Overview
Hyperliquid(HYPE)
Token Price$83.25
24h Change+2.95%
All Time HighAug 27, 2026$86.71
All Time LowNov 29, 2024$3.81
Key Metrics
$18.517b
$79.521b
222.45m HYPE
1b HYPE
$32.306b
Volume 24h$944.59m
CEX Volume$185.81m
DEX Volume$748.08m
Token Liquidity$363,675
Raydium AMM · Solana$363,675
Total RaisedUndisclosed
Sep 16, 2025Undisclosed
Income Statement for HYPE
Include incomes from Hyperliquid, Hyperliquid L1 Chain
| Q3 2026* | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $119.03M | $204.04M | $219.33M | $298.69M | $359.71M | $182.01M | $139.84M | $11.12M |
| Perp Fees | $100.61M | $178.71M | $192.64M | $257.69M | $314.51M | $175.83M | $137.37M | $10.69M |
| Spot Fees | $2.63M | $5.64M | $5.51M | $10.84M | $19.4M | $4.52M | $2.31M | $421.36K |
| Transaction Gas Fees | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Builder Code Fees | $12.99M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Spot fees on Unit markets | $682.16K | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
| Spot Deployment Auction Burns | $169.12K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $21.36K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $142.21K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Cost of Revenue | $26.57M | $36.78M | $34.17M | $45.74M | $50.54M | $10.51M | $7.65M | $605.9K |
| Perp Fees | $837.75K | $1.45M | $1.62M | $2.18M | $6.78M | $5.12M | $3.51M | $271.39K |
| Spot Fees | $25.51K | $55.93K | $54.27K | $109.26K | $367.65K | $131.65K | $58.8K | $9.45K |
| HLP | $863.75K | $1.5M | $1.67M | $2.28M | $7.15M | $5.25M | $4.08M | $325.06K |
| Builder Code Distribution | $12.99M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Maker Rebates | $4.74M | $8.8M | $10.41M | $14.73M | $13.48M | $0 | $0 | $0 |
| Unit Revenue | $682.16K | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
| HIP-3 Deployer Distribution | $6.43M | $7.49M | $1.1M | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $87.63M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Perp Fees | $82.94M | $143.12M | $159.95M | $215.44M | $271.29M | $165.59M | $130.43M | $10.26M |
| Spot Fees | $2.57M | $5.53M | $5.4M | $10.62M | $18.66M | $4.26M | $2.2M | $407.35K |
| Transaction Gas Fees | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Spot Deployment Auction Burns | $169.12K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $21.36K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $142.21K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Earnings | $87.63M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
Token Holder Net Income | $87.63M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Token Buy Back | $85.51M | $148.65M | $165.35M | $226.06M | $289.85M | $169.85M | $132.03M | $10.51M |
| Transaction Gas Fees | $1.78M | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Spot Deployment Auction Burns | $169.12K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Base Fees | $21.36K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Transaction Priority Fees | $142.21K | $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
$26m
$0 (max additional borrows against HYPE) + $26m (bad debt if HYPE was hacked now)
Maple
$26m at-risk exposure = $26m bad debt if hacked + $0 additional borrowable against HYPE
Methodology and limitations
Showing collateral exposure for HYPE on Hyperliquid L1. Max Borrowableuses 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
Value accrues through buybacks and token burns.
Token Usage
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Liquidations
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Unlocks
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Yields
Tracking 2 pools, average APY 0.00%
Borrow
Tracking 1 route