Ask about Hyperliquid · freeTotal Value Locked$8.148b
TVL by Chain
Hyperliquid L1$7.921b
Arbitrum$227.22m
Key Metrics
Fees 30d$85.52m
Fees 30d by chain
Hyperliquid L1$85.52m
Fees 7d$22.28m
Hyperliquid L1$22.28m
Fees 24h$1.47m
Hyperliquid L1$1.47m
Cumulative Fees$1.714b
Hyperliquid L1$1.714b
Revenue 30d$67.15m
Revenue 30d by chain
Hyperliquid L1$67.15m
Revenue 7d$17.05m
Hyperliquid L1$17.05m
Revenue 24h$1.24m
Hyperliquid L1$1.24m
Cumulative Revenue$1.385b
Hyperliquid L1$1.385b
Holders Revenue 30d$67.15m
Holders Revenue 30d by chain
Hyperliquid L1$67.15m
Holders Revenue 7d$17.05m
Hyperliquid L1$17.05m
Holders Revenue 24h$1.24m
Hyperliquid L1$1.24m
Cumulative Holders Revenue$1.385b
Hyperliquid L1$1.385b
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$685.96m
Earnings 30d$67.15m
Earnings 7d$17.05m
Earnings 24h$1.24m
Cumulative Earnings$1.385b
DEX Volume 30d$4.13b
DEX Volume 30d by chain
Hyperliquid L1$4.13b
DEX Volume 7d$1.195b
Hyperliquid L1$1.195b
DEX Volume 24h$118.7m
Hyperliquid L1$118.7m
Cumulative DEX Volume$173.614b
Hyperliquid L1$173.614b
DEX Notional Volume 30d$182m
DEX Notional Volume 30d by chain
Hyperliquid L1$182m
DEX Notional Volume 7d$62.07m
Hyperliquid L1$62.07m
DEX Notional Volume 24h$11.64m
Hyperliquid L1$11.64m
Cumulative DEX Notional Volume$697.18m
Hyperliquid L1$697.18m
Perp Volume 30d$222.555b
Perp Volume 30d by chain
Hyperliquid L1$222.555b
Perp Volume 7d$59.867b
Hyperliquid L1$59.867b
Perp Volume 24h$2.537b
Hyperliquid L1$2.537b
Cumulative Perp Volume$5.647t
Hyperliquid L1$5.647t
Bridge Volume 30d$1.543b
Bridge Volume 30d by chain
Hyperliquid L1$837.25m
Arbitrum$705.54m
Bridge Volume 7d$550.11m
Hyperliquid L1$345.37m
Arbitrum$204.74m
Bridge Volume 24h$63.24m
Hyperliquid L1$52.99m
Arbitrum$10.25m
Liquidation Volume 30d$2.175b
Liquidation Volume 30d by chain
Hyperliquid L1$2.175b
Liquidation Volume 7d$589.57m
Hyperliquid L1$589.57m
Liquidation Volume 24h$8.38m
Hyperliquid L1$8.38m
Cumulative Liquidation Volume$36.222b
Hyperliquid L1$36.222b
Open Interest$7.568b
Market Cap$21.039b
$HYPE Price$87.89
Fully Diluted Valuation$83.621b
Outstanding FDV$34.336b
$HYPE Volume 24h$1.212b
CEX Volume$270.13m
DEX Volume$891.18m(73.5% of total)
Active Loans$488.19m
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 EarnLending
- Hyperliquid HLPDerivatives
- Hyperliquid PerpsDerivatives
- Hyperliquid OutcomesPrediction Market
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Yields
Pools Tracked6
Average Supply APY2.46%
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
Bridge Volume: Value of assets sent through the bridge, counted once on the chain they leave from
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, which excludes Active Loans. Daily values are UTC snapshots from Jun 9, 2023 to Nov 1, 2026.
All-time high TVL: $9.069b on Sep 24, 2026. All-time low TVL: $2.8m on Jul 10, 2023.
Daily TVL, Oct 3, 2026 to Nov 1, 2026
| Date | TVL |
|---|---|
| Oct 3, 2026 | $8.762b |
| Oct 4, 2026 | $8.807b |
| Oct 5, 2026 | $8.825b |
| Oct 6, 2026 | $8.913b |
| Oct 7, 2026 | $8.907b |
| Oct 8, 2026 | $8.769b |
| Oct 9, 2026 | $8.548b |
| Oct 10, 2026 | $8.577b |
| Oct 11, 2026 | $8.629b |
| Oct 12, 2026 | $8.635b |
| Oct 13, 2026 | $8.557b |
| Oct 14, 2026 | $8.511b |
| Oct 15, 2026 | $8.421b |
| Oct 16, 2026 | $8.456b |
| Oct 17, 2026 | $8.342b |
| Oct 18, 2026 | $8.321b |
| Oct 19, 2026 | $8.392b |
| Oct 20, 2026 | $8.295b |
| Oct 21, 2026 | $8.347b |
| Oct 22, 2026 | $8.42b |
| Oct 23, 2026 | $8.32b |
| Oct 24, 2026 | $8.3b |
| Oct 25, 2026 | $8.202b |
| Oct 26, 2026 | $8.194b |
| Oct 27, 2026 | $8.167b |
| Oct 28, 2026 | $8.257b |
| Oct 29, 2026 | $8.241b |
| Oct 30, 2026 | $8.383b |
| Oct 31, 2026 | $8.291b |
| Nov 1, 2026 | $8.155b |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| 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 | $8.827b |
| Oct 31, 2026 | $8.291b |
| Nov 1, 2026 (latest) | $8.155b |
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 | $87.95m | $69.13m | $69.13m |
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 Nov 1, 2026, Hyperliquid has $8.148b in total value locked. TVL has decreased 6.9% 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 97.2%.
How much has Hyperliquid generated in fees and revenue?
Over the past 30 days, Hyperliquid generated $85.52m in fees. Of that, $67.15m was protocol revenue. Based on the trailing year, the annualized rate is $901.63m in fees and $685.96m in revenue.
What is the HYPE token price and valuation?
HYPE is currently trading at $87.89. Its circulating market capitalization is $21.039b, ranking it #12. Its fully diluted valuation is $83.621b. Supply currently stands at 239.41m circulating, 951.54m total supply, 1b maximum supply.
How has HYPE performed recently?
HYPE is up 14.9% over the past 7 days and down 3.3% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 10.3% below that level.
Which protocols are included in Hyperliquid?
Hyperliquid is a parent protocol whose tracked products include Hyperliquid Bridge, Hyperliquid Earn, Hyperliquid HLP, Hyperliquid Spot Orderbook, and Hyperliquid Perps and 1 others.
How much has been borrowed through Hyperliquid?
As of Nov 1, 2026, Hyperliquid has $488.19m in active loans.