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Hyperliquid(HYPE)

Total Value Locked$7.04b

TVL by Chain

Hyperliquid L1$6.647b

Arbitrum$393.32m

Key Metrics

Fees 30d$87.57m
Fees 30d by chain

Hyperliquid L1$87.57m

Fees 7d$17.77m

Hyperliquid L1$17.77m

Fees 24h$2.92m

Hyperliquid L1$2.92m

Cumulative Fees$1.657b

Hyperliquid L1$1.657b

Revenue 30d$71.05m
Revenue 30d by chain

Hyperliquid L1$71.05m

Revenue 7d$14.3m

Hyperliquid L1$14.3m

Revenue 24h$2.36m

Hyperliquid L1$2.36m

Cumulative Revenue$1.341b

Hyperliquid L1$1.341b

Holders Revenue 30d$71.05m
Holders Revenue 30d by chain

Hyperliquid L1$71.05m

Holders Revenue 7d$14.3m

Hyperliquid L1$14.3m

Holders Revenue 24h$2.36m

Hyperliquid L1$2.36m

Cumulative Holders Revenue$1.341b

Hyperliquid L1$1.341b

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$694.87m

Earnings 30d$71.05m

Earnings 7d$14.3m

Earnings 24h$2.36m

Cumulative Earnings$1.341b

DEX Volume 30d$4.539b
DEX Volume 30d by chain

Hyperliquid L1$4.539b

DEX Volume 7d$915.39m

Hyperliquid L1$915.39m

DEX Volume 24h$162.53m

Hyperliquid L1$162.53m

Cumulative DEX Volume$170.839b

Hyperliquid L1$170.839b

DEX Notional Volume 30d$85.15m
DEX Notional Volume 30d by chain

Hyperliquid L1$85.15m

DEX Notional Volume 7d$28.02m

Hyperliquid L1$28.02m

DEX Notional Volume 24h$8.31m

Hyperliquid L1$8.31m

Cumulative DEX Notional Volume$545.94m

Hyperliquid L1$545.94m

Perp Volume 30d$205.305b
Perp Volume 30d by chain

Hyperliquid L1$205.305b

Perp Volume 7d$42.329b

Hyperliquid L1$42.329b

Perp Volume 24h$7.447b

Hyperliquid L1$7.447b

Cumulative Perp Volume$5.493t

Hyperliquid L1$5.493t

Liquidation Volume 30d$1.578b
Liquidation Volume 30d by chain

Hyperliquid L1$1.578b

Liquidation Volume 7d$481.14m

Hyperliquid L1$481.14m

Liquidation Volume 24h$68.69m

Hyperliquid L1$68.69m

Cumulative Liquidation Volume$34.675b

Hyperliquid L1$34.675b

Open Interest$8.015b

Market Cap$18.465b

$HYPE Price$83.01

All Time High$97.96

All Time Low$3.81

View $HYPE token page

Fully Diluted Valuation$79.299b

Outstanding FDV$32.448b

$HYPE Volume 24h$938.1m

CEX Volume$262.69m

DEX Volume$664.54m(70.84% 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:

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 $7.04b in total value locked. TVL has increased 4.2% 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 94.4%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $87.57m in fees. Of that, $71.05m was protocol revenue. Based on the trailing year, the annualized rate is $913.11m in fees and $694.87m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $83.01. Its circulating market capitalization is $18.465b, ranking it #12. Its fully diluted valuation is $79.299b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 10.5% 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 15.3% 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 $4.539b in DEX volume over the past 30 days.