Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.611b

TVL by Chain

Hyperliquid L1$7.024b

Arbitrum$586.72m

Key Metrics

Fees 30d$77.61m
Fees 30d by chain

Hyperliquid L1$77.61m

Fees 7d$21.13m

Hyperliquid L1$21.13m

Fees 24h$3.08m

Hyperliquid L1$3.08m

Cumulative Fees$1.578b

Hyperliquid L1$1.578b

Revenue 30d$60.58m
Revenue 30d by chain

Hyperliquid L1$60.58m

Revenue 7d$16.52m

Hyperliquid L1$16.52m

Revenue 24h$2.37m

Hyperliquid L1$2.37m

Cumulative Revenue$1.274b

Hyperliquid L1$1.274b

Holders Revenue 30d$60.58m
Holders Revenue 30d by chain

Hyperliquid L1$60.58m

Holders Revenue 7d$16.52m

Hyperliquid L1$16.52m

Holders Revenue 24h$2.37m

Hyperliquid L1$2.37m

Cumulative Holders Revenue$1.274b

Hyperliquid L1$1.274b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$694.51m

$60.58m

$16.52m

$2.37m

$1.274b

DEX Volume 30d$5.376b
DEX Volume 30d by chain

Hyperliquid L1$5.376b

DEX Volume 7d$1.607b

Hyperliquid L1$1.607b

DEX Volume 24h$176.69m

Hyperliquid L1$176.69m

Cumulative DEX Volume$168.069b

Hyperliquid L1$168.069b

Perp Volume 30d$224.975b
Perp Volume 30d by chain

Hyperliquid L1$224.975b

Perp Volume 7d$57.887b

Hyperliquid L1$57.887b

Perp Volume 24h$9.088b

Hyperliquid L1$9.088b

Cumulative Perp Volume$5.368t

Hyperliquid L1$5.368t

Liquidation Volume 30d$1.485b
Liquidation Volume 30d by chain

Hyperliquid L1$1.485b

Liquidation Volume 7d$502.57m

Hyperliquid L1$502.57m

Liquidation Volume 24h$38.02m

Hyperliquid L1$38.02m

Cumulative Liquidation Volume$33.739b

Hyperliquid L1$33.739b

$8.832b

Market Cap$20.675b

$HYPE Price$92.98

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$88.79b

$36.092b

$HYPE Volume 24h$1.243b

CEX Volume$308.76m

DEX Volume$884.78m(71.18% 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 $7.611b in total value locked. TVL has increased 13% 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 92.3%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $77.61m in fees. Of that, $60.58m was protocol revenue. Based on the trailing year, the annualized rate is $919.22m in fees and $694.51m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $92.98. Its circulating market capitalization is $20.675b, ranking it #12. Its fully diluted valuation is $88.79b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is up 18% over the past 7 days and up 20.5% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 5.1% 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 $5.376b in DEX volume over the past 30 days.