Skip to content
Perpetuals exchange

Hyperliquid

Live data · updated every hour

Hyperliquid runs a fully on-chain order book for perpetual futures and spot trading on its own layer-1 chain.

TVL rank#5CategoryPerpetualsChains2SinceFeb 2023
All DeFi protocols
Total value locked$7.36B+0.2% in 24h · −1.4% in 7d
Fees · 24h$3.03M$89.00M over 30 days
Revenue · 24h$2.45M$881M annualized
Revenue share81%Share of fees kept over 30 days
HYPE price$93.01+0.4% in 24h
Market cap$20.63BFully diluted $93.01B
Mcap / TVL2.80Token value per $1 locked
Chains294.6% on Hyperliquid L1

Hyperliquid TVL

Assets deposited in Hyperliquid across 2 chains, in US dollars.

Value locked$7.36B7.60% of all DeFi
Change · 1Y+$1.42B+24.0% over the period
Period high$7.63BSep 23, 2026
Period low$4.12BDec 24, 2025
Total value locked Touch the chart for valuesHover the chart for values

Supported chains

Deployed on 2 chains. Hyperliquid L1 holds 94.6% of deposits.

Fees & revenue

Monthly fees paid by users and the share Hyperliquid keeps as revenue. The current month is to date.

Fees · 30d$89.00M$17.87M in the past 7 days
Revenue · 30d$72.42M$14.64M in the past 7 days
Annualized revenue$881MPast 30 days, annualized
Price to sales23.4×Market cap ÷ annualized revenue
FeesRevenue Last 12 months

About Hyperliquid

What it does, how it earns and what the HYPE token is for.

It offers exchange-grade speed without handing custody to an intermediary. Nearly all trading fees go to the Assistance Fund, which buys HYPE on the open market.

CategoryPerpetuals
LaunchedFeb 2023
Chains2
TVL rank#5 of 32
HYPE token$93.01+0.4%
Market cap$20.63B
Fully diluted value$93.01B
Circulating supply222M HYPE
Max supply1.00B HYPE
Mcap / TVL2.80
22.2% of max supply in circulation

Hyperliquid FAQ

Short answers to what people ask most.

A fully on-chain order book for perpetual futures and spot trading on its own layer 1 chain. It offers exchange-grade speed without handing custody to an intermediary.

Nearly all trading fees go to the Assistance Fund, which buys HYPE on the open market.

Users paid $89 million in fees over 30 days, and Hyperliquid kept $72.42 million as revenue, $881.1 million annualized.

$7.36 billion is deposited in Hyperliquid, -1.4% over 7 days. It ranks #5 of the 32 DeFi protocols World-Crypt profiles.

Hyperliquid is deployed on 2 chains, and Hyperliquid L1 holds 94.6% of deposits.

HYPE trades at $93.01, a market cap of $20.63 billion.

Hyperliquid news

Coverage of the protocol, its category and its chain.

All news

Similar protocols

Other perpetual exchanges, ranked by value locked.

All protocols