FM Terminal · Financial Move

Hyperliquid (HYPE)

Decentralized perps exchange with a fully on-chain order book — the biggest perp volume outside centralized exchanges. The token captures the exchange's own fees.

FM on-chain score
-19neutral
proprietary read · up to 24h delayedlive score in the terminal →
  • buzz social otimista (83/100)
  • liquidações atingindo mais os comprados — pressão extra de venda

A synthesis of derivatives, on-chain flow, smart money and social into one number from −100 to +100. Not financial advice — see the methodology.

Competes with

revenue 30d · public data up to 24h delayed
Hyperliquid logo
Hyperliquid
$59.49MP/F 25.1×
Lighter logo
Lighter
$4.17MP/F 18.1×
edgeX logo
edgeX
$3.47MP/F 1×
See the full sector: Decentralized Exchanges (9 tokens) →

Market

Daily snapshot · data up to 24h delayed
Price
$81.62
24h
+4.20%
Market cap
$18.14B
24h volume
$789.61M

Derivatives

data up to 24h delayed
Funding APR · 20 exch.
+12.09%
Taker buy pressure
49.3%
CVD (cum. delta)
−$518.73M
Open interest
$2.96B

Spot ETF

daily flow · up to 24h delayed
Flow (last day)
−$8.20M
7-day flow
−$16.00M

Fundamentals

data up to 24h delayed
Revenue 30d
$59.49M
Revenue 12m
$700.05M
TVL
$1.40B
Mcap / annual revenue
25.9×

Where to earn on your HYPE

variable APY · up to 24h delayed
Kinetiq KhypeKHYPE · Hyperliquid L1
1.91% APYTVL $1.03B
Hyperlend PooledWSTHYPE · Hyperliquid L1
0.00% APYTVL $131.05M

APY floats with the network. Not a recommendation — it's the map so you can decide. Live data in the VIP terminal →

Full written thesis available in Portuguese for now — all data above is global.

Fundamental analysis

on the Financial Move blog · in Portuguese

Hyperliquid (HYPE): Vale a Pena? Análise Completa

O Hyperliquid (HYPE) é a exchange descentralizada de perpétuos mais dominante do mercado cripto, construída sobre sua própria blockchain Layer 1 customizada. Capaz de processar mais de 200.000 ordens por segundo com confirmação quase instantânea e sem taxas de gas, o Hyperliquid combina a velocidade de uma exchange…

Tasso Lagoupdated May 01, 2026Read the full analysis