Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.528b

TVL by Chain

Hyperliquid L1$6.928b

Arbitrum$600.02m

Key Metrics

Fees 30d$77.62m
Fees 30d by chain

Hyperliquid L1$77.62m

Fees 7d$21.07m

Hyperliquid L1$21.07m

Fees 24h$4.65m

Hyperliquid L1$4.65m

Cumulative Fees$1.575b

Hyperliquid L1$1.575b

Revenue 30d$60.6m
Revenue 30d by chain

Hyperliquid L1$60.6m

Revenue 7d$16.55m

Hyperliquid L1$16.55m

Revenue 24h$3.66m

Hyperliquid L1$3.66m

Cumulative Revenue$1.272b

Hyperliquid L1$1.272b

Holders Revenue 30d$60.6m
Holders Revenue 30d by chain

Hyperliquid L1$60.6m

Holders Revenue 7d$16.55m

Hyperliquid L1$16.55m

Holders Revenue 24h$3.66m

Hyperliquid L1$3.66m

Cumulative Holders Revenue$1.272b

Hyperliquid L1$1.272b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$697.22m

$60.6m

$16.55m

$3.66m

$1.272b

DEX Volume 30d$5.404b
DEX Volume 30d by chain

Hyperliquid L1$5.404b

DEX Volume 7d$1.556b

Hyperliquid L1$1.556b

DEX Volume 24h$315.39m

Hyperliquid L1$315.39m

Cumulative DEX Volume$167.893b

Hyperliquid L1$167.893b

Perp Volume 30d$222.986b
Perp Volume 30d by chain

Hyperliquid L1$222.986b

Perp Volume 7d$57.974b

Hyperliquid L1$57.974b

Perp Volume 24h$12.645b

Hyperliquid L1$12.645b

Cumulative Perp Volume$5.359t

Hyperliquid L1$5.359t

Liquidation Volume 30d$1.493b
Liquidation Volume 30d by chain

Hyperliquid L1$1.493b

Liquidation Volume 7d$530.09m

Hyperliquid L1$530.09m

Liquidation Volume 24h$216.72m

Hyperliquid L1$216.72m

Cumulative Liquidation Volume$33.701b

Hyperliquid L1$33.701b

$8.302b

Market Cap$20.89b

$HYPE Price$93.88

All Time High$95.99

All Time Low$3.81

View $HYPE token page

$89.715b

$36.442b

$HYPE Volume 24h$1.309b

CEX Volume$331.97m

DEX Volume$960.36m(73.37% 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.

WebsiteGitHubX/Twitter
Categories:BridgeDerivativesDexs
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 (excluding builders 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, unit protocol fees, and HYPE burned in successful HIP-1 token-deployment auctions, excluding perps fees.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 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 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 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 GitHub

DEX Volume: Volume of all spot token swaps on the DEX

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 $7.528b in total value locked. TVL has increased 13.1% 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 92%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $77.62m in fees. Of that, $60.6m was protocol revenue. Based on the trailing year, the annualized rate is $922.27m in fees and $697.22m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $93.88. Its circulating market capitalization is $20.89b, ranking it #12. Its fully diluted valuation is $89.715b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is up 17.5% over the past 7 days and up 19.2% over the past 30 days. Its all-time high is $95.99, reached on Sep 21, 2026. The token is currently 2.2% 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, and Hyperliquid Perps.

How much trading volume does Hyperliquid process?

Hyperliquid processed $5.404b in DEX volume over the past 30 days.