Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.297b

TVL by Chain

Hyperliquid L1$6.909b

Arbitrum$387.14m

Key Metrics

Fees 30d$72.76m
Fees 30d by chain

Hyperliquid L1$72.76m

Fees 7d$14.9m

Hyperliquid L1$14.9m

Fees 24h$3.53m

Hyperliquid L1$3.53m

Cumulative Fees$1.602b

Hyperliquid L1$1.602b

Revenue 30d$56.36m
Revenue 30d by chain

Hyperliquid L1$56.36m

Revenue 7d$11.42m

Hyperliquid L1$11.42m

Revenue 24h$2.74m

Hyperliquid L1$2.74m

Cumulative Revenue$1.292b

Hyperliquid L1$1.292b

Holders Revenue 30d$56.36m
Holders Revenue 30d by chain

Hyperliquid L1$56.36m

Holders Revenue 7d$11.42m

Hyperliquid L1$11.42m

Holders Revenue 24h$2.74m

Hyperliquid L1$2.74m

Cumulative Holders Revenue$1.292b

Hyperliquid L1$1.292b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$683.65m

$56.36m

$11.42m

$2.74m

$1.292b

DEX Volume 30d$4.771b
DEX Volume 30d by chain

Hyperliquid L1$4.771b

DEX Volume 7d$890.58m

Hyperliquid L1$890.58m

DEX Volume 24h$171.83m

Hyperliquid L1$171.83m

Cumulative DEX Volume$169.424b

Hyperliquid L1$169.424b

Perp Volume 30d$211.107b
Perp Volume 30d by chain

Hyperliquid L1$211.107b

Perp Volume 7d$43.782b

Hyperliquid L1$43.782b

Perp Volume 24h$10.382b

Hyperliquid L1$10.382b

Cumulative Perp Volume$5.438t

Hyperliquid L1$5.438t

Liquidation Volume 30d$1.451b
Liquidation Volume 30d by chain

Hyperliquid L1$1.451b

Liquidation Volume 7d$286.78m

Hyperliquid L1$286.78m

Liquidation Volume 24h$106.64m

Hyperliquid L1$106.64m

Cumulative Liquidation Volume$34.154b

Hyperliquid L1$34.154b

$8.229b

Market Cap$19.576b

$HYPE Price$88.03

All Time High$97.96

All Time Low$3.81

View $HYPE token page

$84.072b

$34.153b

$HYPE Volume 24h$829.93m

CEX Volume$246.22m

DEX Volume$600.14m(72.31% 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 $7.297b in total value locked. TVL has increased 9.8% 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 94.7%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $72.76m in fees. Of that, $56.36m was protocol revenue. Based on the trailing year, the annualized rate is $906.33m in fees and $683.65m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $88.01. Its circulating market capitalization is $19.578b, ranking it #12. Its fully diluted valuation is $84.079b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is down 4.2% over the past 7 days and up 7.6% over the past 30 days. Its all-time high is $97.96, reached on Sep 23, 2026. The token is currently 10.2% 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 $4.771b in DEX volume over the past 30 days.