revenue 7d$14.39m

Hyperliquid L1$14.39m

Holders Revenue 24h$1.51m

Hyperliquid L1$1.51m

Cumulative Holders Revenue$1.266b

Hyperliquid L1$1.266b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$695.09m

$62.5m

$14.39m

$1.51m

$1.266b

DEX Volume 30d$5.479b
DEX Volume 30d by chain

Hyperliquid L1$5.479b

DEX Volume 7d$1.341b

Hyperliquid L1$1.341b

DEX Volume 24h$155.27m

Hyperliquid L1$155.27m

Cumulative DEX Volume$167.436b

Hyperliquid L1$167.436b

Perp Volume 30d$227.764b
Perp Volume 30d by chain

Hyperliquid L1$227.764b

Perp Volume 7d$53.253b

Hyperliquid L1$53.253b

Perp Volume 24h$4.385b

Hyperliquid L1$4.385b

Cumulative Perp Volume$5.341t

Hyperliquid L1$5.341t

Liquidation Volume 30d$1.69b
Liquidation Volume 30d by chain

Hyperliquid L1$1.69b

Liquidation Volume 7d$364.79m

Hyperliquid L1$364.79m

Liquidation Volume 24h$16.85m

Hyperliquid L1$16.85m

Cumulative Liquidation Volume$33.462b

Hyperliquid L1$33.462b

$8.138b

Market Cap$20.107b

$HYPE Price$90.33

All Time High$94.48

All Time Low$3.81

View $HYPE token page

$86.35b

$35.064b

$HYPE Volume 24h$884.82m

CEX Volume$210.46m

DEX Volume$648.51m(73.29% 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 $7.048b in total value locked. TVL has increased 10.3% 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 91.5%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $79.9m in fees. Of that, $62.5m was protocol revenue. Based on the trailing year, the annualized rate is $920.12m in fees and $695.09m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $90.9. Its circulating market capitalization is $20.218b, ranking it #12. Its fully diluted valuation is $86.826b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is up 16.7% over the past 7 days and up 19.9% over the past 30 days. Its all-time high is $94.48, reached on Sep 19, 2026. The token is currently 3.8% 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 $5.479b in DEX volume over the past 30 days.