Hyperliquid

Hyperliquid HYPE

Status: ListedPerpetuals DEX
Token GradeBBB
Overall Score: 34.1 /100Rank: 62 of 172
Disclosures BBB4.70 /10
Performance AA7.25 /10

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Disclosures overview

Core Contributors

Legal & Financial

Tokenomics

Service Providers

Performance overview: market quality

Total Volume (as % of Market Cap)

Market Cap (USD)

Trade Volume (USD)

Trade Volume (prev. 30d avg)$3,036,688,047
Market Cap (prev. 30d avg)$19,443,089,715
Trade Volume / Market Cap7.46%
GradeAAAScore8.00Percentile25.15%

Depth +/- 2% (as a % of Market Cap)

Depth +/- 2% (USD) | Market Cap (USD)

Depth +/- 2% (prev. 30d avg)$198,630,570
Market Cap (prev. 30d avg)$19,443,089,715
Depth / Market Cap1.11%
GradeAAAScore8.00Percentile15.79%

Bid / Ask Spread (volume weighted spreads)

Bid / Ask Spread (%)

Exchange with Tightest SpreadsHyperliquid
Volume Weighted Bid / Ask Spread (prev. 30 days)0.0340%
GradeAAAScore10.00Percentile100.00%

Price Performance

30D Change: -14.73%

Price (USD)

Count Green Candles16
Count Red Candles14
Candle "Win Rate"53.33%
GradeAAScore7.00Percentile93.49%

Open Interest (as a % of Market Cap)

Top Venues by OI (prev. 30d avg)

Hyperliquid$1,804,963,129
Binance$374,187,190
Bybit (Futures)$331,215,592
Total (All Exchanges)$3,783,746,626
Open Interest / Market Cap18.12%
GradeAAAScore9.00Percentile62.42%

Funding Rate

Funding Rate (%)

Open Interest-Weighted Funding Rate+0.0078%, longs pay shorts
GradeAAScore7.00Percentile80.13%

Performance overview: liquidity providers

Data not disclosed

Market Maker Volume (as a % of total volume)

N/A
GradeAAA
Score10.00
Percentile100.00%

Market Maker Depth (as a % of total depth)

N/A
GradeAAA
Score10.00
Percentile100.00%

Market Maker Uptime / KPI Adherence

N/A
GradeAAA
Score10.00
Percentile100.00%

Performance overview: liquidity footprint

Top-Tier Exchange Coverage

3 out of 4 (75%)BinanceOKXCoinbaseUpbit
GradeAAAScore8.00Percentile57.89%

Total Volume (CEX vs DEX)

Volume (USD)

CEX Volume (avg)$303,392,301
DEX Volume (avg)$66,359,524
CEX Volume share81.28%
GradeAAAScore9.00Percentile90.06%

Total +/- 2% Depth (CEX vs DEX)

+/- 2% Depth (USD)

CEX Depth (avg)$118,537,101
DEX Depth (avg)$710,304
CEX Depth share99.28%
GradeAScore5.00Percentile57.89%

Total Volume (Spot vs Perps)

Volume (USD)

Spot Volume (avg)$369,751,825
Perps Volume (avg)$2,733,599,930
Spot Volume share14.93%
GradeAAScore6.00Percentile9.36%

Total +/- 2% Depth (Spot vs Perps)

+/- 2% Depth (USD)

Spot Depth (avg)$119,247,405
Perps Depth (avg)$107,119,922
Spot Depth share50.22%
GradeAAAScore10.00Percentile100.00%

Performance overview: tokenomics

Disclosed token vesting vs actual vesting

Disclosed TGE DateN/A
Disclosed Duration36 months
Disclosed Total Groups6
Disclosed Max. SupplyN/A

Disclosed Maximum Token Supply (%) | Months Since TGE

Commentary versus actual token vesting

The project has never published a release rate or cadence for the 23.8% core-contributor allocation. The monthly-on-the-6th cadence is known only from a Discord comment relayed by press. A team member confirmed "the vesting is not linear." A schedule stated to be non-linear with no published curve is an acknowledgement that the release rate is undisclosed, not a disclosure of it.

GradeCCCScore0.00Percentile100.00%

Market Cap vs FDV (ratio)

0.23:1
GradeBB
Score4.00
Percentile16.96%

Fully Diluted Valuation (FDV) (USD)

$74,482,474,684
GradeAAA
Score10.00
Percentile100.00%

Annualized Rate of Inflation

53.50%
GradeCCC
Score1.00
Percentile41.30%

Buyback & Burn Events

95,450,864 tokens
GradeAAA
Score10.00
Percentile100.00%
Data as of 2026-10-19Scoring config v4Rated 172 of 173 projects

UTR scores evaluate disclosure quality and token market structure. The score is informational and should not be interpreted as an assessment of expected returns or as an investment recommendation.