Hyperliquid (HYPE)
Total Value Locked$4.579b
TVL by Chain
Arbitrum$4.452b
Hyperliquid L1$127.78m
Key Metrics
Fees (Annualized)$1.128b
Fees 30d$92.46m
Fees 7d$18.26m
Fees 24h$2.38m
Cumulative Fees$885.58m
Revenue (Annualized)$1.013b
Revenue 30d$83.07m
Revenue 7d$16.46m
Revenue 24h$2.16m
Cumulative Revenue$823.12m
Holders Revenue (Annualized)$1.003b
Holders Revenue 30d$82.24m
Holders Revenue 7d$16.29m
Holders Revenue 24h$2.14m
Cumulative Holders Revenue$821.28m
Incentives (Annualized)$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$1.013b
Earnings 30d$83.07m
Earnings 7d$16.46m
Earnings 24h$2.16m
Cumulative Earnings$823.12m
DEX Volume 30d$6.987b
DEX Volume 7d$1.225b
DEX Volume 24h$155.95m
Cumulative DEX Volume$127.628b
Perp Volume 30d$225.437b
Perp Volume 7d$46.148b
Perp Volume 24h$6.264b
Cumulative Perp Volume$3.465t
Open Interest$7.378b
Market Cap$7.837b
$HYPE Price$28.96
All Time High$59.3
All Time Low$3.81
Fully Diluted Valuation$28.94b
Outstanding FDV$18.739b
$HYPE Volume 24h$187.51m
CEX Volume$75.74m
DEX Volume$111.64m(59.54% of total)
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 and builders fees, excluding spot fees.View code on GitHubHyperliquid Spot Orderbook: Include spot trading fees and unit protocol fees, 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: 99% of fees go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees.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: 99% of fees go to Assistance Fund for buying HYPE tokens, excluding unit protocol fees.View code on GitHub
DEX Volume: Volume of all spot token swaps that go through the protocol
Perp Volume: Notional volume of all trades in the protocol, includes leverage
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
Income Statement for Hyperliquid
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|
| Fees | $252.32m | $302.12m | $180.35m | $139.67m | $11.12m |
| Revenue | $226.37m | $284.38m | $169.85m | $132.02m | $10.51m |
| Earnings | $226.37m | $284.38m | $169.85m | $132.02m | $10.51m |
| Token Holder Net Income | $224.6m | $284.3m | $169.85m | $132.02m | $10.51m |