Hyperliquid

Hyperliquid HYPE

Status: ListedPerpetuals DEX
Token GradeBBB
Overall Score: 34.8 /100Rank: 59 of 172
Disclosures BBB4.70 /10
Performance AA7.40 /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)$3,283,018,813
Market Cap (prev. 30d avg)$18,649,963,476
Trade Volume / Market Cap10.43%
GradeAAAScore10.00Percentile100.00%

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

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

Depth +/- 2% (prev. 30d avg)$197,364,695
Market Cap (prev. 30d avg)$18,649,963,476
Depth / Market Cap1.14%
GradeAAAScore8.00Percentile14.62%

Bid / Ask Spread (volume weighted spreads)

Bid / Ask Spread (%)

Exchange with Tightest SpreadsBinance
Volume Weighted Bid / Ask Spread (prev. 30 days)0.0272%
GradeAAAScore10.00Percentile100.00%

Price Performance

30D Change: -11.48%

Price (USD)

Count Green Candles14
Count Red Candles16
Candle "Win Rate"46.67%
GradeAScore5.00Percentile79.88%

Open Interest (as a % of Market Cap)

Top Venues by OI (prev. 30d avg)

Hyperliquid$1,710,807,733
Binance$370,049,432
Gate$365,575,519
Total (All Exchanges)$3,819,228,250
Open Interest / Market Cap19.63%
GradeAAAScore9.00Percentile69.62%

Funding Rate

Funding Rate (%)

Open Interest-Weighted Funding Rate+0.0059%, longs pay shorts
GradeAAScore7.00Percentile73.89%

Performance overview: liquidity providers

Data not disclosed

Market Maker Volume (as a % of total volume)

—
GradeAAA
Score10.00
Percentile100.00%

Market Maker Depth (as a % of total depth)

—
GradeAAA
Score10.00
Percentile100.00%

Market Maker Uptime / KPI Adherence

—
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)$340,173,064
DEX Volume (avg)$65,395,081
CEX Volume share76.80%
GradeAAAScore10.00Percentile100.00%

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

+/- 2% Depth (USD)

CEX Depth (avg)$120,931,654
DEX Depth (avg)$703,302
CEX Depth share99.14%
GradeAScore5.00Percentile64.33%

Total Volume (Spot vs Perps)

Volume (USD)

Spot Volume (avg)$405,568,145
Perps Volume (avg)$2,947,565,012
Spot Volume share23.75%
GradeAAAScore8.00Percentile38.60%

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

+/- 2% Depth (USD)

Spot Depth (avg)$121,634,956
Perps Depth (avg)$103,608,853
Spot Depth share46.72%
GradeAAAScore9.00Percentile13.45%

Performance overview: tokenomics

Disclosed token vesting vs actual vesting

Disclosed TGE Date—
Disclosed Duration36 months
Disclosed Total Groups6
Disclosed Max. Supply—

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)

0.25:1
GradeBB
Score4.00
Percentile16.96%

Fully Diluted Valuation (FDV) (USD)

$70,062,145,032
GradeAAA
Score10.00
Percentile100.00%

Annualized Rate of Inflation

48.64%
GradeCCC
Score1.00
Percentile36.96%

Buyback & Burn Events

97,456,598 tokens
GradeAAA
Score10.00
Percentile100.00%
Data as of 2026-11-09Scoring 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.