24h Change-3.89%
All Time HighJun 16, 2026$76.7
All Time LowNov 29, 2024$3.81
Market Cap$13.461b
Fully Diluted Valuation$60.516b
Circ. Supply222.45m HYPE
Max Supply1b HYPE
Outstanding FDV$23.43b
CEX Volume$249.71m
DEX Volume$394.37m
Raydium AMM · Solana$363,675
Sep 16, 2025Undisclosed
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $186.63M | $218.29M | $286.85M | $354.67M | $180.35M | $139.68M | $11.11M |
| Perp Fees | $165.26M | $193.41M | $249.66M | $312.51M | $175.83M | $137.36M | $10.69M |
| Spot Fees | $5.29M | $5.50M | $10.83M | $19.39M | $4.51M | $2.31M | $421.35K |
| Builder Code Fees | $15.07M | $17.98M | $23.04M | $16.25M | |||
| Spot fees on Unit markets | $1M | $1.39M | $3.31M | $6.51M | |||
Cost of Revenue | $25.82M | $24.04M | $31.07M | $37.77M | $10.50M | $7.65M | $605.90K |
| Perp Fees | $1.41M | $1.73M | $2.26M | $7.07M | $5.12M | $3.51M | $271.39K |
| Spot Fees | $52.44K | $54.52K | $107.30K | $366.83K | $131.64K | $58.80K | $9.45K |
| HLP | $1.47M | $1.78M | $2.35M | $7.56M | $5.25M | $4.08M | $325.06K |
| Builder Code Distribution | $15.07M | $17.98M | $23.04M | $16.25M | |||
| Unit Revenue | $1M | $1.39M | $3.31M | $6.51M | |||
| HIP-3 Deployer Distribution | $6.80M | $1.10M | |||||
Gross Profit | $145.70M | $176.24M | $232.68M | $308.69M | $169.84M | $132.02M | $10.51M |
| Perp Fees | $140.51M | $170.84M | $222.06M | $290.13M | $165.59M | $130.42M | $10.25M |
| Spot Fees | $5.18M | $5.39M | $10.62M | $18.66M | $4.25M | $2.19M | $407.34K |
Incentives | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Earnings | $145.70M | $176.24M | $232.68M | $308.69M | $169.84M | $132.02M | $10.51M |
Token Holder Net Income | $145.70M | $176.24M | $232.68M | $308.69M | $169.84M | $132.02M | $10.51M |
| Token Buy Back | $145.70M | $176.24M | $232.68M | $308.69M | $169.84M | $132.02M | $10.51M |
How much debt can be issued against HYPE as collateral across lending protocols.
Maximum possible exposure to HYPE
$3.5m
$0 (max additional borrows against HYPE) + $3.5m (bad debt if HYPE was hacked now)
Maple
$3.5m at-risk exposure = $3.5m bad debt if hacked + $0 additional borrowable against HYPE
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.
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 | $3.5m |
Risk-management actions published about HYPE by tracked risk managers and governance contributors, newest first.
HYPE qualifies as a mid-cap asset for Spark Prime margining, onboarded with conservative haircuts aligned to expected price impact and volatility, plus strict exposure caps to manage risks.
HYPE approved for USDe perp hedging collateral via the formal Risk Committee framework, satisfying requirements on liquidity, open interest, funding stability, and maturity.
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Showing 10 of 251 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWHYPE-USDCCL 0.22% | $1.78m | 172% | 0% | 172% | 167% | ||||
| open in new tabSOL-HYPE | $1.01m | 129% | 129% | 131% | |||||
| open in new tabWHYPE-USD₮0CL 0.18% | $144,117 | 1960% | 0% | 1960% | 862% | ||||
| open in new tabHYPE-USDC | 🪂 | $49,083 | 135% | 135% | 93.86% | ||||
| open in new tabWHYPE-HPL0.25% | $27,461 | 450% | 450% | 379% | |||||
| open in new tabWHYPE-UBTCCL 0.17% | $27,234 | 214% | 0% | 214% | 790% | ||||
| open in new tabWHYPE-KITTEN2% | 🪂 | $20,918 | 294% | 294% | 235% | ||||
| open in new tabWHYPE-HYLD1% | $15,680 | 367% | 367% | 262% | |||||
| open in new tabHYPE-LIT | $11,243 | 177% | 177% | 169% | |||||
| open in new tabHYPE-SYRUPUSDC | $10,038 | 291% | 291% | 59.18% |
Showing 10 of 26 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWHYPE ➞ KHYPE | $263.63m | 0.62% | 0.62% | 0% | 60% | $196.17m | $154.26m | ||
| open in new tabWHYPE ➞ KHYPE | 🪂 | $263.63m | 0.58% | 0.58% | 0% | 68% | $4.52m | $2.58m | |
| open in new tabWHYPE ➞ WSTHYPE | $75.06m | 0.61% | 0.62% | -0.01% | 60% | $196.17m | $154.26m | ||
| open in new tabWHYPE ➞ WSTHYPE | 🪂 | $75.06m | 0.57% | 0.58% | -0.01% | 68% | $4.52m | $2.58m | |
| open in new tabWHYPE ➞ UBTC | $8.23m | -0.03% | 0.62% | -1.08% | 60% | $196.17m | $154.26m | ||
| open in new tabWHYPE ➞ UBTC | 🪂 | $8.23m | -0.16% | 0.58% | -1.08% | 68% | $4.52m | $2.58m | |
| open in new tabWHYPE ➞ BEHYPE | $2.69m | 0.59% | 0.62% | -0.04% | 60% | $196.17m | $154.26m | ||
| open in new tabWHYPE ➞ BEHYPE | 🪂 | $2.69m | 0.55% | 0.58% | -0.04% | 68% | $4.52m | $2.58m | |
| open in new tabWHYPE ➞ USDC | $101,115 | -1.07% | 0.62% | -2.81% | 60% | $196.17m | $154.26m | ||
| open in new tabWHYPE ➞ USDC | 🪂 | $101,115 | -1.33% | 0.58% | -2.81% | 68% | $4.52m | $2.58m |
