Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.339b

TVL by Chain

Hyperliquid L1$6.94b

Arbitrum$399.17m

Key Metrics

Fees 30d$73.02m
Fees 30d by chain

Hyperliquid L1$73.02m

Fees 7d$16.63m

Hyperliquid L1$16.63m

Fees 24h$2.35m

Hyperliquid L1$2.35m

Cumulative Fees$1.595b

Hyperliquid L1$1.595b

Revenue 30d$56.57m
Revenue 30d by chain

Hyperliquid L1$56.57m

Revenue 7d$12.77m

Hyperliquid L1$12.77m

Revenue 24h$1.82m

Hyperliquid L1$1.82m

Cumulative Revenue$1.287b

Hyperliquid L1$1.287b

Holders Revenue 30d$56.57m
Holders Revenue 30d by chain

Hyperliquid L1$56.57m

Holders Revenue 7d$12.77m

Hyperliquid L1$12.77m

Holders Revenue 24h$1.82m

Hyperliquid L1$1.82m

Cumulative Holders Revenue$1.287b

Hyperliquid L1$1.287b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$687.24m

$56.57m

$12.77m

$1.82m

$1.287b

DEX Volume 30d$4.893b
DEX Volume 30d by chain

Hyperliquid L1$4.893b

DEX Volume 7d$970.87m

Hyperliquid L1$970.87m

DEX Volume 24h$169.07m

Hyperliquid L1$169.07m

Cumulative DEX Volume$169.04b

Hyperliquid L1$169.04b

Perp Volume 30d$212.675b
Perp Volume 30d by chain

Hyperliquid L1$212.675b

Perp Volume 7d$48.141b

Hyperliquid L1$48.141b

Perp Volume 24h$7.126b

Hyperliquid L1$7.126b

Cumulative Perp Volume$5.417t

Hyperliquid L1$5.417t

Liquidation Volume 30d$1.407b
Liquidation Volume 30d by chain

Hyperliquid L1$1.407b

Liquidation Volume 7d$272.2m

Hyperliquid L1$272.2m

Liquidation Volume 24h$37.68m

Hyperliquid L1$37.68m

Cumulative Liquidation Volume$34.011b

Hyperliquid L1$34.011b

$8.188b

Market Cap$20.259b

$HYPE Price$90.97

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$87.006b

$35.294b

$HYPE Volume 24h$1.114b

CEX Volume$378.56m

DEX Volume$801.67m(71.96% 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 $7.339b in total value locked. TVL has increased 9.2% 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 $73.02m in fees. Of that, $56.57m was protocol revenue. Based on the trailing year, the annualized rate is $910.59m in fees and $687.24m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $91.32. Its circulating market capitalization is $20.319b, ranking it #12. Its fully diluted valuation is $87.262b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 1.8% over the past 7 days and up 7.7% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 6.8% 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 $4.893b in DEX volume over the past 30 days.