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Hyperliquid(HYPE)

Total Value Locked$6.92b

TVL by Chain

Hyperliquid L1$6.52b

Arbitrum$399.72m

Key Metrics

Fees 30d$88.45m
Fees 30d by chain

Hyperliquid L1$88.45m

Fees 7d$19.36m

Hyperliquid L1$19.36m

Fees 24h$4.48m

Hyperliquid L1$4.48m

Cumulative Fees$1.668b

Hyperliquid L1$1.668b

Revenue 30d$71.37m
Revenue 30d by chain

Hyperliquid L1$71.37m

Revenue 7d$15.44m

Hyperliquid L1$15.44m

Revenue 24h$3.46m

Hyperliquid L1$3.46m

Cumulative Revenue$1.349b

Hyperliquid L1$1.349b

Holders Revenue 30d$71.37m
Holders Revenue 30d by chain

Hyperliquid L1$71.37m

Holders Revenue 7d$15.44m

Hyperliquid L1$15.44m

Holders Revenue 24h$3.46m

Hyperliquid L1$3.46m

Cumulative Holders Revenue$1.349b

Hyperliquid L1$1.349b

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$692.39m

Earnings 30d$71.37m

Earnings 7d$15.44m

Earnings 24h$3.46m

Cumulative Earnings$1.349b

DEX Volume 30d$4.666b
DEX Volume 30d by chain

Hyperliquid L1$4.666b

DEX Volume 7d$968.38m

Hyperliquid L1$968.38m

DEX Volume 24h$219m

Hyperliquid L1$219m

Cumulative DEX Volume$171.339b

Hyperliquid L1$171.339b

DEX Notional Volume 30d$94.46m
DEX Notional Volume 30d by chain

Hyperliquid L1$94.46m

DEX Notional Volume 7d$42.08m

Hyperliquid L1$42.08m

DEX Notional Volume 24h$5.22m

Hyperliquid L1$5.22m

Cumulative DEX Notional Volume$565.78m

Hyperliquid L1$565.78m

Perp Volume 30d$213.843b
Perp Volume 30d by chain

Hyperliquid L1$213.843b

Perp Volume 7d$50.552b

Hyperliquid L1$50.552b

Perp Volume 24h$13.485b

Hyperliquid L1$13.485b

Cumulative Perp Volume$5.514t

Hyperliquid L1$5.514t

Liquidation Volume 30d$1.791b
Liquidation Volume 30d by chain

Hyperliquid L1$1.791b

Liquidation Volume 7d$479.18m

Hyperliquid L1$479.18m

Liquidation Volume 24h$201.03m

Hyperliquid L1$201.03m

Cumulative Liquidation Volume$35.028b

Hyperliquid L1$35.028b

Open Interest$7.695b

Market Cap$18.134b

$HYPE Price$81.52

All Time High$97.96

All Time Low$3.81

View $HYPE token page

Fully Diluted Valuation$77.88b

Outstanding FDV$31.866b

$HYPE Volume 24h$835.47m

CEX Volume$241.06m

DEX Volume$590.24m(70.65% of total)

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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:BridgeDerivativesDexsPrediction Market
Products:

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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 (after builder code fees, maker rebates, HIP-3 deployer 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 (builder code fees included), unit protocol fees, and HYPE burned in successful HIP-1 token-deployment auctions, excluding perps fees.View code on GitHubHyperliquid Outcomes - Fees users pay when closing or settling HIP-4 outcome positions, including builder-code fees added by front-ends. Hyperliquid charged no outcome fee of its own before 15 Aug 2026.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, after builder code fees and maker rebates, 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 GitHubHyperliquid Outcomes - 99% of outcome fees net of builder-code fees, sent to the Assistance Fund to buy HYPE.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, after builder code fees and maker rebates, 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 GitHubHyperliquid Outcomes - 99% of outcome fees net of builder-code fees, used by the Assistance Fund to buy back HYPE.View code on GitHub

DEX Volume: Volume of all spot token swaps on the DEX

Notional Volume: Notional volume of all trades on protocol

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 $6.92b in total value locked. TVL has increased 3.5% 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 94.2%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $88.45m in fees. Of that, $71.37m was protocol revenue. Based on the trailing year, the annualized rate is $910.02m in fees and $692.39m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $81.52. Its circulating market capitalization is $18.134b, ranking it #12. Its fully diluted valuation is $77.88b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 5.3% over the past 7 days and up 4.8% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 16.8% 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, Hyperliquid Perps, and Hyperliquid Outcomes.

How much trading volume does Hyperliquid process?

Hyperliquid processed $4.666b in DEX volume over the past 30 days.