Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.544b

TVL by Chain

Hyperliquid L1$6.943b

Arbitrum$600.57m

Key Metrics

Fees 30d$74.97m
Fees 30d by chain

Hyperliquid L1$74.97m

Fees 7d$20.65m

Hyperliquid L1$20.65m

Fees 24h$2.47m

Hyperliquid L1$2.47m

Cumulative Fees$1.587b

Hyperliquid L1$1.587b

Revenue 30d$58.27m
Revenue 30d by chain

Hyperliquid L1$58.27m

Revenue 7d$16.08m

Hyperliquid L1$16.08m

Revenue 24h$1.86m

Hyperliquid L1$1.86m

Cumulative Revenue$1.281b

Hyperliquid L1$1.281b

Holders Revenue 30d$58.27m
Holders Revenue 30d by chain

Hyperliquid L1$58.27m

Holders Revenue 7d$16.08m

Hyperliquid L1$16.08m

Holders Revenue 24h$1.86m

Hyperliquid L1$1.86m

Cumulative Holders Revenue$1.281b

Hyperliquid L1$1.281b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$690.25m

$58.27m

$16.08m

$1.86m

$1.281b

DEX Volume 30d$5.133b
DEX Volume 30d by chain

Hyperliquid L1$5.133b

DEX Volume 7d$1.252b

Hyperliquid L1$1.252b

DEX Volume 24h$123.08m

Hyperliquid L1$123.08m

Cumulative DEX Volume$168.533b

Hyperliquid L1$168.533b

Perp Volume 30d$216.949b
Perp Volume 30d by chain

Hyperliquid L1$216.949b

Perp Volume 7d$57.468b

Hyperliquid L1$57.468b

Perp Volume 24h$7.328b

Hyperliquid L1$7.328b

Cumulative Perp Volume$5.394t

Hyperliquid L1$5.394t

Liquidation Volume 30d$1.421b
Liquidation Volume 30d by chain

Hyperliquid L1$1.421b

Liquidation Volume 7d$421.86m

Hyperliquid L1$421.86m

Liquidation Volume 24h$23.72m

Hyperliquid L1$23.72m

Cumulative Liquidation Volume$33.867b

Hyperliquid L1$33.867b

$8.386b

Market Cap$20.449b

$HYPE Price$91.92

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$87.82b

$35.681b

$HYPE Volume 24h$956.42m

CEX Volume$267.67m

DEX Volume$678.5m(70.94% 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 $7.544b in total value locked. TVL has increased 13.9% 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%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $74.97m in fees. Of that, $58.27m was protocol revenue. Based on the trailing year, the annualized rate is $914.29m in fees and $690.25m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $92.15. Its circulating market capitalization is $20.501b, ranking it #12. Its fully diluted valuation is $88.041b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 2.5% over the past 7 days and up 13.3% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 5.9% 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 $5.133b in DEX volume over the past 30 days.