Ask about Hyperliquid · freeTotal Value Locked$6.883b
TVL by Chain
Hyperliquid L1$6.492b
Arbitrum$391.18m
Key Metrics
Fees 30d$84.96m
Fees 30d by chain
Hyperliquid L1$84.96m
Fees 7d$20.37m
Hyperliquid L1$20.37m
Fees 24h$2.49m
Hyperliquid L1$2.49m
Cumulative Fees$1.677b
Hyperliquid L1$1.677b
Revenue 30d$68.35m
Revenue 30d by chain
Hyperliquid L1$68.35m
Revenue 7d$15.97m
Hyperliquid L1$15.97m
Revenue 24h$1.92m
Hyperliquid L1$1.92m
Cumulative Revenue$1.357b
Hyperliquid L1$1.357b
Holders Revenue 30d$68.35m
Holders Revenue 30d by chain
Hyperliquid L1$68.35m
Holders Revenue 7d$15.97m
Hyperliquid L1$15.97m
Holders Revenue 24h$1.92m
Hyperliquid L1$1.92m
Cumulative Holders Revenue$1.357b
Hyperliquid L1$1.357b
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$690.42m
Earnings 30d$68.35m
Earnings 7d$15.97m
Earnings 24h$1.92m
Cumulative Earnings$1.357b
DEX Volume 30d$4.083b
DEX Volume 30d by chain
Hyperliquid L1$4.083b
DEX Volume 7d$894.43m
Hyperliquid L1$894.43m
DEX Volume 24h$107.31m
Hyperliquid L1$107.31m
Cumulative DEX Volume$171.735b
Hyperliquid L1$171.735b
DEX Notional Volume 30d$114.65m
DEX Notional Volume 30d by chain
Hyperliquid L1$114.65m
DEX Notional Volume 7d$47.23m
Hyperliquid L1$47.23m
DEX Notional Volume 24h$7.54m
Hyperliquid L1$7.54m
Cumulative DEX Notional Volume$595.8m
Hyperliquid L1$595.8m
Perp Volume 30d$208.592b
Perp Volume 30d by chain
Hyperliquid L1$208.592b
Perp Volume 7d$56.54b
Hyperliquid L1$56.54b
Perp Volume 24h$7.505b
Hyperliquid L1$7.505b
Cumulative Perp Volume$5.55t
Hyperliquid L1$5.55t
Liquidation Volume 30d$1.768b
Liquidation Volume 30d by chain
Hyperliquid L1$1.768b
Liquidation Volume 7d$554.95m
Hyperliquid L1$554.95m
Liquidation Volume 24h$25.92m
Hyperliquid L1$25.92m
Cumulative Liquidation Volume$35.23b
Hyperliquid L1$35.23b
Open Interest$7.477b
Market Cap$17.599b
$HYPE Price$79.12
Fully Diluted Valuation$75.58b
Outstanding FDV$30.927b
$HYPE Volume 24h$552.81m
CEX Volume$183.11m
DEX Volume$509.05m(92.08% 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.
- Hyperliquid BridgeBridge
- Hyperliquid HLPDerivatives
- Hyperliquid PerpsDerivatives
- Hyperliquid OutcomesPrediction Market
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Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
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
Hyperliquid history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jun 9, 2023 to Oct 20, 2026.
