Overview
Hyperliquid(HYPE)
Token Price$85.39+0.62%over 24h
All Time HighSep 23, 2026$97.96
All Time LowNov 29, 2024$3.81
Key Metrics
$18.995b
$81.574b
222.45m HYPE
1b HYPE
$33.378b
Volume 24h$1.418b
CEX$932.78m
Spot$126.37m
USD Perp$806.05m
COIN Perp$355,280
DEX$484.83m
Spot$44.57m
USD Perp$440.26m
COIN Perp$0
Open Interest$2.049b
CEX$1.074b
USD Perp$1.072b
COIN Perp$2.14m
DEX$974.25m
USD Perp$974.25m
COIN PerpN/A
Total RaisedUndisclosed
Sep 16, 2025Undisclosed
Token Information
Income Statement for HYPE
Include incomes from Hyperliquid, Hyperliquid L1 Chain
| Q4 2026* | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $24.17M | $226.95M | $204.04M | $219.33M | $298.69M | $359.71M | $182.01M | $139.84M | $11.12M |
| Perp Fees | $15.7M | $171.72M | $178.71M | $192.64M | $257.69M | $314.51M | $175.83M | $137.37M | $10.69M |
| Spot Fees | $417.08K | $4.64M | $5.64M | $5.51M | $10.84M | $19.4M | $4.52M | $2.31M | $421.36K |
| Transaction Gas Fees | $0 | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Builder Code Fees | $2.87M | $23.95M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Spot fees on Unit markets | $124.34K | $1.22M | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
| Outcome Fees | $9.15K | $59.26K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| AQAv2 - USDC Yields | $4.84M | $22.16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Spot Deployment Auction Burns | $0 | $471.72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $10K | $126.37K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $200.96K | $809.3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Cost of Revenue | $4.69M | $45.42M | $36.78M | $34.17M | $45.74M | $50.54M | $10.51M | $7.65M | $605.9K |
| Perp Fees | $141.56K | $1.42M | $1.45M | $1.62M | $2.18M | $6.78M | $5.12M | $3.51M | $271.39K |
| Spot Fees | $4.1K | $45.99K | $55.93K | $54.27K | $109.26K | $367.65K | $131.65K | $58.8K | $9.45K |
| HLP | $145.75K | $1.53M | $1.5M | $1.67M | $2.28M | $7.15M | $5.25M | $4.08M | $325.06K |
| Builder Code Distribution | $2.87M | $23.95M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Maker Rebates | $796.56K | $8.33M | $8.8M | $10.41M | $14.73M | $13.48M | $0 | $0 | $0 |
| Unit Revenue | $124.34K | $1.22M | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
| HIP-3 Deployer Distribution | $610.94K | $8.92M | $7.49M | $1.1M | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $19.48M | $176.69M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Perp Fees | $14.01M | $146.73M | $143.12M | $159.95M | $215.44M | $271.29M | $165.59M | $130.43M | $10.26M |
| Spot Fees | $405.41K | $4.55M | $5.53M | $5.4M | $10.62M | $18.66M | $4.26M | $2.2M | $407.35K |
| Transaction Gas Fees | $0 | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Outcome Fees | $9.06K | $58.66K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| AQAv2 - USDC Yields | $4.84M | $22.16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Spot Deployment Auction Burns | $0 | $471.72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $10K | $126.37K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $200.96K | $809.3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Earnings | $19.48M | $176.69M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
Token Holder Net Income | $19.48M | $176.69M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Token Buy Back | $14.43M | $151.34M | $148.65M | $165.35M | $226.06M | $289.85M | $169.85M | $132.03M | $10.51M |
| Transaction Gas Fees | $0 | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| AQAv2 - USDC Yields | $4.84M | $22.16M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Spot Deployment Auction Burns | $0 | $471.72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $10K | $126.37K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $200.96K | $809.3K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Risks
How much debt can be issued against HYPE as collateral across lending protocols.
Maximum possible exposure to HYPE
$5.5m
$0 (max additional borrows against HYPE) + $5.5m (bad debt if HYPE was hacked now)
Maple
$5.5m at-risk exposure = $5.5m bad debt if hacked + $0 additional borrowable against HYPE
Methodology and limitations
Showing collateral exposure for HYPE on Hyperliquid L1. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
Show exposure details
Each row is one protocol-chain exposure for HYPE as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Markets
Token Rights and Value Accrual
Hyperliquid
HYPEValue accrues through buybacks and token burns.
Token Usage
An is required to view token usage.
Liquidations
An is required to view token liquidations.
Unlocks
An is required to view token unlocks.
Yields
Showing 10 of 16 pools
Borrow
Tracking 1 route