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Hyperliquid(HYPE)

Total Value Locked$7.118b

TVL by Chain

Hyperliquid L1$6.717b

Arbitrum$400.8m

Key Metrics

Fees 30d$87.96m
Fees 30d by chain

Hyperliquid L1$87.96m

Fees 7d$17.66m

Hyperliquid L1$17.66m

Fees 24h$1.6m

Hyperliquid L1$1.6m

Cumulative Fees$1.652b

Hyperliquid L1$1.652b

Revenue 30d$71.41m
Revenue 30d by chain

Hyperliquid L1$71.41m

Revenue 7d$14.19m

Hyperliquid L1$14.19m

Revenue 24h$1.38m

Hyperliquid L1$1.38m

Cumulative Revenue$1.337b

Hyperliquid L1$1.337b

Holders Revenue 30d$71.41m
Holders Revenue 30d by chain

Hyperliquid L1$71.41m

Holders Revenue 7d$14.19m

Hyperliquid L1$14.19m

Holders Revenue 24h$1.38m

Hyperliquid L1$1.38m

Cumulative Holders Revenue$1.337b

Hyperliquid L1$1.337b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$697.47m

$71.41m

$14.19m

$1.38m

$1.337b

DEX Volume 30d$4.452b
DEX Volume 30d by chain

Hyperliquid L1$4.452b

DEX Volume 7d$827.48m

Hyperliquid L1$827.48m

DEX Volume 24h$72.68m

Hyperliquid L1$72.68m

Cumulative DEX Volume$170.313b

Hyperliquid L1$170.313b

Cumulative DEX Notional Volume$4.9m
Cumulative DEX Notional Volume by chain

Hyperliquid L1$4.9m

Perp Volume 30d$200.425b
Perp Volume 30d by chain

Hyperliquid L1$200.425b

Perp Volume 7d$41.705b

Hyperliquid L1$41.705b

Perp Volume 24h$2.826b

Hyperliquid L1$2.826b

Cumulative Perp Volume$5.482t

Hyperliquid L1$5.482t

Liquidation Volume 30d$1.508b
Liquidation Volume 30d by chain

Hyperliquid L1$1.508b

Liquidation Volume 7d$424.32m

Hyperliquid L1$424.32m

Liquidation Volume 24h$3.32m

Hyperliquid L1$3.32m

Cumulative Liquidation Volume$34.584b

Hyperliquid L1$34.584b

$7.712b

Market Cap$19.167b

$HYPE Price$86.21

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$82.313b

$33.699b

$HYPE Volume 24h$418.14m

CEX Volume$95.33m

DEX Volume$288.96m(69.11% 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 $7.118b in total value locked. TVL has increased 4.8% 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 $87.96m in fees. Of that, $71.41m was protocol revenue. Based on the trailing year, the annualized rate is $916.79m in fees and $697.47m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $86.75. Its circulating market capitalization is $19.294b, ranking it #12. Its fully diluted valuation is $82.86b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 3.6% over the past 7 days and up 4.7% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 11.4% 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 $4.452b in DEX volume over the past 30 days.