Overview
Hyperliquid(HYPE)
Token Price$54.58
24h Change-0.2%
All Time HighJun 16, 2026$76.87
All Time LowNov 29, 2024$3.81
Key Metrics
$12.143b
$54.578b
222.45m HYPE
1b HYPE
$21.18b
Volume 24h$135.78m
CEX Volume$53.43m
DEX Volume$81.94m
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 | $65.82M | $204.04M | $219.33M | $298.69M | $359.71M | $182.01M | $139.84M | $11.12M |
| Perp Fees | $56.92M | $178.71M | $192.64M | $257.69M | $314.51M | $175.83M | $137.37M | $10.69M |
| Spot Fees | $1.32M | $5.64M | $5.51M | $10.84M | $19.4M | $4.52M | $2.31M | $421.36K |
| Transaction Gas Fees | $499.99K | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
| Builder Code Fees | $6.76M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Spot fees on Unit markets | $327.52K | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
Cost of Revenue | $14.89M | $36.78M | $34.17M | $45.74M | $50.54M | $10.51M | $7.65M | $605.9K |
| Perp Fees | $447.68K | $1.45M | $1.62M | $2.18M | $6.78M | $5.12M | $3.51M | $271.39K |
| Spot Fees | $13.03K | $55.93K | $54.27K | $109.26K | $367.65K | $131.65K | $58.8K | $9.45K |
| HLP | $460.72K | $1.5M | $1.67M | $2.28M | $7.15M | $5.25M | $4.08M | $325.06K |
| Builder Code Distribution | $6.76M | $16.38M | $17.93M | $23.13M | $16.23M | $0 | $0 | $0 |
| Maker Rebates | $2.47M | $8.8M | $10.41M | $14.73M | $13.48M | $0 | $0 | $0 |
| Unit Revenue | $327.52K | $1.1M | $1.39M | $3.31M | $6.52M | $0 | $0 | $0 |
| HIP-3 Deployer Distribution | $4.42M | $7.49M | $1.1M | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $46.11M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Perp Fees | $44.32M | $143.12M | $159.95M | $215.44M | $271.29M | $165.59M | $130.43M | $10.26M |
| Spot Fees | $1.29M | $5.53M | $5.4M | $10.62M | $18.66M | $4.26M | $2.2M | $407.35K |
| Transaction Gas Fees | $499.99K | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $0 |
Earnings | $46.11M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
Token Holder Net Income | $46.11M | $150.85M | $167.21M | $229.78M | $292.9M | $171.51M | $132.19M | $10.51M |
| Token Buy Back | $45.61M | $148.65M | $165.35M | $226.06M | $289.85M | $169.85M | $132.03M | $10.51M |
| Transaction Gas Fees | $499.99K | $2.21M | $1.86M | $3.72M | $3.05M | $1.66M | $162.41K | $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 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 1 pool
Borrow
Tracking 1 route