All-time high TVL: $7.631b on Sep 23, 2026. All-time low TVL: $2.8m on Jul 10, 2023.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $7.101b |
| Sep 22, 2026 | $7.525b |
| Sep 23, 2026 | $7.631b |
| Sep 24, 2026 | $7.61b |
| Sep 25, 2026 | $7.467b |
| Sep 26, 2026 | $7.548b |
| Sep 27, 2026 | $7.541b |
| Sep 28, 2026 | $7.542b |
| Sep 29, 2026 | $7.464b |
| Sep 30, 2026 | $7.408b |
| Oct 1, 2026 | $7.338b |
| Oct 2, 2026 | $7.297b |
| Oct 3, 2026 | $7.286b |
| Oct 4, 2026 | $7.321b |
| Oct 5, 2026 | $7.319b |
| Oct 6, 2026 | $7.349b |
| Oct 7, 2026 | $7.359b |
| Oct 8, 2026 | $7.237b |
| Oct 9, 2026 | $7.057b |
| Oct 10, 2026 | $7.071b |
| Oct 11, 2026 | $7.125b |
| Oct 12, 2026 | $7.118b |
| Oct 13, 2026 | $7.101b |
| Oct 14, 2026 | $7.054b |
| Oct 15, 2026 | $6.98b |
| Oct 16, 2026 | $6.988b |
| Oct 17, 2026 | $6.895b |
| Oct 18, 2026 | $6.889b |
| Oct 19, 2026 | $6.95b |
| Oct 20, 2026 | $6.886b |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.28b |
| Dec 31, 2024 | $2.036b |
| Jan 31, 2025 | $2.417b |
| Feb 28, 2025 | $2.633b |
| Mar 31, 2025 | $2.079b |
| Apr 30, 2025 | $2.308b |
| May 31, 2025 | $3.552b |
| Jun 30, 2025 | $3.71b |
| Jul 31, 2025 | $4.913b |
| Aug 31, 2025 | $5.764b |
| Sep 30, 2025 | $5.839b |
| Oct 31, 2025 | $4.887b |
| Nov 30, 2025 | $4.382b |
| Dec 31, 2025 | $4.149b |
| Jan 31, 2026 | $4.573b |
| Feb 28, 2026 | $4.232b |
| Mar 31, 2026 | $4.899b |
| Apr 30, 2026 | $4.714b |
| May 31, 2026 | $5.561b |
| Jun 30, 2026 | $5.724b |
| Jul 31, 2026 | $6.131b |
| Aug 31, 2026 | $6.723b |
| Sep 30, 2026 | $7.408b |
| Oct 20, 2026 (latest) | $6.886b |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $57.25m |
| Dec 31, 2024 | $2.036b |
| Dec 31, 2025 | $4.149b |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $11.12m | $10.51m | $10.51m |
| Jan 2025 | $52.17m | $49.13m | $49.13m |
| Feb 2025 | $46.59m | $44.21m | $44.21m |
| Mar 2025 | $40.93m | $38.69m | $38.69m |
| Apr 2025 | $44.24m | $41.66m | $41.66m |
| May 2025 | $72.98m | $68.73m | $68.73m |
| Jun 2025 | $63.14m | $59.46m | $59.46m |
| Jul 2025 | $96.41m | $90.79m | $90.79m |
| Aug 2025 | $144.97m | $113.86m | $113.86m |
| Sep 2025 | $115.28m | $85.2m | $85.2m |
| Oct 2025 | $124.84m | $97.2m | $97.2m |
| Nov 2025 | $101.38m | $77.65m | $77.65m |
| Dec 2025 | $68.75m | $51.21m | $51.21m |
| Jan 2026 | $77.29m | $59.84m | $59.84m |
| Feb 2026 | $70.7m | $54m | $54m |
| Mar 2026 | $69.49m | $51.51m | $51.51m |
| Apr 2026 | $58.67m | $42.36m | $42.36m |
| May 2026 | $62.18m | $46.33m | $46.33m |
| Jun 2026 | $80.98m | $59.96m | $59.96m |
| Jul 2026 | $55.14m | $38.42m | $38.42m |
| Aug 2026 | $77.77m | $61.36m | $61.36m |
| Sep 2026 | $91.33m | $74.19m | $74.19m |
| Oct 2026 (to date) | $50.84m | $40.68m | $40.68m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/hyperliquid
Frequently asked questions
What is Hyperliquid's TVL?
As of Oct 20, 2026, Hyperliquid has $6.883b in total value locked. TVL has decreased 3.1% 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 $84.96m in fees. Of that, $68.35m was protocol revenue. Based on the trailing year, the annualized rate is $907.04m in fees and $690.42m in revenue.
What is the HYPE token price and valuation?
HYPE is currently trading at $81.20. Its circulating market capitalization is $18.065b, ranking it #12. Its fully diluted valuation is $77.582b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.
How has HYPE performed recently?
HYPE is down 2.2% over the past 7 days and down 12.6% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 17.1% 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 $4.083b in DEX volume over the past 30 days.