Ask about Hyperliquid

Logo of HyperliquidHyperliquid(HYPE)

Total Value Locked$7.366b

TVL by Chain

Hyperliquid L1$6.744b

Arbitrum$622.77m

Key Metrics

Fees 30d$75.91m
Fees 30d by chain

Hyperliquid L1$75.91m

Fees 7d$19.34m

Hyperliquid L1$19.34m

Fees 24h$2.22m

Hyperliquid L1$2.22m

Cumulative Fees$1.571b

Hyperliquid L1$1.571b

Revenue 30d$59.31m
Revenue 30d by chain

Hyperliquid L1$59.31m

Revenue 7d$15.08m

Hyperliquid L1$15.08m

Revenue 24h$1.75m

Hyperliquid L1$1.75m

Cumulative Revenue$1.268b

Hyperliquid L1$1.268b

Holders Revenue 30d$59.31m
Holders Revenue 30d by chain

Hyperliquid L1$59.31m

Holders Revenue 7d$15.08m

Hyperliquid L1$15.08m

Holders Revenue 24h$1.75m

Hyperliquid L1$1.75m

Cumulative Holders Revenue$1.268b

Hyperliquid L1$1.268b

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$695.36m

$59.31m

$15.08m

$1.75m

$1.268b

DEX Volume 30d$5.285b
DEX Volume 30d by chain

Hyperliquid L1$5.285b

DEX Volume 7d$1.398b

Hyperliquid L1$1.398b

DEX Volume 24h$141.09m

Hyperliquid L1$141.09m

Cumulative DEX Volume$167.577b

Hyperliquid L1$167.577b

Perp Volume 30d$217.181b
Perp Volume 30d by chain

Hyperliquid L1$217.181b

Perp Volume 7d$54.682b

Hyperliquid L1$54.682b

Perp Volume 24h$5.674b

Hyperliquid L1$5.674b

Cumulative Perp Volume$5.347t

Hyperliquid L1$5.347t

Liquidation Volume 30d$1.331b
Liquidation Volume 30d by chain

Hyperliquid L1$1.331b

Liquidation Volume 7d$363.77m

Hyperliquid L1$363.77m

Liquidation Volume 24h$22.28m

Hyperliquid L1$22.28m

Cumulative Liquidation Volume$33.484b

Hyperliquid L1$33.484b

$8.107b

Market Cap$21.292b

$HYPE Price$95.7

All Time High$95.99

All Time Low$3.81

View $HYPE token page

$91.441b

$37.148b

$HYPE Volume 24h$1.085b

CEX Volume$254.2m

DEX Volume$821.86m(75.72% of total)

Protocol Information

Hyperliquid is a Layer 1 blockchain best known for perpetual futures and spot trading. Beyond its flagship decentralized exchange (DEX), the ecosystem supports borrowing, lending, RWAs, and a full-fledged EVM.

WebsiteGitHubX/Twitter
Categories:BridgeDerivativesDexs
Products:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Hyperliquid HLP - 1% of perp and spot trading revenue (excluding builders and unit revenue) share for HLP.View code on GitHubHyperliquid Perps - Include perps trading fees on crypto and HIP-3 deployed markets + builders fees, excluding all spot fees.View code on GitHubHyperliquid Spot Orderbook - Include spot trading fees, unit protocol fees, and HYPE burned in successful HIP-1 token-deployment auctions, excluding perps fees.View code on GitHub

Revenue:

Hyperliquid HLP - No revenue.View code on GitHubHyperliquid Perps - 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees.View code on GitHubHyperliquid Spot Orderbook - 97% of spot trading fees before 30 Aug 2025 and 99% thereafter go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees; HYPE paid in successful HIP-1 token-deployment auctions is burned.View code on GitHub

Holders Revenue:

Hyperliquid HLP - Fees going to governance token holdersView code on GitHubHyperliquid Perps - 99% of fees go to Assistance Fund for buying HYPE tokens, excluding builders fees.View code on GitHubHyperliquid Spot Orderbook - 97% of spot trading fees before 30 Aug 2025 and 99% thereafter go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees; HYPE paid in successful HIP-1 token-deployment auctions is permanently burned.View code on GitHub

DEX Volume: Volume of all spot token swaps on the DEX

Perp Volume: Notional volume of all trades including leverage on the perp exchange

Liquidation Volume: USD value of positions liquidated by the protocol

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Frequently Asked Questions

What is Hyperliquid's TVL?

Hyperliquid currently has $7.366b in total value locked. TVL has increased 10.6% over the past 30 days.

What chains does Hyperliquid operate on?

Hyperliquid operates on 2 chains: Hyperliquid L1 and Arbitrum. Hyperliquid L1 holds the largest share at 91.5%.

How much has Hyperliquid generated in fees and revenue?

Over the past 30 days, Hyperliquid generated $75.91m in fees. Of that, $59.31m was protocol revenue. Based on the trailing year, the annualized rate is $920.08m in fees and $695.36m in revenue.

What is the HYPE token price and valuation?

HYPE is currently trading at $95.31. Its circulating market capitalization is $21.199b, ranking it #12. Its fully diluted valuation is $91.039b. Supply currently stands at 222.45m circulating, 955.31m total supply, 1b maximum supply.

How has HYPE performed recently?

HYPE is up 19% over the past 7 days and up 22.9% over the past 30 days. Its all-time high is $95.94, reached on Sep 21, 2026. The token is currently 0.7% below that level.

Which protocols are included in Hyperliquid?

Hyperliquid is a parent protocol whose tracked products include Hyperliquid Bridge, Hyperliquid HLP, Hyperliquid Spot Orderbook, and Hyperliquid Perps.

How much trading volume does Hyperliquid process?

Hyperliquid processed $5.285b in DEX volume over the past 30 days.