Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.095b

TVL by Chain

Hyperliquid L1$6.498b

Arbitrum$596.57m

Key Metrics

Fees 30d$82.25m
Fees 30d by chain

Hyperliquid L1$82.25m

Fees 7d$17.32m

Hyperliquid L1$17.32m

Fees 24h$3.96m

Hyperliquid L1$3.96m

Cumulative Fees$1.567b

Hyperliquid L1$1.567b

Revenue 30d$64.34m
Revenue 30d by chain

Hyperliquid L1$64.34m

Revenue 7d$13.47m

Hyperliquid L1$13.47m

Revenue 24h$3.07m

Hyperliquid L1$3.07m

Cumulative Revenue$1.265b

Hyperliquid L1$1.265b

Holders Revenue 30d$64.34m
Holders Revenue 30d by chain

Hyperliquid L1$64.34m

Holders Revenue 7d$13.47m

Hyperliquid L1$13.47m

Holders Revenue 24h$3.07m

Hyperliquid L1$3.07m

Cumulative Holders Revenue$1.265b

Hyperliquid L1$1.265b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$696.42m

$64.34m

$13.47m

$3.07m

$1.265b

DEX Volume 30d$5.591b
DEX Volume 30d by chain

Hyperliquid L1$5.591b

DEX Volume 7d$1.288b

Hyperliquid L1$1.288b

DEX Volume 24h$390.36m

Hyperliquid L1$390.36m

Cumulative DEX Volume$167.281b

Hyperliquid L1$167.281b

Perp Volume 30d$235.568b
Perp Volume 30d by chain

Hyperliquid L1$235.568b

Perp Volume 7d$50.822b

Hyperliquid L1$50.822b

Perp Volume 24h$10.605b

Hyperliquid L1$10.605b

Cumulative Perp Volume$5.337t

Hyperliquid L1$5.337t

Liquidation Volume 30d$1.904b
Liquidation Volume 30d by chain

Hyperliquid L1$1.904b

Liquidation Volume 7d$350.06m

Hyperliquid L1$350.06m

Liquidation Volume 24h$106.7m

Hyperliquid L1$106.7m

Cumulative Liquidation Volume$33.445b

Hyperliquid L1$33.445b

$7.294b

Market Cap$20.523b

$HYPE Price$92.29

All Time High$94.48

All Time Low$3.81

View $HYPE token page

$88.137b

$35.824b

$HYPE Volume 24h$1.793b

CEX Volume$468.88m

DEX Volume$1.296b(72.27% 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 $7.095b in total value locked. TVL has increased 13.5% 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 91.6%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $82.25m in fees. Of that, $64.34m was protocol revenue. Based on the trailing year, the annualized rate is $922.11m in fees and $696.42m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $93.7. Its circulating market capitalization is $20.839b, ranking it #12. Its fully diluted valuation is $89.495b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is up 19.7% over the past 7 days and up 35.7% over the past 30 days. Its all-time high is $94.48, reached on Sep 19, 2026. The token is currently 0.8% 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 $5.591b in DEX volume over the past 30 days.