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
+39bullish
proprietary read · up to 24h delayedlive score in the terminal →
  • liquidações atingindo mais os vendidos — combustível de alta

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
$63.94MP/F 27.8×
GMX logo
GMX
$5.08MP/F 4.9×
Lighter logo
Lighter
$4.97MP/F 11.8×
See the full sector: Decentralized Exchanges (9 tokens) →

Market

Daily snapshot · data up to 24h delayed
Price
$91.34
24h
+14.05%
Market cap
$21.86B
24h volume
$1.60B

Derivatives

data up to 24h delayed
Funding APR · 18 exch.
+5.24%
Taker buy pressure
46.2%
CVD (cum. delta)
−$591.85M
Open interest
$3.18B

Spot ETF

daily flow · up to 24h delayed
Flow (last day)
−$4.30M
7-day flow
−$19.60M

Fundamentals

data up to 24h delayed
Revenue 30d
$63.94M
Revenue 12m
$686.36M
TVL
$2.46B
Mcap / annual revenue
31.9×

Where to earn on your HYPE

variable APY · up to 24h delayed
Kinetiq KhypeKHYPE · Hyperliquid L1
1.92% APYTVL $836.56M

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 →