Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.418b

TVL by Chain

Hyperliquid L1$7.023b

Arbitrum$395.12m

Key Metrics

Fees 30d$72.66m
Fees 30d by chain

Hyperliquid L1$72.66m

Fees 7d$17.37m

Hyperliquid L1$17.37m

Fees 24h$2.56m

Hyperliquid L1$2.56m

Cumulative Fees$1.593b

Hyperliquid L1$1.593b

Revenue 30d$56.33m
Revenue 30d by chain

Hyperliquid L1$56.33m

Revenue 7d$13.32m

Hyperliquid L1$13.32m

Revenue 24h$1.92m

Hyperliquid L1$1.92m

Cumulative Revenue$1.285b

Hyperliquid L1$1.285b

Holders Revenue 30d$56.33m
Holders Revenue 30d by chain

Hyperliquid L1$56.33m

Holders Revenue 7d$13.32m

Hyperliquid L1$13.32m

Holders Revenue 24h$1.92m

Hyperliquid L1$1.92m

Cumulative Holders Revenue$1.285b

Hyperliquid L1$1.285b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$687.95m

$56.33m

$13.32m

$1.92m

$1.285b

DEX Volume 30d$4.848b
DEX Volume 30d by chain

Hyperliquid L1$4.848b

DEX Volume 7d$978.49m

Hyperliquid L1$978.49m

DEX Volume 24h$157.91m

Hyperliquid L1$157.91m

Cumulative DEX Volume$168.871b

Hyperliquid L1$168.871b

Perp Volume 30d$209.635b
Perp Volume 30d by chain

Hyperliquid L1$209.635b

Perp Volume 7d$50.102b

Hyperliquid L1$50.102b

Perp Volume 24h$7.886b

Hyperliquid L1$7.886b

Cumulative Perp Volume$5.409t

Hyperliquid L1$5.409t

Liquidation Volume 30d$1.425b
Liquidation Volume 30d by chain

Hyperliquid L1$1.425b

Liquidation Volume 7d$272.54m

Hyperliquid L1$272.54m

Liquidation Volume 24h$84.29m

Hyperliquid L1$84.29m

Cumulative Liquidation Volume$33.973b

Hyperliquid L1$33.973b

$8.568b

Market Cap$19.042b

$HYPE Price$85.61

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$81.775b

$33.231b

$HYPE Volume 24h$657.25m

CEX Volume$215.95m

DEX Volume$455.58m(69.32% 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 $7.418b in total value locked. TVL has increased 10% 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 94.7%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $72.66m in fees. Of that, $56.33m was protocol revenue. Based on the trailing year, the annualized rate is $911.46m in fees and $687.95m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $86.47. Its circulating market capitalization is $19.235b, ranking it #12. Its fully diluted valuation is $82.608b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 10.6% over the past 7 days and up 1.9% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 11.7% 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 $4.848b in DEX volume over the past 30 days.