Ask about Hyperliquid
Logo of Hyperliquid

Hyperliquid(HYPE)

Total Value Locked$6.973b

TVL by Chain

Hyperliquid L1$6.576b

Arbitrum$397.44m

Key Metrics

Fees 30d$88.45m
Fees 30d by chain

Hyperliquid L1$88.45m

Fees 7d$18.06m

Hyperliquid L1$18.06m

Fees 24h$2.76m

Hyperliquid L1$2.76m

Cumulative Fees$1.66b

Hyperliquid L1$1.66b

Revenue 30d$71.65m
Revenue 30d by chain

Hyperliquid L1$71.65m

Revenue 7d$14.56m

Hyperliquid L1$14.56m

Revenue 24h$2.18m

Hyperliquid L1$2.18m

Cumulative Revenue$1.343b

Hyperliquid L1$1.343b

Holders Revenue 30d$71.65m
Holders Revenue 30d by chain

Hyperliquid L1$71.65m

Holders Revenue 7d$14.56m

Hyperliquid L1$14.56m

Holders Revenue 24h$2.18m

Hyperliquid L1$2.18m

Cumulative Holders Revenue$1.343b

Hyperliquid L1$1.343b

Incentives 1y$0

Incentives 30d$0

Incentives 7d$0

Incentives 24h$0

Cumulative Incentives$0

Earnings (Annualized)$694.14m

Earnings 30d$71.65m

Earnings 7d$14.56m

Earnings 24h$2.18m

Cumulative Earnings$1.343b

DEX Volume 30d$4.582b
DEX Volume 30d by chain

Hyperliquid L1$4.582b

DEX Volume 7d$921.7m

Hyperliquid L1$921.7m

DEX Volume 24h$128.88m

Hyperliquid L1$128.88m

Cumulative DEX Volume$170.968b

Hyperliquid L1$170.968b

DEX Notional Volume 30d$89.94m
DEX Notional Volume 30d by chain

Hyperliquid L1$89.94m

DEX Notional Volume 7d$33.26m

Hyperliquid L1$33.26m

DEX Notional Volume 24h$6.54m

Hyperliquid L1$6.54m

Cumulative DEX Notional Volume$552.47m

Hyperliquid L1$552.47m

Perp Volume 30d$208.687b
Perp Volume 30d by chain

Hyperliquid L1$208.687b

Perp Volume 7d$43.846b

Hyperliquid L1$43.846b

Perp Volume 24h$7.627b

Hyperliquid L1$7.627b

Cumulative Perp Volume$5.491t

Hyperliquid L1$5.491t

Liquidation Volume 30d$1.62b
Liquidation Volume 30d by chain

Hyperliquid L1$1.62b

Liquidation Volume 7d$523.55m

Hyperliquid L1$523.55m

Liquidation Volume 24h$65.59m

Hyperliquid L1$65.59m

Cumulative Liquidation Volume$34.74b

Hyperliquid L1$34.74b

Open Interest$7.652b

Market Cap$17.794b

$HYPE Price$80

All Time High$97.96

All Time Low$3.81

View $HYPE token page

Fully Diluted Valuation$76.418b

Outstanding FDV$31.271b

$HYPE Volume 24h$686.89m

CEX Volume$253.35m

DEX Volume$477.65m(69.54% of total)

Loading chart...

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:

Latest from DefiLlama Research

Visit DefiLlama Research
Hyperliquid and the RWA retention question: what the data showsHyperliquid and the RWA retention question: what the data shows13 Aug 2026Read report Hyperliquid and the RWA onboarding question: what the data showsHyperliquid and the RWA onboarding question: what the data shows22 Jul 2026Read report

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 $6.973b in total value locked. TVL has increased 4% 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 94.3%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $88.45m in fees. Of that, $71.65m was protocol revenue. Based on the trailing year, the annualized rate is $912.07m in fees and $694.14m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $80.20. Its circulating market capitalization is $17.835b, ranking it #12. Its fully diluted valuation is $76.593b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 8.7% over the past 7 days and down 0.4% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 18.1% 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 $4.582b in DEX volume over the past 30 days.