Overview
Hyperliquid(HYPE)
Token Price$65.26
24h Change+2.21%
All Time HighJun 16, 2026$76.7
All Time LowNov 29, 2024$3.81
Key Metrics
Market Cap$14.518b
Fully Diluted Valuation$65.264b
Circ. Supply222.45m HYPE
Max Supply1b HYPE
Outstanding FDV$25.298b
Volume 24h$355.64m
CEX Volume$140.24m
DEX Volume$220.01m
Token Liquidity$363,675
Raydium AMM · Solana$363,675
Total RaisedUndisclosed
Sep 16, 2025Undisclosed
Income Statement for Hyperliquid
| Q3 2026* | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $24.36M | $204.03M | $219.33M | $298.69M | $359.70M | $182.01M | $139.84M | $11.11M |
| Perp Fees | $21.25M | $178.71M | $192.64M | $257.69M | $314.51M | $175.83M | $137.36M | $10.69M |
| Spot Fees | $513.17K | $5.64M | $5.50M | $10.83M | $19.39M | $4.51M | $2.31M | $421.35K |
| Builder Code Fees | $2.24M | $16.38M | $17.92M | $23.12M | $16.23M | |||
| Spot fees on Unit markets | $124.94K | $1.09M | $1.39M | $3.31M | $6.51M | |||
| Transaction Gas Fees | $229.88K | $2.20M | $1.85M | $3.71M | $3.05M | $1.65M | $162.41K | |
Cost of Revenue | $4.83M | $36.77M | $34.17M | $45.73M | $50.53M | $10.50M | $7.65M | $605.90K |
| Perp Fees | $167.17K | $1.44M | $1.61M | $2.17M | $6.78M | $5.12M | $3.51M | $271.39K |
| Spot Fees | $5.07K | $55.92K | $54.27K | $109.26K | $367.65K | $131.64K | $58.80K | $9.45K |
| HLP | $172.26K | $1.50M | $1.67M | $2.28M | $7.15M | $5.25M | $4.08M | $325.06K |
| Builder Code Distribution | $2.24M | $16.38M | $17.92M | $23.12M | $16.23M | |||
| Maker Rebates | $955.28K | $8.80M | $10.40M | $14.72M | $13.48M | |||
| Unit Revenue | $124.94K | $1.09M | $1.39M | $3.31M | $6.51M | |||
| HIP-3 Deployer Distribution | $1.15M | $7.49M | $1.10M | |||||
Gross Profit | $17.28M | $150.85M | $167.20M | $229.77M | $292.89M | $171.50M | $132.18M | $10.51M |
| Perp Fees | $16.55M | $143.11M | $159.94M | $215.43M | $271.28M | $165.59M | $130.42M | $10.25M |
| Spot Fees | $503.01K | $5.52M | $5.39M | $10.62M | $18.66M | $4.25M | $2.19M | $407.34K |
| Transaction Gas Fees | $229.88K | $2.20M | $1.85M | $3.71M | $3.05M | $1.65M | $162.41K | |
Earnings | $17.28M | $150.85M | $167.20M | $229.77M | $292.89M | $171.50M | $132.18M | $10.51M |
Token Holder Net Income | $17.28M | $150.85M | $167.20M | $229.77M | $292.89M | $171.50M | $132.18M | $10.51M |
| Token Buy Back | $17.05M | $148.64M | $165.34M | $226.06M | $289.84M | $169.84M | $132.02M | $10.51M |
| Transaction Gas Fees | $229.88K | $2.20M | $1.85M | $3.71M | $3.05M | $1.65M | $162.41K |
Risks
How much debt can be issued against HYPE as collateral across lending protocols.
Maximum possible exposure to HYPE
$20.5m
$0 (max additional borrows against HYPE) + $20.5m (bad debt if HYPE was hacked now)
Maple
$20.5m at-risk exposure = $20.5m 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.
Protocol | Chain | |||
|---|---|---|---|---|
HYPE0x0d01dc56dcaaca66ad901c959b4011ec | $0 | $20.5m |
Markets
Token Rights and Value Accrual
Hyperliquid
Value 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 259 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabHYPE-WETHCL50 - 0.05% | $173,211 | 688% | 432% | ||||||
| open in new tabWHYPE-USD₮0CL 0.11% | $152,372 | 606% | 0% | 606% | 735% | ||||
| open in new tabWHYPE-USDMDynamic-fee CL | $137,496 | 87.60% | 0% | 87.60% | 139% | ||||
| open in new tabHYBR-WHYPEDynamic-fee CL | $131,789 | 142% | 0% | 142% | 95.50% | ||||
| open in new tabWHYPE-USDCDynamic-fee CL | $104,680 | 162% | 0% | 162% | 229% | ||||
| open in new tabUPUMP-WHYPE0.3% | 🪂 | $104,229 | 136% | 136% | 19.48% | ||||
| open in new tabJEFF-WHYPEDynamic-fee CL | $91,694 | 315% | 0% | 315% | 558% | ||||
| open in new tabWHYPE-UBTCCL 0.13% | $34,167 | 282% | 0% | 282% | 388% | ||||
| open in new tabWHYPE-HPL0.25% | $22,436 | 162% | 162% | 223% | |||||
| open in new tabHYPE-ANSEM | $10,148 | 390% | 390% | 438% |
Borrow
Showing 10 of 231 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWHYPE ➞ KHYPE | $274.16m | 0.60% | 0.60% | 0% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ KHYPE | 🪂 | $274.16m | 0.53% | 0.53% | 0% | 68% | $4.58m | $2.49m | |
| open in new tabWHYPE ➞ WSTHYPE | $81.65m | 0.59% | 0.60% | -0.01% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ WSTHYPE | 🪂 | $81.65m | 0.52% | 0.53% | -0.01% | 68% | $4.58m | $2.49m | |
| open in new tabWHYPE ➞ JITOSOL | $17.51m | 0.59% | 0.60% | -0.01% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ BEHYPE | $2.66m | 0.58% | 0.60% | -0.03% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ MSOL | $2.63m | 0.59% | 0.60% | -0.01% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ MSOL | 🪂 | $2.63m | 0.52% | 0.53% | -0.01% | 68% | $4.58m | $2.49m | |
| open in new tabWHYPE ➞ WBTC | $723,076 | 0.59% | 0.60% | -0.01% | 60% | $215.28m | $166.45m | ||
| open in new tabWHYPE ➞ JTO | $401,647 | 0.59% | 0.60% | -0.01% | 60% | $215.28m | $166.45m |