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

+1neutral

proprietary read · up to 24h delayedlive score in the terminal →

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

$36.97MP/F 14.9×

edgeX

$2.61MP/F 0.5×

Lighter

$2.13MP/F 9.4×

See the full sector: Decentralized Exchanges (9 tokens) →

Market

Daily snapshot · data up to 24h delayed

Price

$52.4

24h

-3.00%

Market cap

$11.65B

24h volume

$374.53M

Derivatives

data up to 24h delayed

Funding APR · 20 exch.

+4.72%

Taker buy pressure

40.1%

CVD (cum. delta)

−414.90M

Open interest

$2.18B

Spot ETF

daily flow · up to 24h delayed

Flow (last day)

−8.80M

7-day flow

−20.80M

Fundamentals

data up to 24h delayed

Revenue 30d

$36.97M

Revenue 12m

$779.20M

TVL

$1.19B

Mcap / annual revenue

14.9×

Where to earn on your HYPE

variable APY · up to 24h delayed

Kinetiq KhypeKHYPE · Hyperliquid L1

1.94% APYTVL $756.07M

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.