Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.493b

TVL by Chain

Hyperliquid L1$7.005b

Arbitrum$487.3m

Key Metrics

Fees 30d$71.07m
Fees 30d by chain

Hyperliquid L1$71.07m

Fees 7d$19.46m

Hyperliquid L1$19.46m

Fees 24h$1.75m

Hyperliquid L1$1.75m

Cumulative Fees$1.59b

Hyperliquid L1$1.59b

Revenue 30d$55.16m
Revenue 30d by chain

Hyperliquid L1$55.16m

Revenue 7d$15.06m

Hyperliquid L1$15.06m

Revenue 24h$1.34m

Hyperliquid L1$1.34m

Cumulative Revenue$1.283b

Hyperliquid L1$1.283b

Holders Revenue 30d$55.16m
Holders Revenue 30d by chain

Hyperliquid L1$55.16m

Holders Revenue 7d$15.06m

Hyperliquid L1$15.06m

Holders Revenue 24h$1.34m

Hyperliquid L1$1.34m

Cumulative Holders Revenue$1.283b

Hyperliquid L1$1.283b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$687.91m

$55.16m

$15.06m

$1.34m

$1.283b

DEX Volume 30d$4.834b
DEX Volume 30d by chain

Hyperliquid L1$4.834b

DEX Volume 7d$1.136b

Hyperliquid L1$1.136b

DEX Volume 24h$116.65m

Hyperliquid L1$116.65m

Cumulative DEX Volume$168.713b

Hyperliquid L1$168.713b

Perp Volume 30d$204.136b
Perp Volume 30d by chain

Hyperliquid L1$204.136b

Perp Volume 7d$54.862b

Hyperliquid L1$54.862b

Perp Volume 24h$4.502b

Hyperliquid L1$4.502b

Cumulative Perp Volume$5.402t

Hyperliquid L1$5.402t

Liquidation Volume 30d$1.343b
Liquidation Volume 30d by chain

Hyperliquid L1$1.343b

Liquidation Volume 7d$404.96m

Hyperliquid L1$404.96m

Liquidation Volume 24h$13.12m

Hyperliquid L1$13.12m

Cumulative Liquidation Volume$33.889b

Hyperliquid L1$33.889b

$8.459b

Market Cap$19.864b

$HYPE Price$89.31

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$85.308b

$34.668b

$HYPE Volume 24h$963.94m

CEX Volume$240m

DEX Volume$714.25m(74.1% 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:BridgeDexsDerivatives
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 $7.493b in total value locked. TVL has increased 11.6% 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 93.5%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $71.07m in fees. Of that, $55.16m was protocol revenue. Based on the trailing year, the annualized rate is $911.27m in fees and $687.91m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $89.31. Its circulating market capitalization is $19.864b, ranking it #12. Its fully diluted valuation is $85.308b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 5.4% over the past 7 days and up 11.5% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 8.8% below that level.

Which protocols are included in Hyperliquid?

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

How much trading volume does Hyperliquid process?

Hyperliquid processed $4.834b in DEX volume over the past 30 days.